Saudi Minister of Human Resources and Social Development Inaugurates the First-Ever Global Labor Market Conference

RIYADH, Saudi Arabia, Dec. 13, 2023 /PRNewswire/ -- H.E. Ahmad bin Sulaiman Al-Rajhi, Minister of Human Resources and Social Development (MHRSD) of the Kingdom of Saudi Arabia inaugurated the first-ever Global Labor Market Conference (GLMC) at the King Abdulaziz International Convention Center in Riyadh, Saudi Arabia. The opening ceremony, president over by H.E Minister Al-Rajhi, was witnessed by an audience of over 6,000 participants and attendees, hailing from over 40 countries. Included among the audience were high-ranking ministers from Saudi Arabia, policymakers, leaders of multinational organizations, heads of business, academics, and representatives of labor.

Minister's Welcome

In his opening address H.E. Minister Al-Rajhi highlighted Saudi Arabia's role in pioneering efforts that bolster international labor markets, allowing them to keep pace with frequent changes. He continued to highlight that dynamics of the labor market today are altogether different from those witnessed prior, including an increased demand for skills required by future jobs, new professions, and the changing nature of the global workforce.

H.E. Minister Al-Rajhi shared a number of statistics emphasizing the gravity of ongoing labor market dynamics, both related to emerging technology, such as the expectation that artificial intelligence technologies will create 133 million new jobs by 2030, as well as those related to changing worker preferences, such as the approximately 22 million people in the United States that now work full-time from their homes. Given these factors, H.E. Minister Al-Rajhi implored the audience that efforts be taken to ensure new technologies are implemented to maximize value for the global economy, build work environments free of exploitation, and avoid widespread sudden job loss.

The minister's address surveyed Saudi Arabia's local labor market, characterizing it as one of the world's most diverse, with an established status as a preferred destination for some of the global community's brightest minds and top talents. He highlighted how this includes local talent as well, particularly young Saudis who have achieved high levels of preparation and education. He stressed the talents of this cohort have motivated the Kingdom to create private sector-led work environments that meet the needs of the Saudi people.

Bridging the local with the global, H.E. Minister Al-Rajhi emphasized Saudi Arabia's keenness to cooperate with international partners in order to strengthen resiliency in light of past international crises that demonstrated the need for a unified approach. He added that only by cooperating can the global community leverage global labor market dynamics to bring about positive change on a global scale.

The opening ceremony made way for the start of the two-day conference, during which approximately 150 experts will participate in over 40 unique keynote addresses, panel presentations, and breakout sessions focused on the current challenges and future changes facing labor markets. The sessions are organized across eight key tracks: Global Labor Market Catalysts, Skills & Productivity Conundrums, Labor Market Makeovers, Work for All, AI Needs People?, Labor Market Re-engineered, The Right Way to (De)Regulate, and The Future Proofed Organization.

Ministerial Roundtable

The morning's events were immediately preceded by a ministerial roundtable discussion, during which H.E. Minister Al-Rajhi received minister-level labor officials from over 24 countries. During the session, participants discussed the most pressing opportunities and changes facing labor markets, and considered joint efforts that can be undertaken to address these challenges.

During the roundtable, H.E. Minister Al-Rajhi stressed that the current stage of the global labor market's evolution necessitates international solidarity, cooperation, and exchange in order to effectively respond to rapid, unprecedented changes related to workplace practices, emerging technologies, and geopolitical circumstances. Addressing the ministers, he characterized the inaugural GLMC as an apt opportunity to engage in this knowledge exchange and dialogue in order to formulate policies that lay a foundation for work environments that are resilient to ongoing and future challenges.

For more on the Global Labor Market Conference visit www.globallabormarketconference.com

About the Global labor Market Conference (GLMC)

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."

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