Hadaf inks MoUs to nationalize restaurant business

Saudi Arabia’s Human Resources Development Fund (Hadaf), the labor ministry, the economy and planning ministry, and the Saudi Arabia Restaurants Association (QOOT) signed several memorandums of understanding (MoUs) to nationalize the restaurant and café activities.

The move comes to support the growth of the restaurant sector, Hadaf said on its Twitter account.

According to data compiled by Argaam, Prince Waleed bin Nasser bin Farhan president of Qoot said last year that he will present a comprehensive plan to provide 35,000 jobs in the restaurant sector across the Kingdom over three years.

The Saudization rates must be revised so not to exceed 10 percent for cafes and 35 percent for large companies, he had said.