Saudi Human Resources Development Fund Reveals 24 Deals Worth $400ml to Support Employment

Saudi Human Resources Development Fund Reveals 24 Deals Worth $400ml to Support Employment

The Human Resources Development Fund (HRDF) is implementing 24 active agreements to support employment-related training in high-growth sectors, with a combined value of more than 1.5 billion riyals ($400 million), a source within the Fund told Asharq Al-Awsat.

The entity has concluded important partnerships with major national projects and companies, and is seeking to keep pace with the unprecedented economic movement and the prosperity of the labor market, by forging agreements with promising sectors, such as: tourism, entertainment, transportation, logistics services, manufacturing, and cyber-security, in addition to developing training, qualification, and empowerment programs.

The source pointed to the Fund’s keenness to develop the skills and capabilities of the Saudi youth, raise the level of their participation in the labor market, and stimulate the private sector to contribute to the nationalization goals, in addition to strengthening partnerships with the relevant authorities in training, employing and empowering national cadres.

According to the well-informed source, the HRDF contributed, since the beginning of 2023 until the end of October, to supporting the employment of about 330,000 male and female citizens in private sector establishments. He added that the total spending on training, employment and empowerment support programs during the same period amounted to about SAR 7.5 billion,