Saudi economic reform to focus on employment, plans for lower oil revenues
Saudi Arabia plans to spend billions of riyals on technical training and other initiatives to boost the number of its citizens in private sector jobs, an economic reform plan released on Monday showed. The world's top oil exporter has been pushing labour reforms for years aimed at reducing the burden of employment on the state, but Monday's plans spelled out new details of how this might be achieved in a range of economic sectors.
The National Transformation Plan (NTP), announced by government ministers late on Monday, is part of the Vision 2030 reform scheme launched in April by Deputy Crown Prince Mohammed bin Salman to prepare for a future with lower oil revenue.
