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Signing 15 Agreements and MOUs worth SAR 246 Million n First Day of the GLMC

Publication date: 31 December 2023 - 18 Jumada al-thani 1445

The activities of the first day of the Global Labor Market Conference, which was launched today in Riyadh, witnessed the signing of more than 15 agreements and MOUs between a number of entities, totaling SAR 246 million (about USD 65.5 million), for the purpose of providing thousands of training opportunities and jobs.

The concluded agreements covered the implementation of a variety of development and training programs, educational initiatives, scholarships, leader preparation agreements, and knowledge and data exchange, with the aim of enabling multiple segments of new graduates, women, people with disabilities, and others to obtain suitable job opportunities through their habilitation and qualification and providing them with appropriate training. Among the most prominent entities that participated in signing the agreements were the MMHRSD, the Human Resources Development Fund, Riyadh Bank, Riyadh Airports Company, and Riyadh Airlines.

Among the MoUs concluded today is a MoU between the MHRSD and the Riyadh Bank, the Platinum Partner of the Global Labor Market Conference. It provides for the cooperation of the two parties to improve the services provided to people with disabilities by identifying and removing obstacles to their access and participation in the banking sector.

The concluded agreements related to the aviation sector included a MoU between the Human Resources Development Fund, the strategic partner of the Global Labor Market Conference, and the "Riyadh Air", which provides for the provision of the necessary resources and expertise to establish a training program for Riyadh Air employees, with a special focus on women's empowerment. Riyadh Airports also announced the signing of a MoU with the Investment Institute (ROI), which provides for the organization of a number of training and consulting programs by the Institute for the benefit of Riyadh Airports, in order to help them evaluate the performance of its various projects and programs.

Takamul Holding Company announced the signing of a training agreement for the qualification of leaders with the University of Management in Paris, which provides for the parties to explore areas of cooperation between them, including the development of material, the preparation of leaders and the possibility of organizing management education programs in the Kingdom.

The Global Labor Market Conference will continue on Thursday its activities including the 40 panel sessions and the signing of the total of 80 agreements and MoUs, addressing a number of issues related to the labor market, such as the effects of artificial intelligence, inclusiveness in the workplace, the gap between the labor market and talents, and regulatory concerns about the future of labor markets.

This morning, Riyadh hosted the first edition of the Global Labor Market Conference, organized by the MHRSD at the King Abdulaziz International Conference Center KAICC. More than 2000 participants from 40 countries, a number of Ministers and government officials, a group of leaders and heads of international and professional organizations and representatives from academia attended the Conference. It was intended to provide a platform for the exchange of knowledge and presentation of up-to-date experiences of labor market experts, through 40 panel sessions, including 150 speakers, in order to generate Actionable visions that would address the labor market challenges and develop common solutions globally.

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