Closing of the Second Edition of the Global Labor Market Conference: Milestone Achievements and International Agreements to Shape the Future of Work

RIYADH, Saudi Arabia, Jan. 31, 2025 /PRNewswire/ -- The Global Labor Market Conference (GLMC) 2025 successfully concluded its Second Edition at the King Abdulaziz International Conference Center in Riyadh, following two days of insightful discussions and agreements to develop the future of work. The event brought together a distinguished international audience, with over 10,000 participants, 40 labor ministers, and more than 200 global experts and speakers representing over 100 countries, reinforcing GLMC's role as a dynamic global platform shaping the future of work.

Closing of the Second Edition of the Global Labor Market Conference: Milestone Achievements and International Agreements to Shape the Future of Work

After the opening ceremony, H.E. Eng. Ahmed bin Sulaiman Al-Rajhi, Minister of Human Resources and Social Development, delivered the keynote speech, where he unveiled the Global Labor Charter. This groundbreaking initiative was announced following a high-level Ministerial Roundtable, involving 40 labor ministers from around the world, and introduces eight key pillars, including youth workforce integration, readiness for digital transformation, investment in human capital, and enhanced collaboration between governments and industries to foster innovative, and employment-driven solutions.

Further solidifying the conference's impact, H.E. Al-Rajhi announced the launch of the Labor Market Academy, a GLMC collaborative initiative with the World Bank and Takamol Holding, aimed at equipping future labor market leaders with advanced policymaking expertise. The academy's inaugural cohort will include 30 participants, with plans to scale up to 600 participants within three years, fostering global knowledge exchange and policy innovation for adaptive labor markets.

Additionally, the conference introduced two GLMC Policy Labs, developed in partnership with the World Bank which served as dedicated platforms for critical discussions on labor market transformation. The Active Labor Market Programs (ALMPs) Lab focused on integrating youth into the workforce through tailored employment initiatives, while the Sectoral Skills Councils (SSCs) Lab is designed to enhance private sector involvement in skills development and workforce planning.

As a key driver of global labor market transformation, GLMC facilitated the signing of 70 memorandums of understanding (MOUs) and strategic agreements between government entities and private sector leaders, directly impacting over 300,000 individuals. These agreements focus on enhancing workforce skills, expanding employment opportunities, fostering innovation in labor policies, and strengthening global partnerships—all in alignment with Saudi Vision 2030 and GLMC's mission to create resilient and adaptive labor markets.

In this context, several significant MOUs were signed between the public and private sectors, marking strategic partnerships aimed at strengthening the labor market, improving training and employment opportunities, developing skills, and empowering national talent across key sectors. Notable collaborations included the Ministry of Tourism, Takamol Holding, INSEAD, UiPath, Proven Arabia, BVIS, and the Saudi Digital Academy—each contributing to the advancement of education, workforce efficiency, and skill development.

In line with its commitment to research and analysis, GLMC unveiled an international report titled "Making Labor Markets Work for the Youth", developed in collaboration with the World Bank. The report offers a comprehensive examination of economically inactive youth aged 15-24, exploring the economic and social implications of their disengagement from the labor market, and presents a strategic framework to tackle this issue, highlighting successful case studies and actionable solutions.

Over two days, 40-panel discussions were held, featuring 200 global speakers who explored key topics such as the impact of artificial intelligence and emerging technologies on employment, demographic shifts in labor markets, bridging the skills gap, and strategies to empower youth and promote green jobs. Sessions brought together distinguished figures from the public and private sectors, international organizations, and leading academics, fostering innovative solutions to enhance labor market sustainability.

Recognized as one of the most influential global platforms in global labor development, GLMC continues to cement its position as a premier international hub, bringing together governments, private sector leaders, global institutions, and thought leaders to facilitate knowledge exchange, analyze labor market trends, and design forward-thinking policies to keep pace with the rapid transformations in the world of work.

The success of the Global Labor Market Conference 2025 underscores Saudi Arabia's dedication to shaping the future of work, driving innovation, and fostering global labor market progress. By strengthening partnerships and focusing on policy advancement, the conference sets the stage for a resilient, inclusive global workforce. GLMC's transition into a year-round knowledge hub ensures ongoing collaboration and impactful action, reinforcing the Kingdom's commitment to sustainable labor markets and advancing Saudi Vision 2030 through human capital development.