77 establishments enter local market daily, signaling signs of economic recovery

77 establishments enter local market daily, signaling signs of economic recovery

Okaz/Saudi Gazette report RIYADH – A total of 7,047 private sector establishments entered the local market during the third quarter of the year 2021, according to the latest report of the General Organization for Social Insurance (GOSI). By this, the total number of establishments operating in the private sector reached 636,311, an increase of 1.12 percent, This showed that the average daily entry of establishments in the market reached 77, and that signals the signs of the economic recovery in the post pandemic period. According to a monitoring of Okaz/Saudi Gazette based on the GOSI report, there are 8,652 micro enterprises entered the market, bringing the total number of these establishments to 441,122, an increase of two percent. Micro enterprises are those establishments where there are not more than four workers. A total of 446 establishments, where the workers are ranging between five and nine, entered the market during the period. The total number of these establishments reached 106,045. The period also witnessed entry of 63 establishments, with the number of workers ranging between 200 and 299 in each firm, and this marked an increase of 4.16 percent, bringing the total number of these establishments to 1,579. Establishments with the