Human Resources and Social Development Minister Eng. Ahmad bin Sulaiman Al-Rajhi inaugurated today the first-ever Global Labor Market Conference (GLMC) at the King Abdulaziz International Convention Center in Riyadh.

 Over 6,000 participants from over 40 countries attend the conference, including a number of Ministers and government officials, a group of leaders and heads of international and professional organizations, and representatives from the academia.

In his opening address, Al-Rajhi highlighted Saudi Arabia’s role in efforts to bolster international labor markets and enable them to keep pace with its frequent changes. He said that dynamics in the labor market are nowadays different, and this includes growing demand for skills required by jobs of the future, new professions, and the changing nature of the global workforce.

He added that the expectation that artificial intelligence-related technologies will create 133 million new jobs by 2030 – or to changing worker preferences, for example that approximately 22 million people in US now work full time from home. He said efforts should be taken to ensure that new technologies are utilized to maximize the value of the global economy, build work environments free of exploitation, and avoid widespread sudden job losses.

He added that the Kingdom holds one of the world’s most diverse, and that it has an established status as a preferred destination for some of the global community’s brightest minds and top talents. It also makes use of local talent, particularly young Saudis who have achieved high levels of preparation and education. he talents of this cohort, he said, have driven the Kingdom’s push for a private sector-led work environment that meets Saudis’ needs.

He added that Saudi Arabia is keen to cooperate with international partners to strengthen resiliency, particularly in light of past international crises that demonstrated the need for a unified approach. He said that the opportunity is here to bring about positive change on a global scale.
 
Following the address, the conference sessions began. The sessions will cover eight key tracks, with the participation of 150 speakers on the most prominent influences and trends in the global labor market, and issues of restructuring the labor market.

The conference was preceded by a ministerial roundtable during which Al-Rajhi received minister-level labor officials from over 24 countries. Participants discussed the most pressing opportunities and changes facing labor markets, and suggested joint efforts that can be exerted to address challenges.

At the beginning of the ministerial session, Al-Rajhi also stressed that the current stage of the global labor market 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. He told the ministers taking part in the roundtable that GLMC is an opportunity to engage in dialogue and exchange knowledge in order to formulate policies that lay the foundation for work environments that are resilient to ongoing and future challenges.

The Global Labor Market Conference, which is the first of its kind, 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, and enhance the capabilities of the international community to meet the needs of the market, where supply and demand for manpower meet.