Vision 2030 Requires a Qualification Shift in Saudi Workforce

Mercer Saudi Arabia CEO Mahmoud Ghazi | Asharq Al-Awsat
Mercer Saudi Arabia CEO Mahmoud Ghazi | Asharq Al-Awsat
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Vision 2030 Requires a Qualification Shift in Saudi Workforce

Mercer Saudi Arabia CEO Mahmoud Ghazi | Asharq Al-Awsat
Mercer Saudi Arabia CEO Mahmoud Ghazi | Asharq Al-Awsat

Global consultancy firms stress that initiatives, projects, and strategies recently announced by Saudi Crown Prince Mohammed bin Salman require that operating sectors in the Kingdom develop several key features.

Meeting under the arch of a national transformation plan, dubbed Vision 2030, projects like “The Line,” initiatives like the “Red Sea Project” and strategies like the “Riyadh Strategy,” demand Saudi industries start a new development phase for fundamental aspects such as human capital, performance assessment, and digital transformation.

It is vital that authorities in both public and private sectors seek to engage in the transformations needed to realize the Kingdom’s aspirations, Mercer Saudi Arabia CEO Mahmoud Ghazi told Asharq Al-Awsat.

According to Ghazi, the desired levels of administrative and operational change have also expanded under the new reality imposed by the coronavirus pandemic.

He recommended shifting focus to optimizing internal plans and strategies and setting clear goals that work in concert with the rapid changes needed help along with a transformation in the Saudi economy.

Ghazi also pointed out the importance of raising the efficiency of human capital to meet foreseeable changes at the level of plans in the Kingdom.

Training and qualification programs and courses for stepping up performance must be administered across all departments and even include boards of directors and technicians.

The Mercer CEO added that it is also necessary to measure performance and production standards in administrative work. This will help enhance the efficacy of motivation, reward, assessment, control, and progress.

Other than identifying and filling existing gaps, improved performance and quality control will help sectors become more flexible and adjust to the expected shift in administrative systems.

With Vision 2030 projects set to generate over two million jobs, Ghazi pointed out that Saudi Arabia will likely witness a boom in job opportunities requiring qualification and training.



E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
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E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters

China's State Administration of Market Regulation issued a statement on Friday saying Alibaba Group had completed three years "rectification" following a fine levied in 2021 for monopolistic behavior.
In 2021, the regulator slapped a record $2.75 billion fine on the e-commerce giant for abusing its market position by forcing merchants on its platforms not to work with rival platforms.
The regulator's statement said Alibaba's rectification work had achieved "good results" and that it would continue to "guide" Alibaba to continue to "regulate its operations and improve its compliance and quality."
The fine levied on Alibaba in 2021 came during a period of intense scrutiny for the business empire founded by billionaire Jack Ma, Reuters reported. A $37 billion IPO by the finance arm he founded, Ant Group, was also scuttled following Ma's public critique of the country's regulatory system in late 2020.
Alibaba, in its own statement, described the regulator's announcement on Friday as a "new starting point for development" and said it would continue to "promote the healthy development of the platform economy and create more value for society."