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Riyadh: Saudi Arabia's Crown Prince Sultan Bin Abdul Aziz has said the kingdom, which relies heavily on foreign labour, will end crippling unemployment among young Saudis within five years, newspapers and state media said yesterday.
The world's largest oil exporter is trying to diversify its economy but faces a major challenge in creating jobs and motivating young people who traditionally look for jobs in the state bureaucracy.
"Balanced development in all regions and in all sectors is a strategic goal of the government," Prince Sultan said in a speech printed in the daily Al Madinah.
"Thousands of young Saudis will be drawn in and thus there will be no unemployed youth, who will be assured a government job during the next five years," he added, without giving details on how the jobs would be created.
Prince Sultan was speaking on the occasion of a trip by King Abdullah Bin Abdul Aziz to the remote region of Najran on Saudi's southern border with Yemen.
The King has been visiting different regions of the vast country in recent months and announcing development projects.
Labour Minister Gazi Al Gosaibi recently called unemployment among the burgeoning youth population "frightening". More than 60 per cent of Saudis are thought to be under the age of 21.
Officials offer conflicting numbers on the number of unemployed, recently ranging between 6 and 12 per cent.
Saudi Arabia has more than 6 million expatriates among its population of 24 million.
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