Employment of 73,000 Citizens Supported in the Private Sector in Q1 2024
The Human Resources Development Fund (HRDF) has facilitated the employment of 73,878 Saudi citizens through its programs and initiatives in private sector establishments during the first quarter of 2024.
The HRDF reported that over 1.1 million individuals benefited from its guidance, training, and empowerment services during Q1 2024. Additionally, more than 72,000 establishments across various sectors and regions of the Kingdom benefited from the Fund's services. Notably, approximately 88% of these were small and medium-sized enterprises (SMEs). The total amount disbursed for support programs during this period reached 2.13 billion Saudi Riyals.
The HRDF continuously works on developing the skills of Saudi nationals, increasing their participation in the labor market, and encouraging private sector contributions to localization. The Fund also aims to enhance partnerships with relevant entities to train, employ, and empower national cadres, thereby increasing their competitiveness and sustainability in the labor market. These efforts contribute to achieving the objectives of Saudi Vision 2030, particularly in human capital development and labor market strategy.
It is noteworthy that the HRDF's strategy, launched in the first quarter of the previous year, has enhanced the benefits received by individuals and establishments from the Fund's programs and services. The strategy aims to achieve three main goals: enhancing the development of national human capital to meet evolving labor market demands, improving the relationship between labor supply and demand, and enabling and sustaining employment in the private sector.
