His Excellency the Minister of Human Resources and Social Development, Eng. Ahmad bin Sulaiman Al-Rajhi, announced the launch of the Labor Market Academy in Riyadh during his opening speech at the second edition of the Global Labor Market Conference. The initiative is a strategic partnership between the Global Labor Market Conference, the World Bank, and Takamul Holding, aimed at developing the skills of labor market policymakers worldwide. The academy seeks to address employment and development challenges while ensuring the sustainability of future economies.
The academy is designed to prepare qualified experts to lead the development of future labor market policies. It provides a specialized platform for knowledge exchange among countries, leveraging the expertise of the World Bank and the Global Labor Market Conference network. Participants will be trained to apply their acquired knowledge in their respective countries to enhance labor market policies on a global scale.
In its inaugural cohort, the academy will train 37 participants from 27 countries and 25 ministries worldwide. As part of its expansion plan, the academy aims to train over 600 participants over the next three years, with a focus on supporting countries under the World Bank’s umbrella by strengthening their capabilities in policy formulation and implementation. This global approach underscores the academy’s broad-reaching impact.
The academy's training programs focus on three key pillars, developing labor market policies, implementing policies to achieve the desired impact, and field-based learning and practical application to enhance skills and expertise.
Following the announcement, His Excellency the Deputy Minister of Human Resources and Social Development for Labor, Dr. Abdullah bin Nasser Abuthnain, emphasized that this initiative marks a strategic step toward building a new generation of leaders capable of formulating innovative and sustainable policies. He highlighted that investing in capacity building and skill development is key to tackling global labor market challenges and creating inclusive, efficient, and sustainable economic growth opportunities.
Dr. Ahmad Al-Yamani, CEO of Takamul Holding, pointed out that studies conducted by the Global Labor Market Conference underscored the urgent need to reshape labor market policies to ensure readiness for present and future challenges. He added that initiatives such as the Labor Market Academy and policy labs play a vital role in empowering future leaders by equipping them with the tools, expertise, and global networks necessary to drive meaningful change. He stressed that international conferences serve as a platform for fostering partnerships, knowledge exchange, and innovative thinking, turning ideas into practical solutions.
The Global Labor Market Conference, held over two days at the King Abdulaziz International Conference Center in Riyadh, brings together high-level ministerial delegations from the G20 countries, Europe, Asia, the Middle East, Africa, and the Americas. The conference is organized in collaboration with the International Labour Organization (ILO), the World Bank, the United Nations Development Programme (UNDP), and Misk Foundation, featuring over 100 countries, 5,000 participants, and more than 200 international speakers, including CEOs, global experts, and policymakers. Discussions focus on innovative strategies to address global labor market challenges.
As efforts continue to strengthen international partnerships and develop effective labor market strategies, the Labor Market Academy stands as a key milestone in shaping the future. By empowering leaders and driving policy-level impact, the academy contributes to sustainable development and the creation of new employment opportunities worldwide.