Saudi Arabia’s efforts to empower women are yielding fruits as itsbusinesswomen now own more than 20,000 companies and establishments
andhold 21 percent of total private investments,
according to Abdul WahabAttar, the Kingdom’s permanent representative to the United Nations.“Saudiwomen account for 56.5 percent of total university graduates and 40percent of Saudi doctors,” Attar told a meeting of the UN GeneralAssembly. Of the total Saudi work force in the Kingdom 14 percent arewomen, with 30 percent of them concentrated in education, Attar said.Attargave the latest statistics about Saudi women’s growing role in thenation- building process. “Saudi businesswomen own more than 20 percentof money in investment portfolios,” he said, adding that there areabout 43,000 commercial registrations under the name of women indifferent regions. “The Eighth Five-Year Development Plan(2005-2010) has a separate chapter for the first time on the role ofwomen in development with detailed plans to increase theirparticipation in the development process,” the official said. Accordingto a recent study, investment by Saudi businesswomen has reached someSR8 billion, especially in the retail, contracting, wholesale andtransferable industries sectors. The study also claims that Saudi womenas a whole have funds of SR45 billion, 75 percent of which is sittingidle in bank deposits.That means there is a large untappedfinancial resource in the Kingdom that could, with the rightincentives, regulations and
facilities, contribute to the country’seconomic development in a range of sectors and also reduceunemployment. There is also a large untapped labor force.According to official statistics, only 5.5 percent of an estimated 4.7million Saudi women of working age are actually employed. The JeddahChamber of Commerce and Industry has conducted a study on the presentsituation of women’s employment.According to Nashwa Taher, amember of the chamber’s board of directors, the chamber would presentproposals to the relevant government departments and organizations toincrease job opportunities for women.“The proposals included acomprehensive study on the present situation of women’s employment andthe obstacles facing them,” Taher said. The Ministry of Commerce andIndustry insists that a businesswoman should have a male manager to geta commercial registration, she said. A nine-point Cabinet decision in2005 had called for increasing job opportunities for women. Efforts arealso under way to establish a research center for women in Riyadh withmodern facilities.