IslamicFinance.de

Gulf Cooperation Council (GCC) countries are facing major challenges related to their demographic evolution and oil-dependent economic structure, most notably Kuwait and Saudi Arabia. National population in Kuwait and Saudi Arabia is expected to keep growing fast thus putting pressure on their economies to create a vast amount of jobs for newcomers, the report by Asiya Capital Investment Company said. Saudi authorities are aware of this problem for many years, and developed several "Saudization" initiatives of the labor market. The approach that Kuwait took to nationalize its private labor market, establishing minimum levels of Kuwaiti employees in each company.