JEDDAH: Saudi Arabia’s Public Investment Fund launched a strategic program designed to build skills, address labor market needs, and support economic diversification to boost national talent.
The “azm” workforce development program was unveiled at a signing ceremony attended by Education Minister Yousef Al-Benyan and PIF Governor Yasir Al-Rumayyan, alongside partners from the Technical and Vocational Training Corp., Colleges of Excellence, Human Resources Development Fund, and Roshn Group.
The launch underscores PIF’s role in advancing Vision 2030, Saudi Arabia’s plan to transition to a knowledge-based economy and reduce reliance on oil revenues.
In a post on its official X account, PIF said it launched “the ‘azm’ program to empower national talents and equip them with the expertise and skills required by the labor market, thereby contributing to building a stronger and more diverse national economy, through a signing ceremony that included the program’s partners.”
According to the sovereign wealth fund, azm aims to create a pipeline of technically skilled Saudis to meet the needs of PIF’s investments, portfolio companies, and ecosystem partners. It focuses on employer-driven skill development, with 80 percent of training based on hands-on, real-world applications.
