The World Bank has hailed collaboration with Saudi Arabia as a blueprint for success and a driver of economic growth, reported the Saudi Press Agency (SPA).
The Vice President for the People at the World Bank, Mamta Murthi, said that the World Bank’s partnership with the Kingdom serves as an “effective model for turning evidence-based policies into tangible economic opportunities for firms of all sizes,” while advancing job growth and human capital development.
Speaking at the third edition of the Global Labor Market Conference (GLMC) in Riyadh, Murthi identified workforce modernization as a necessity to keep pace with rapid global economic shifts.
Moreover, she stressed that the private sector is central to this transformation, serving as the primary engine for creating inclusive and sustainable job growth.
Murthi also pointed to key initiatives aimed at expanding the World’s Bank agenda in the fields of knowledge and learning. These include the launch of an annual labor market academy, the formation of a global advisory committee of experts, and the preparation of practical toolkits to support rapid, focused workforce interventions.
Furthermore, she announced that the World Bank will release a specialized report on progress achieved by Saudi Arabia in labor market reforms and skills development.
Riyadh is hosting the third edition of the GLMC on January 26-27, 2026, convening ministers of labor, policymakers, and experts from across the world to discuss challenges facing labor markets.
