JEDDAH: Uber Technologies Inc, the American multinational online transportation network company, has announced that it will provide more than 100,000 job opportunities in the Kingdom in the coming years.
The company said that the number of taxi drivers it currently employs exceeds 9,000 in the Kingdom, the Asharq Al-Awsat newspaper said, quoting a company source, on Sunday.
Thousand of drivers will join its fleet in the Kingdom every month, said the source while referring to the recent announcement by Saudi state’s Public Investment Fund (PIF) to invest $3.5 billion in Uber.
The PIF, through this transaction, will become a major player in the upstart technology projects, a significant shift from the previous concentration to invest in traditional foreign portfolios with low risks.
Yasir Al-Rumayyan, managing director of PIF, said the fund does not aim to yield profits only, but also to support the comprehensive plan to reform the economy.
He said the comprehensive plan focuses on opening strategic sectors such as tourism, entertainment, increasing employment opportunities and women’s participation in the workforce in addition to encouraging entrepreneurship.
The company, which depends on an electronic platform to link passengers with drivers through an application in the Saudi market since early 2014, did not announce a specific agreement to expand its activity in the Kingdom as the result of its deal with the PIF.
Al-Rumayyan will sit on the board of directors of Uber, giving the Saudi government a direct role in the decision-making process of the company.
Following the announcement of the deal, Travis Kalanick, CEO of Uber, said: “Our experience in Saudi Arabia is a great example of how Uber can benefit passengers, drivers and cities. We highly value the trust represented by this investment and we look forward to this partnership with the Kingdom to support the ongoing economic and social reforms.”
Uber provides its service in nine countries and 15 cities in the Middle East and North Africa, and inside Saudi Arabia in Riyadh, Jeddah, Makkah, Madinah and Dammam.