Saudi Cabinet Ministers, High Level Officials Focus on Local and International Dynamics at the Inaugural Global Labor Market Conference

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RIYADH, Saudi Arabia, Dec. 13, 2023 /PRNewswire/ -- Saudi cabinet ministers and high-level officials highlighted developments related to Saudi and international labor markets at the inaugural Global Labor Market Conference (GLMC) in Riyadh, Saudi Arabia.

After having presided over GLMC's opening ceremonies, H.E. Minister Ahmad bin Sulaiman Al-Rajhi, Minister of Human Resources and Social Development continued addressing issues related to the Saudi Labor Market, particularly the Kingdom's successful job creation efforts. The minister highlighted recent achievements, including the increase in Saudis employed in the private sector from 1.7 million to 2.3 million, a new record for the Kingdom. Additionally, H.E. Minister Al-Rajhi lauded Saudi Arabia's successes in integrating Saudi women into labor markets, increasing from 17.7% to 35.5%, already exceeding the goal originally set in the Kingdom's Vision 2030.

The minister went on to attribute this success to the Kingdom's localization policies, which have contributed to the creation of approximately 260,000 jobs, with notable increases in the engineering sector, from 40,000 to 70,000, and the accounting professions which grew from 39,000 to 103,000. In addition to localization, H.E. Minister Al-Rajhi cited a number of programs aimed at fostering entrepreneurship within the Kingdom, including the provision of loans and workspace, as well as relaxed visa requirements and exemptions for entrepreneurs.

Sessions of the first day featured participation of a number of additional Saudi Ministers, including H.E. Abdullah Al-Swaha, Minister of Communication and Information Technology, who was the featured speaker in a segment "Developing a Workforce for Next-Generation Technologies." H.E. Minister Al-Swaha spoke of the potential hindrances posed by the incoming proliferation of artificial intelligence technologies, a risk addressed by the Kingdom through partnerships. Among these includes a relationship with online learning platform Coursera, which ensures all new generations have knowledge of AI. In particular, H.E. Minister Al-Swaha credited the Kingdom's success in the AI sector to the efforts of His Royal Highness Crown Prince Mohammed bin Salman, who considers it a personal priority.

Later, H.E. Ahmed Al-Khatib, Minister of Tourism emphasized the importance of the tourism sector in facilitating knowledge exchange across cultures. According to the minister, this is likely to only grow as the Kingdom continues toward the goals outlined in the National Tourism Strategy. Among them include efforts to raise tourism's contribution to Saudi GDP from 3% to 10%, a target that will require the creation of approximately 1 million new Saudi jobs, 250,000 of which have already been created.

In a fireside chat titled "Driving Investment, Catalyzing Impact for Workforce Opportunities," H.E. Khalid Al-Falih, Minister of Investment, stated, "In KSA, we focus on creating job opportunities for Saudis without compromising competitiveness and private sector enterprises." He continued, "We're not just about capital and resources but showcasing Saudi talent as a competitive and leading force."

Finally, among ministers, Day 1 of GLMC featured a conversation with H.E. Faisal F. Alibrahim, Minister of Economy and Planning. He spoke of the importance of productivity, describing the focus on increasing GDP not merely as an end unto itself, but an effort to create "a highly skilled workforce, an innovative environment, and better standards of living." In his remarks he focused on the challenges posed by the advent of artificial intelligence, saying, "The changes in technology we're witnessing today will almost disrupt every sector. We can be a part of that group of authors who will define what that'll look like, or we can be a part of the early adopters who can benefit from those changes."

The ministers featured in day one of the inaugural GLMC were among a strong line-up of over 120 participants, who over the course of the day two summit will continue appearing in numerous keynote addresses, informational panels, fireside chats, and breakout sessions concerned with all aspects of the challenges and opportunities facing labor markets.

For more information, visit globallabormarketconference.com.

For media inquiries, contact [email protected].

About the Global Labor Market Conference

The Global Labor Market Conference is a platform that aims to convene experts, specialists, and representatives of labor market stakeholders to engage in discussions about current and future international market challenges and propose innovative solutions to address them. Launched in Riyadh by the Ministry of Human Resources and Social Development of the Kingdom of Saudi Arabia, this annual conference seeks to establish a forum for the exchange of ideas, collaboration, and as a driving force for positive changes in labor practices on a global scale.

The event will gather Excellencies, the Ministers of Labor from G20 countries, leaders of pertinent international organizations, high-ranking officials, and figures from government and private sectors worldwide. It will also draw participation from major investors in both local and international private sectors. The conference's primary focus will be on policies and best practices related to labor markets, while emphasizing the pivotal roles of employers and governments in shaping a harmonious and inclusive labor market.

In addition to the core conference program, which will delve into topics concerning the future of labor markets, the ongoing transformations in the world of work, and the influence of globalization, several ancillary activities will take place. These will include specialized workshops, diverse events, the signing of numerous memorandums of understanding and agreements, and the recognition of distinguished institutions and organizations within the labor market through the "Labor Award."

SOURCE Ministry of Human Resources and Social Development - Kingdom of Saudi Arabia

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