RIYADH — Minister of Human Resources and Social Development Eng. Ahmed Al Rajhi said that the government aims to bring down unemployment rate among Saudis to 5 percent by 2030.

In his speech at the budget forum, the minister revealed that 300,000 Saudi men and women have been employed in qualitative professions through the qualitative localization program, and these include accounting, engineering, pharmacy, and radiology technician, which are professions that require a different approach to localization.

Al Rajhi said that the implementation rate of the labor market strategy reached 84 percent over the last four years. "Today we were asked to update this strategy, and we have raised a new, very ambitious strategy that will move the Saudi labor market to the ranks of the best global labor markets," he said.

The minister noted that the human resources and social development system has contributed to 8 of the 11 Vision programs. "The system has large files in the Vision 2030 and among its achievements is the total unemployment rate reaching 3.3 percent after it was six percent in 2018. The unemployment rate among Saudis was 12.8 percent in 2018 and today it has become 7.1 percent." "The vision target was to reach 7 percent in 2030, but we reached this rate 6 years ago. So the Crown Prince directed to review this rate, and today we have another ambition to bring down the unemployment rate in Saudi Arabia to reach 5 percent by 2030."

Al Rajhi pointed out that the rate of women's economic participation reached 35 percent while the target was 30 percent in 2030. "So today we have a new target in terms of the partners in the private sector as they are the ones who made this achievement. The number of Saudis in the private sector reached 2.4 million, while in 2018 it was about 1.7 million, thanks to God and then to our partners in the private sector," he said.

The minister revealed that 120,000 social security beneficiaries have been empowered since the launch of the Vision. "Instead of relying on government support, they have become empowered and independent and are contributing to the economy, and we now have seven empowerment clinics, whose role is to help social security beneficiaries solve the problems they face through applying modern empowerment principles and concepts," he said while pointing out that the spending on the Citizen's Account reached SR41 billion in 2024, which is a large number to support citizens in meeting the challenge of facing the high cost of living.

Al-Rajhi also drew attention to the great progress that has been made in the field of training, as 10.3 million training opportunities have been provided in cooperation with the private sector. "The goal of the Vision was to reach one million volunteers in 2030, but this number will be reached in 2024, and this shows the love of volunteer work among the Saudi people, and therefore we have set a new target, which is to reach 1.5 million volunteers by 2030," he added.

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