Saudization of four retail sectors starts today

11/09/2018 Argaam

 

The Saudi Ministry of Labor and Social Development starts today the nationalization of four retail sectors, namely automotive, apparel, home appliances and furniture.

 

The move will provide more jobs to Saudi citizens and raise their contribution to the private sector. Violators will be penalized.

 

A committee was formed of representatives from the labor ministry, the Human Resources Development Fund (HADAF) and Social Development Bank to develop a program for Saudization enablers.

 

Saudization at shops selling electronic and electric appliances, watches and eyeglasses will come into effect on Nov. 9, 2018.

 

The Kingdom will also nationalize jobs at medical equipment, building materials, car spare parts, carpets and rugs, and confectionary shops starting Jan. 7, 2019.

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