JEDDAH, 10 March 2007 — Saudi Arabia’s efforts to empower women are yielding fruits as its businesswomen now own more than 20,000 companies and establishments and hold 21 percent of total private investments, according to Abdul Wahab Attar, the Kingdom’s permanent representative to the United Nations.

“Saudi women account for 56.5 percent of total university graduates and 40 percent of Saudi doctors,” Attar told a meeting of the UN General Assembly. Of the total Saudi work force in the Kingdom 14 percent are women, with 30 percent of them concentrated in education, Attar said.

Attar gave the latest statistics about Saudi women’s growing role in the nation- building process. “Saudi businesswomen own more than 20 percent of money in investment portfolios,” he said, adding that there are about 43,000 commercial registrations under the name of women in different regions.

“The Eighth Five-Year Development Plan (2005-2010) has a separate chapter for the first time on the role of women in development with detailed plans to increase their participation in the development process,” the official said.

According to a recent study, investment by Saudi businesswomen has reached some SR8 billion, especially in the retail, contracting, wholesale and transferable industries sectors. The study also claims that Saudi women as a whole have funds of SR45 billion, 75 percent of which is sitting idle in bank deposits.

That means there is a large untapped financial resource in the Kingdom that could, with the right incentives, regulations and facilities, contribute to the country’s economic development in a range of sectors and also reduce unemployment.

There is also a large untapped labor force. According to official statistics, only 5.5 percent of an estimated 4.7 million Saudi women of working age are actually employed. The Jeddah Chamber of Commerce and Industry has conducted a study on the present situation of women’s employment.

According to Nashwa Taher, a member of the chamber’s board of directors, the chamber would present proposals to the relevant government departments and organizations to increase job opportunities for women.

“The proposals included a comprehensive study on the present situation of women’s employment and the obstacles facing them,” Taher said. The Ministry of Commerce and Industry insists that a businesswoman should have a male manager to get a commercial registration, she said. A nine-point Cabinet decision in 2005 had called for increasing job opportunities for women. Efforts are also under way to establish a research center for women in Riyadh with modern facilities.