Riyadh – Mubasher: The second version of Nitaqat, the Saudi Ministry of Human Resources and Social Development’s (MHRSD) Saudisation programme, aims to provide 340,000 jobs by 2024, Saudi Press Agency reported.
The developed Nitaqat will likely balance the relationship between the number of employees and the required localisation rate, by offering attractive job offers and increasing the efficiency of the labour market.
Nitaqat’s developed version has three new features; a three-year localisation plan to raise the organisational stability of private sector institutions; a second part that uses a linear formula associated with the number of employees at an institution; and a phase that simplifies the design of the programme through 32 choices instead of 85.
The programme was launched in 2011 in partnership with government bodies and the private sector to enhance localising jobs and set a minimum wage for Saudis in the private sector.
Nitaqat’s first step was to increase the minimum wage to SAR 3,000 ($800), which was later expanded to SAR 4,000 at the beginning of the second quarter (Q2) this year.
The Saudi Ministry of Human Resources and Social Development launched on 23 May the developed phase of Nitaqat.
