Riyadh: Minister of Human Resources and Social Development Ahmed Al-Rajhi patronized the fifth edition of the Labor Award during the third Global Labor Market Conference, celebrating private sector excellence and emphasizing that market leadership is now a strategic necessity for national development. This year's edition saw more than 216,000 establishments compete for 37 awards across five specialized tracks.
According to Saudi Press Agency, Al-Rajhi noted that the award serves as a comprehensive incentive tool designed to increase quality Saudization rates, enhance occupational safety and health standards, and invest in skills development and executive leadership.
He highlighted significant milestones in the Saudi labor market driven by Vision 2030, noting that the number of Saudis employed in the private sector has surged to 2.5 million, reflecting a 53% participation rate. This progress is underscored by a substantial rise in female workforce representation, which reached 34.5% compared to 23% in 2020, alongside the strategic adoption of flexible, freelance, and remote work models that have bolstered market stability and productivity.
In his closing remarks, the minister honored the winning establishments, describing them as models of competitiveness and talent attraction that define the modern Saudi work environment.