RIYADH — Minister of Human Sources and Social Improvement Ahmed Al-Rajhi mentioned that the Saudi employment market is present process important growth, with greater than 2.5 million younger Saudi women and men becoming a member of the non-public sector since 2020. He made these remarks whereas inaugurating the third World Labor Market Convention (GLMC) in Riyadh on Monday.
The 2-day convention is attended by ministers of labor from a number of international locations, together with policymakers and specialists from around the globe, to debate the important thing challenges going through world labor markets.
Al-Rajhi emphasised that labor markets worldwide are experiencing speedy transformation because of technological developments, demographic modifications, and evolving abilities necessities. He famous that the convention highlights the progress of the Saudi labor market beneath Imaginative and prescient 2030 and promotes world dialogue on workforce transformation by drawing on worldwide experiences.
The minister affirmed that synthetic intelligence is among the many most influential elements reshaping labor markets globally. Whereas robotics and automation have contributed to market effectivity, they’ve additionally changed many conventional roles. He careworn that the way forward for work is now centered on sustainability and a deeper understanding of labor market transformations.
Al-Rajhi defined that the Saudi labor market has witnessed exceptional progress lately, reflecting the Kingdom’s severe efforts to strengthen the financial system and improve labor market effectivity. He identified that greater than 262 million younger women and men worldwide face unemployment or lack entry to training and coaching, underscoring the necessity to deal with labor markets to generate job alternatives.
The minister highlighted the significance of abilities growth and readiness for speedy technological modifications, significantly these pushed by synthetic intelligence. He said that the Kingdom is main the worldwide transformation of labor market insurance policies, including that the convention goals to deepen understanding of labor market dynamics.
He famous that the success of labor market reforms is determined by sturdy establishments and efficient coordination amongst authorities entities. “The Kingdom’s Imaginative and prescient 2030 focuses on strengthening labor market establishments, increasing abilities growth, and growing workforce participation,” he mentioned.
Al-Rajhi additionally introduced the launch of the Takamul Academy, which goals to increase its attain to 75 international locations over the following three years. He added that the convention will characteristic the presentation of analysis papers developed in collaboration with the World Financial institution, addressing speedy world transformations, significantly in labor markets.
The minister mentioned that the worldwide shift towards environmental sustainability has led to a major improve in inexperienced jobs, whereas geopolitical developments are having a direct affect on the way forward for work and employment markets worldwide. He additional outlined worldwide experiences, together with Singapore’s method to linking labor market growth with funding in training, stressing the significance of exchanging experiences amongst international locations and people to realize a deeper understanding of labor markets.
On the sidelines of the convention, a ministerial assembly was held with the participation of labor ministers. Discussions targeted on main challenges going through labor markets, together with technological transformation, abilities growth, the casual financial system, bettering job high quality, empowering youth and ladies, and selling inclusivity.
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Addressing the assembly, ministers emphasised that funding in human capital is central to financial progress. They known as for versatile insurance policies to handle the quickly evolving labor market and careworn the necessity to translate discussions into concrete actions by way of collaborative packages and partnerships with world organizations.
As many as 40 labor ministers and greater than 200 worldwide audio system are collaborating within the convention, together with over 10,000 delegates from inside and out of doors the Kingdom. This system consists of greater than 50 classes and occasions, underscoring the GLMC’s function as a world platform for shaping the way forward for work.
