RIYADH -- Saudi Arabia is likely to remain the dominant construction market in the GCC for the foreseeable future with an estimated $200 billion spend in construction projects planned over the next two years. "This development is expected to spur continued growth among stakeholders in the Kingdom's construction market, especially for local businesses. Equally important, as the sector develops, more employment opportunities should open up for Saudi nationals and further contribute to the country's continued push for economic growth," said Ibrahim Al-Moaiqel, director general, Human Resources Development Fund (HRDF), which was established to intensify Saudization within the private sector under the Nitaqat program, touted to be one of the world's largest quota-based labor policies.
To support its Saudization efforts, the HRDF has joined forces with leading regional business intelligence firm MEED to organize the first ever Saudi Talent in Construction Conference, which hopes to encourage discussions on the Kingdom's talent development programs and policies, particularly within the construction sector. Al-Moaiqel will deliver the conference's keynote address on "Obligations of the private sector to provide strategic partnerships and training opportunities for students and nationals in the construction sector".
"A recent industry report says overall employment across the GCC is still on the rise, despite the fall in oil prices and its subsequent effect on regional economies. Saudi Arabia, however, is pushing through with its investment plans in the construction sector so that should mitigate any slowdown felt in other sectors," said Colin Foreman, Editor, MEED which is organizing the Saudi Talent in Construction Conference which will take place on Dec. 6 at the Intercontinental Hotel Riyadh, Saudi Arabia.
"Interestingly, the same report says the construction sector is forecast to have the highest average salary increase at 10 percent, which will hopefully encourage more Saudi nationals to take on jobs in construction projects that are expected to get under way in the Kingdom." The ministerial opening address will be delivered by Ahmed Al-Humaidan, vice minister of labor, Ministry of Labor, who will share the latest update on the Kingdom's labor policy and visa regulations to support the construction industry. This will be followed by a presentation by Dr. Abdulkader Alfantoukh, deputy minister of education for planning & information, Ministry of Education, whose address will focus on aligning university programs with the requirements of the Saudi labor market to develop future Saudi leaders.
Set to host over 200 delegates from across the region, the conference, with its impressive lineup of keynotes, panel sessions, presentations and networking opportunities will provide an ideal platform for various stakeholders to learn more about employment opportunities and challenges in Saudi's construction industry. The Saudi Talent in Construction Conference is supported by EY and The Talent Enterprise as Knowledge Partners, Bayt.com as Strategic Career Partner and AYTB as Bronze Sponsor.
© The Saudi Gazette 2015
