Ministry of Economy and Planning, HRDF Sign Memorandum of Cooperation on Human Capital and Labor Market

Riyadh, August 21, 2025, SPA -- The Ministry of Economy and Planning and the Human Resources Development Fund (HRDF) signed a memorandum of cooperation today, aiming to strengthen the partnership between the two sides in the areas of human capital development and supporting studies and research that empower the Saudi labor market.
The memorandum was signed on behalf of the Ministry of Economy and Planning by Deputy Minister for Labor Market and Human Capital Development Dr. Mansour Alrumayyan, and on behalf of HRDF by Executive Director of Transformation and Strategy Abdulaziz Alfaiz.
The memorandum focuses on identifying shared areas of interest, developing mechanisms for engaging potential stakeholders as needed, and cooperating in formulating and developing policies that enhance the roles of both parties at the local and international levels, as well as exploring opportunities to participate in relevant international events and forums.
It also includes the exchange of expertise and information regarding current and future initiatives and projects, and the exchange of data and reports related to human capital, serving the interests of both sides and enhancing role integration.
This step comes within the framework of supporting Saudi Vision 2030 objectives by enhancing human capital efficiency and developing the labor market in line with the Kingdom’s aspirations for a thriving economy and a vibrant society.
-- SPA