LTIMindtree, Aramco form company to boost women employment in Saudi Arabia
RIYADH, SAUDI ARABIA — Indian tech giant LTIMindtree has partnered with Saudi Arabia’s Aramco to boost women’s employment in the Kingdom.
The joint venture aims to create a regional IT services hub, fostering digital transformation and economic diversification.
The initiative, which mirrors India’s strategy to boost IT and women’s employment, includes the formation of a new company. LTIMindtree will have a 51% stake in it. Meanwhile, Global Digital, a subsidiary of Aramco, will have a 49% stake.
The new entity will become operational by July 1.
LTIMindtree president and executive board member Sudhir Chaturvedi shared that, like in India, they will recruit experienced professionals and fresh graduates for training.
“Essentially, we will replicate that model there, obviously with nuances which are specific to the Saudi market. As part of the focus, this aims to enhance women’s employment in the Saudi market,” he noted.
According to Tim Callen, a visiting fellow at the Arab Gulf States Institute in Washington, female labor force participation rates in Saudi Arabia doubled from about 17.5 percent to 35 percent over the last six years.
However, he pointed out that “the female unemployment rate [in Saudi Arabia] is three times higher than the male rate. So you know, impressive progress, but much further to go.”
