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Saudi Arabia’s Vision 2030 is transforming women’s lives, says Princess Reema

A recent World Bank report shows a notable increase in female labor participation from 22% in 2016 to 34% in 2023.

Saudi Arabia’s Vision 2030 is transforming women’s lives, says Princess Reema
[Source photo: Image for representation purpose only | Krishna Prasad/Fast Company Middle East]

Saudi Vision 2030 has significantly transformed the lives of women in the kingdom, opening up more opportunities in both the public and private sectors, according to Princess Reema bint Bandar, Saudi Arabia’s ambassador to the US.

Speaking at the HERizon Summit, held alongside the eighth Future Investment Initiative, she emphasized that the right policies are crucial for accelerating women’s progress in business and entrepreneurship. The event, themed “Invest in Women,” aims to bridge the gender gap and empower women in the global workforce.

A recent report by the World Bank confirmed Saudi Arabia’s progress in gender parity, noting a substantial increase in female labor participation from 22% in 2016 to 34% in 2023.

Princess Reema attributed much of this progress to regulatory reforms and legal changes that have not only pushed the government’s inclusion efforts but also provided a framework for the private sector to understand its responsibilities.

However, she stressed that more policies and investments are needed, particularly in implementation and ensuring women have access to the necessary resources. She further advocated for mentorship, internships, and training programs to help Saudi women explore new career opportunities. Princess Reema also emphasized the importance of finding the right woman for the right role, not just any woman.

“The women in the kingdom of Saudi Arabia, we are not tokens. We are not a box to tick. We are women who are dedicated to the development, not just about the country, but about families, nations, and our neighborhood,” she added.

Richard Attias, CEO of the FII Institute, highlighted the importance of the HERizon Summit in recognizing women’s potential globally. He called for breaking down barriers to ensure equal opportunities for women in all sectors. “When women rise, a nation prospers,” Attias said.

Cecilia Attias, founder of the Cecilia Attias Foundation for Women, advocated for gender quotas on company boards to ensure parity. Meanwhile, Jenny Johnson, CEO of Franklin Templeton, noted that despite limited support, women-led venture capital funds in the U.S. have consistently outperformed, offering double the returns of their male counterparts.

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