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2021 Q1 Labor Statistics Released: Saudi unemployment rate decreases

Saudi General Authority for Statistics (GASTAT) has released the first quarterly labor market bulletin of 2021 through its official website. The press release features estimates based on the Labor Force Survey and statistics from the Ministry of HR and Social Development, GOSI (General Organization for Social Insurance), the HR Development Fund, and the National Information Center.

How to comply with anti-concealment law

The anti-concealment law has been a significant concern by foreign investors regarding their business future. It has been a part of the national program to combat commercial concealment by the Ministry of Commerce.

The successful customer retention tactics your business should follow

In today’s era, many leading businesses are putting more effort into retaining a client over acquiring new clients. While attracting new consumers has its appeal, maintaining existing consumers will yield a higher ROI over time – and it will cost 5 to 25 times less. However, it is often easier to say so than act, especially in today’s competitive digital age.

Accounting Nationalization: Welcome move to achieve long-term benefits

Following the footsteps of the retail and engineering professions, the Ministry of Human Resources and Social Development in Saudi Arabia has implemented 30% localization of the accounting profession in line with Vision 2030, which came into effect on 12 June 2021. The Nationalization Scheme, or Nitaqat, is a policy adopted by the Ministry of Labour that requires Saudi enterprises to hire local people on a quota basis. The government aims to create more than 9,800 jobs in the private sector by localizing jobs in this profession. This article will dive into details in the Saudization plan, how the government is facilitating it, and what needs to be done to achieve the goal.