In Riyadh, the Saudi cabinet ministers and high-level officials gathered for the first Global Labor Market Conference (GLMC). They delved into both local and international dynamics. The event took place on December 13 and 14. It aimed to position itself as an international hub for discussions on the future of labor laws, standards, and innovation.
In collaboration with the World Bank and International Labor Organization, the GLMC is a platform for global collaboration, idea exchange, and change in labor practices. The conference demonstrated a promising trajectory toward achieving its goals.
Over two bustling days, the GLMC attracted dignitaries, G20 labor ministers, leaders of international organizations, and decision-makers from global government and private sectors. Major investors, both local and international, were also actively involved in the conference.
Key highlights included a ministerial meeting gathering 20 labor ministers worldwide and signing agreements totaling more than $133 million. Day one featured Saudi cabinet ministers and officials shedding light on developments in Saudi and the global labor markets.
H.E. Ahmad bin Sulaiman Al-Rajhi, Minister of Human Resources and Social Development, showcased Saudi Arabia’s achievements, emphasizing successful job creation efforts. Besides, notable accomplishments included a record-breaking increase in Saudis employed in the private sector and a significant rise in integrating Saudi women into the labor market, surpassing Vision 2030 goals.
Attributing success to localization policies, Minister Al-Rajhi highlighted notable job increases in sectors such as engineering and accounting. In addition to localization, he outlined programs fostering entrepreneurship through loans, workspace provisions, and relaxed visa requirements.
Day one also featured H.E. Abdullah Al-Swaha, Minister of Communication and Information Technology, addressing the challenges of developing a workforce for next-generation technologies. The risk posed by the proliferation of artificial intelligence technologies was tackled through partnerships, such as the collaboration with Coursera.
H.E. Ahmed Al-Khatib, Minister of Tourism, emphasized the tourism sector’s role in facilitating knowledge exchange and outlined goals of increasing tourism’s contribution to Saudi GDP. H.E. Khalid Al-Falih, Minister of Investment, highlighted the focus on creating job opportunities without compromising competitiveness.
H.E. Faisal F. Alibrahim, Minister of Economy and Planning, stressed the importance of productivity in a changing landscape shaped by artificial intelligence. The ministers, part of a robust lineup of over 120 participants, engaged in various sessions addressing challenges and opportunities in today’s labor markets during the inaugural GLMC.
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