RIYADH: Saudi Arabia is developing as a global leader in tackling labor market problems, skill development, and worker requalification, according to a Global Labor Market Conference report.
The first report, produced by a conference organized by the Kingdom’s Ministry of Human Resources and Social Development, stressed the government’s efforts to close the gap between academic qualifications and market demands.
These initiatives include improving education and training programs and preparing young job seekers for the quickly changing global labor market.
The findings are consistent with Saudi Arabia’s Vision 2030 ambitions, which seek to cut unemployment from 11.6 percent in 2017 to 7% by the end of the decade. The strategy focuses on fostering national talent, requalifying the workforce, and pushing economic diversification to strengthen the Kingdom’s worldwide competitiveness.
“Saudi Arabia has made significant strides in increasing access to education, improving quality, and promoting inclusive learning opportunities,” according to the analysis.“Respondents, in fact, identified cognitive skills, management skills, as well as socio-emotional skills as the three most critical competencies to succeed in the current labor market.” the report stated.
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