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The unemployment rate among Saudis, during Q2 of 2023, decreased to 8.3%, marking a notable decline from the 9.7% recorded in the corresponding period in 2022. This development aligns more closely with the ambitious target set by the Saudi government in its “Vision 2030” initiative, which seeks to achieve a 7% unemployment rate in the Kingdom. ....
Saudi Arabia announced the establishment of the Insurance Authority (IA), reflecting a significant step forward in building a strong, vital, and stable insurance sector in the Kingdom. Health projects in the Kingdom are improving, as the sector expects 100 new projects in health services in partnership between the government and the private sector over the next five years, with an estimated capital investment opportunity at $13 billion. ....
Saudi Arabia holds significant importance within the G20 group due to its status as one of the world’s major economies. This prominence is primarily driven by its ambitious national transformation plan, Vision 2030, which is aimed at fostering the continued prosperity of its economy. Simultaneously, Saudi Arabia commands a formidable presence in the energy sector, exerting both direct and indirect influence on global energy markets. ....
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