RIYADH — The localization rate in the Saudi financial market institutions reached 77% in the fourth quarter of 2022, the Capital Market Authority (CMA) announced. CMA has also added that the localization rate in the market infrastructure institutions increased to 91%. It is noteworthy that Ministry of Human Resources and Social Development (MHRSD) has announced that it is expanding the Saudization drive to new professions and activities. These include project management; procurement and sales; outlets providing services for shipping activities and freight brokerage; and outlets for decor and women's tailoring. The Saudization drive is in various phases of implementation to create more jobs for young Saudi men and women. The Ministry, in partnership with other ministries and supervisory authorities, embarked on the Saudization journey with the aim of providing more stimulating and productive job opportunities for Saudis and raising the level of their participation in the labor market.
