The partnership between Saudi Arabia and the World Bank is emerging as a blueprint for how evidence-based policy can translate into tangible economic outcomes, according to Mamta Murthi, Vice President for People at the World Bank Group.

Speaking at the Global Labor Market Conference in Riyadh, Murthi said the collaboration with Saudi Arabia shows how data-driven reforms can unlock economic opportunities for businesses of all sizes, while supporting job creation and long-term human capital development.

As global economic shifts accelerate, Murthi stressed that modernising workforce systems is no longer optional. She highlighted the critical role of the private sector in driving this transformation, noting that inclusive and sustainable employment growth depends on closer alignment between skills development, labour market needs, and business demand.

To support this agenda, Murthi outlined several new initiatives, including the launch of an annual labour market academy, the creation of a global advisory committee comprising labour and policy experts, and the development of practical toolkits designed to enable short-term, targeted workforce interventions.

She also announced that the World Bank will release a dedicated report assessing Saudi Arabia’s progress in labour market reforms and skills development. The report will offer insights into how policy, institutions, and private sector participation are shaping the Kingdom’s evolving employment ecosystem.

The remarks come as Saudi Arabia continues to advance labour and human capital reforms as part of its broader economic transformation, with workforce readiness and private sector participation seen as central to sustaining long-term growth.