Inaugural Global Labor Market Conference to Return as Annual Gathering, Closes Successful Event with Remarks from Minister of Human Resources and Social Development

USA - English

• USA - English

• GLMC to return as annual event; annual Global Labor Market report to be published
• Minister of Human Resources and Social Development emphasizes need to continue global dialogue
• Nearly 70 Agreements valued at USD $137 million announced to bolster global labor markets

RIYADH, Saudi Arabia, Dec. 14, 2023 /PRNewswire/ -- Following a successful two days, H.E. Ahmad bin Sulaiman Al-Rajhi, Minister of Human Resources and Social Development of the Kingdom of Saudi Arabia closed the inaugural Global Labor Market Conference by reflecting on its success, and announcing GLMC will reconvene as an annual event.

Addressing the crowd, H.E. Minister Al-Rajhi said of the event's successful inauguration, "I look to the past two days with satisfaction and pride, something I am sure I share with all the 6652 individuals from 40 national delegations who registered and attended this conference."

Of the importance of the knowledge exchange that occurred during the event, Mr. Al-Rajhi continued, "What is clear to me is that in this future, we should all continue to exchange ideas on how best to prepare our labor markets to be inclusive of all."

Given this ethos, and with momentum from the successful first iteration, H.E. Minister Al-Rajhi formally announced GLMC would return as an annual event, in addition to announcing the forthcoming publication of the first annual Global Labor Market report.

Dozens of Agreements Announced

Over the course of 13-14 December the event witnessed the successful signing of approximately 70 agreements and memoranda of understanding (MoUs) valued at approximately USD $137 million, each of which is designed to bolster labor market resiliency, in Saudi Arabia, the region, and around the world.

The diverse collection of announcements included workforce development programs, educational initiatives, scholarship grants, leadership training agreements, data sharing measures, new initiatives, projects to bolster inclusivity, and many more.

Among the prominent entities taking part in the GLMC Announcement Stage included Takamol, Ministry of Human Resources and Social Development, Human Resources Development Fund,  Ministry of Health, Riyadh Air, NEOM, Riyadh Airports Company, Saudi Investment Bank, National Council for Safety and Health, BAE Systems Saudi Arabia, Oracle,  Authority for the Care of Persons with Disabilities, Indian Ministry of Skills and Entrepreneurship, Mudad, Al-Rajhi Bank, Bank Albilad, Riyad Bank, Almarai Company, Transport General Authority, Bank Aljazira, Saudi Commission for Health Specialties, Al-Rabie Saudi Foods Co, and many others.

Highlights included Takamol's launch of the eponymous 'Takamol Academy,' a comprehensive training program developed with international partners to heighten the human capital resources of Saudis through innovative training and international partnerships.

Announcements also included a Memorandum of Understanding (MoU) between the Saudi Human Resources Development Fund (HRDF), a GLMC Strategic Partner, and Riyadh Air to train and support female members of their workforce.

Elsewhere in the airlines sector Riyadh Airports Company and the ROI Institute announced an MoU that provides for ROI's operation of training programs and consultations that will aid Riyadh Airports in evaluating the success of various projects and programs.

The day's announcement also emphasized GLMC's 'Work for All' track, through an MoU between the Saudi Ministry of Human Resources and Social Development and Riyad Bank, a GLMC Platinum Partner. The MoU prioritizes the enactment of efforts to improve services for persons with disabilities by identifying and removing obstacles to their access and participation in the banking sector.

In addition to the nearly 70 agreements, the event's successes were bolstered by the over 6,000 attendees and 120 participants, who cumulatively represented over 40 countries.

To learn more about the inaugural Global Labor Market Conference visit www.globallabormarketconference.com

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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