The foundation of the Fund and its organizational affiliation
The Human Resources Development Fund was established pursuant to Council of Ministers Resolution No. (107) dated 04/29/1421 AH with the aim of supporting efforts to qualify the national workforce and employ them in the private and non-profit sectors. In order to achieve its goals, it has to Do the following:
- Providing subsidies for the rehabilitation, training, and employment of the national workforce in the private and non-profit sectors.
- Participate in the costs of qualifying the national workforce and training them for jobs in the private and non-profit sectors. The fund’s board of directors determines the percentage of this participation, and the remaining percentage is paid by the employer benefiting from the training of the trainee.
- Bearing a percentage of the salary of those who are employed in the establishments of the private sector and the non-profit sector, after qualifying and training them, as well as those who are employed in these establishments in coordination with the Fund, and the employer pays the remaining percentage of the salary. The Fund shall assume this percentage for a period not exceeding two years, and the Board of Directors shall set the necessary conditions for its disbursement.
- Supporting the financing of field programs, projects, plans, and studies aimed at employing Saudis and replacing them with expatriate workers.
- Providing loans to facilities for qualifying and training the private national workforce that is established in the Kingdom, and existing facilities for the purpose of expanding their activities, or for introducing modern methods to them.
- Carrying out research and studies related to its activities in the field of qualifying, training, and employing the national workforce, as well as providing technical and administrative advice to the facilities for qualifying and training the national workforce.
The Human Resources Development Fund is also linked organizationally to the National Development Fund, which was established by Royal Decree No. (A / 13) dated Muharram 13, 1439 AH corresponding to October 4, 2017, which enjoys legal personality and financial and administrative independence, and is organizationally linked to the Prime Minister. The National Development Fund aims to raise the level of performance of the development funds and banks associated with it so that they achieve the desired goals of their establishment and keep pace with what serves development priorities and economic needs in light of the goals and pillars of the Kingdom's Vision 2030.
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