Human Resources Development Fund and the private sector: Workshop to promote localization
In a move aimed at strengthening cooperation, the Human Resources Development Fund (HRDF) a strategic workshop with representatives of private sector at the Ministry of Human Resources and Social Development headquarters in Riyadh. This meeting is part of a series of ongoing efforts to align the visions of the public and private sectors to serve the Saudi labor market.
Context of the event and its national dimensions
This workshop cannot be viewed as a mere event; rather, it is a crucial link in the chain of initiatives under the Kingdom's Vision 2030. Since the Vision's inception, the Human Resources Development Fund (HRDF) has played a pivotal role in restructuring the labor market, transforming from a purely financial entity into a strategic partner in training and empowering Saudi nationals. These meetings gain their importance from the pressing need to align government support programs with the actual and evolving needs of private sector establishments, which are the primary engine of non-oil economic growth in the Kingdom.
High-level attendance and enhanced cooperation
The workshop witnessed a high-level attendance reflecting the leadership's interest in the Saudization initiative. His Excellency Engineer Ahmed bin Sulaiman Al-Rajhi, Minister of Human Resources and Social Development and Chairman of the Board of Directors of the Fund, was present, along with His Excellency Mr. Turki bin Abdullah Al-Jawini, Director General of the Fund. A select group of executive leaders and representatives from major private sector establishments also participated, lending an interactive and practical dimension to the discussions.
The workshop primarily aimed to enhance integration, contributing to employment not just in terms of numbers, but in terms of genuine job sustainability. Discussions focused on developing more precise and targeted programs and directing support more efficiently and effectively to ensure that national talent remains the preferred and first choice for employers.
Strategic trends and their expected impact
The participants discussed the strategic directions of the Human Resources Development Fund for the next phase and mechanisms for aligning them with employers' aspirations. This approach has a wide-ranging economic and social impact; locally, it contributes to reducing unemployment rates and increasing citizens' participation in the national economy. Regionally, the Kingdom's success in building a sustainable localization model based on efficiency and productivity serves as a model to be emulated in Gulf and Arab labor markets.
The workshop concluded by emphasizing that developing the Fund’s strategy is an ongoing and dynamic process, primarily aimed at raising the efficiency of human capital and meeting current and future labor market needs, thereby ensuring the continuation of sustainable economic development in the Kingdom.
