During a meeting with the leaders of restaurants in the Chamber, Prince Alwaleed bin Nasser said that the size of the restaurant sector in the Kingdom is up to 79 billion riyals.
Al-Boali: The food sector is a major engine of growth among the Kingdom's diversification policies.
His Highness Prince Alwaleed bin Nasser bin Farhan Al Saud said that the food sector is an important part of the national program 2020 and the vision of the Kingdom of 2030. He also stressed that the size of the sector in the Kingdom is up to 79 billion riyals, and that the sector represents a strong addition to the national economy, like other sectors.
He pointed out that the sector could play a large role in serving the community through the parts that can be exercised in raising awareness of major national projects such as the project of domestic violence or the employment of orphans. He called for the activation of the system of Nitaqat for the sector such as the rest of the sectors, and stopping the system of localization of malls, as the costs of training covered by the Human Resources Fund.
The meeting was held on Wednesday, May 9, 2018, and was moderated by the Vice-President of the Hospitality and Leisure Committee, Hamad bin Mohammed Al-Boali, in the presence of a number of Board members and the Secretary-General of the Chamber in the Eastern Province.
Prince Alwaleed said that the volume of purchases of local content for the restaurant sector in billions, but not properly highlighted. He stressed that the sector added value in the national economy. He also pointed out that the Saudi Association of Restaurants and Cafes (Qout) is currently working on developing four main aspects in line with the aspirations of the National Program 2020. It starts with recruitment, as it is one of the sectors that are capable of creating several job opportunities. He pointed out that the catering sector targets the age groups between 16 and 25, which constitutes about 5% of the total unemployment rate in the Kingdom. He added that the second aspect is training and strengthening the local component and community service. He believed that the restaurant sector could contribute significantly to national programs of social service.
He mentioned that attracting Saudi youth to work in the hospitality sector is the biggest challenge. He pointed out that the Association seeks to overcome this challenge and worked on issuing a booklet directed to restaurant leaders, including all the necessary procedures to attract young people and motivate them to work in restaurants, as well as the implementation of an electronic application facilitates the polarization and put jobs offered easily to young Saudis.
The Vice Chairman and Chairman of the Hospitality and Leisure Committee, Hamad Bin Mohammed Al-Boali, said that hospitality and leisure sector is a major engine of national growth. He added, "We look forward to being a key player in the economic diversification policies in accordance with the vision of the Kingdom of 2030, which is aiming to increase the contribution of all non-oil sectors to GDP." He pointed out that the sales of the restaurant sector exceeded 80 billion riyals. He expected that the future of the sector will witness an increasing growth and competition especially with the entry of international companies to the Saudi market, which will contribute to the national investor in upgrading this industry capable of absorbing thousands of national manpower.
Al-Boali said that in order to enhance the performance and encourage the hospitality and leisure sector to compete in the local market, the Committee plans to launch several initiatives and programs to face the challenges of the sector and develop appropriate solutions. He pointed out that the meeting comes within the framework of the efforts of Asharqia Chamber to enhance business partnership in the areas of hospitality and entertainment in general, to support the leaders of the restaurant sector in particular and discuss the problems and challenges they face and develop appropriate solutions.
During the meeting, business leaders presented a number of proposals on the development of the restaurant sector in the Kingdom that are in line with the aspirations of Vision 2030, as follows, the Association (Quot) would run on medical examinations for the workers of the restaurants; would change the mental image of Saudi youth working in restaurants through a government program that adopts this goal and motivates young people to work in the sector.
At the end of the meeting, Al-Boali presented a commemorative shield to His Highness Prince Alwaleed bin Nasser bin Farhan Al Saud.
