Saudi Arabia places preparing workforce for future top priority: Economy Minister

Saudi Arabia’s Minister of Economy and Planning, Faisal Al-Ibrahim, emphasized the critical importance of preparing for the future of the labor market, as reported by the Saudi Press Agency.

Al-Ibrahim underscored the need for specialized initiatives to retrain the workforce and strong partnerships with the private sector to adapt to the changes brought about by automation and artificial intelligence.

The minister further highlighted the pivotal role of small and medium-sized enterprises in driving economic growth, noting that the government is dedicated to fostering a culture of innovation and entrepreneurship to support sustainable development.

Al-Ibrahim also revealed that educational reforms have been strategically designed to ensure a skilled future workforce. The focus is on skills-based learning and promoting innovation, particularly in the fields of science, technology, engineering, and mathematics (STEM), with the aim of positioning Saudi Arabia as a leader in these areas.

These remarks were made during a session titled “Human Capital: The Foundation of Economic Growth,” organized by the General Secretariat of the Gulf Cooperation Council within the framework of the annual meetings of the World Bank Group and the International Monetary Fund.