Saudi Arabia has introduced new business sectors including entertainment, hospitality and services for local talents, stated Saudi Minister of Economy and Planning, Mohammad Al-Tuwaijri on the sidelines of World Economic Forum in Davos.
"The assessment of the labour market requires an evaluation of the educational system in the Kingdom,'' Al-Tuwaijri said.
Diversified policies represent key driver for the private sector employment, Al-Tuwaijri noted, adding that 68 labour initiatives were launched last year.
The Kingdom also spent more than SAR 1 billion a year on social protection programs, and will likely make more progress in this field, the minister stated.
Projects including Riyadh metro, airport privatization and digitalization all echo the transition to the private sector over the coming years, the minister noted.
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