The launching ceremony was attended by the Saudi Minister of Labor and Social Development and chairman of the board of directors of Hadaf, Ahmed bin Sulaiman Al-Rajhi, and leading figures from the public and private sectors.

The new strategy will help the development of human capabilities and allow them to enter and remain sustainable in the labor market. This comes in line with the Kingdom’s Vision 2030 and labor market plan that encourages the private sector to contribute to localization.

The strategy is a result of several collaborative efforts between government agencies and the private sector to define the fund’s direction and role in supporting the development of national individual capital.

It is built around three key objectives, which consist of supporting human resources development to meet labor market demands, boosting the efficiency of matching supply and demand, and enabling sustainable employment.

Developing the strategy included an assessment of the current situation and an analysis of the fund’s internal and external environments and the satisfaction levels of beneficiaries and employers.

It also includes coordination, cooperation and sharing with stakeholders and business partners in the private sector their vows and proposals.

Earlier in January, Hadaf also signed a cooperation agreement with the National Industrial Development and Logistics Program in Riyadh to encourage the training and recruitment of Saudi trainees.

Furthermore, it claimed that in 2022, it facilitated the employment of 400,000 persons in private-sector firms through its programs and initiatives.