Investing in Human Capital Vital for Economic Development and Sustainability in the Age of Automation
Engineer Khaled Al-Falih, the Minister of Investment, emphasized that Saudi Arabia has made significant progress in the field of human capital development, enhancing readiness for the future as part of the goals of Vision 2030, which prioritize investment and education. This was highlighted during his participation in a dialogue session titled “Investing in Human Capital and Redefining it in the Era of Automation,” which discussed various aspects of investing in human resources in light of global economic transformations and rapid technological advancements.
Al-Falih stressed the complementary relationship between investment and human capital development, noting that since its establishment, the Kingdom has placed great emphasis on building humans as a fundamental pillar for any developmental renaissance. He pointed out that investing in education is no longer an option but a necessity, as the two sectors intersect continuously and strengthen each other.
He explained that foreign investments in the Kingdom have quadrupled recently, indicating an improvement in the investment climate. Moreover, the number of regional headquarters for international companies has exceeded 600 within the Kingdom, reflecting increased global confidence in the Saudi market, especially with promising opportunities in the education sector.
Al-Falih highlighted the importance of empowering the national workforce and developing their core skills to meet the changing needs of the labor market, emphasizing that keeping up with modern technologies requires continuous skill updating to ensure a balance between humans and technology.
In conclusion, he called for adopting a comprehensive perspective in human capacity development, emphasizing that this responsibility does not fall on one entity alone but is a collective task. It is essential to keep humans at the heart of development and modernization processes, regardless of technological advancements.
