Human Resources and Social Development Ministry Advances Cooperative Sector as Part of Saudi Vision 2030 Goals

July 5 of each year marks the International Day of Cooperatives, a global occasion recognized by the United Nations to highlight the vital role played by the cooperative sector in achieving sustainable development and promoting economic participation.

 In this context, the Kingdom of Saudi Arabia continues to give increasing attention to the cooperative sector as part of the goals of Saudi Vision 2030, recognizing it as a key driver in boosting the non-profit sector’s contribution to GDP and in fostering local community development.

 In line with this approach, the Ministry of Human Resources and Social Development, through the General Directorate of Cooperative Societies, attaches strategic importance to the sector. It works to empower cooperatives, expand their economic and social impact, and enhance their contribution across key sectors.

 The ministry established the General Directorate of Cooperative Societies as a specialized body to develop the sector, oversee cooperative societies, and streamline their establishment processes—reducing the founding period from 60 days to just 3. This reflects a significant improvement in procedural efficiency and provides a practical incentive for growth.

 The ministry continues to enhance the enabling environment for cooperative societies by strengthening financing tools, expanding partnerships with the public and private sectors, and organizing cooperative forums across various regions of the Kingdom. These efforts aim to raise community awareness and encourage citizens to establish development- or economy-oriented cooperatives.

 To date, there are 529 active cooperative societies. As part of its comprehensive plans and initiatives, the ministry aims to gradually increase this number to 2,075 by 2030, marking a 295% growth compared to the current figure.