Following the success of the first Labour Fund Strategy Consultation Forum, the second one aims to share the vision of Labour Fund opening today at Gulf Hotel. Public and private sector representatives will deliberate on how to adopt a common ground for confronting challenges facing the labour sector as perceived by some of the Kingdom’s public and private-sector key decision-makers and hands-on practitioners.
The fund’s main objectives are to support Bahrainis to become employees of choice and to support high-quality private sector job creation, helping the private sector cope with the impact of labour market reforms. Dr Baharna said: “We are resolute in seeking to initiate a radical sweeping change in the market via the labour-market reform project.
“This will enable the private sector to navigate the Kingdom towards economic growth, improving the competency of citizens, thereby making them employees of choice. The labour fund continues to consult and work closely with its various stakeholders to fashion fresh and innovative approaches. Our success is heavily dependant upon the co-operation of our partners. Hence our slogan: ‘Partners in prosperity’. The roundtable seminar is part of a series of events which the Labour Fund will continue to hold with stakeholders concerned.”
Labour-market issues need immediate attention in order to propel the Kingdom’s national economy towards greater prosperity.
Based on discussions and recommendations, according to previous forum findings, the Labour Fund has strategically formulated 14 proactive initiatives to improve the labour market situation. These will be presented during the forum along with the fund’s logo and corporate identity.
The forum will conclude with a session for participants to review and comment on initiatives put forth. Findings will be integrated by the Labour Fund for enhancement of the strategic plan and initiatives.
The strategy of the Labour Fund is to focus on enhancing the standard of living for the Bahraini citizen by means of their placement in value-added jobs in the private sector and in select economic sectors. The strategy has investigated three driving forces in labour market dynamics, human capital, the economy and the status quo of the private sector (active organisations) and labour market policies.
“The Labour Fund programmes have been designed to enable Bahrainis within the right skills set and qualifications to be in value-added jobs, strengthening the structural building block of the private-sector organisation to ensure a robust supply of value-added jobs and suggesting policies to enhance the general environment of the labour market.” The fund would focus its mid-term plans on economic sectors selected based on gross domestic product contribution, labour force intensity; sustainability and acceptance.
These are manufacturing, health care, transport, trade and information-communication technology. Abdulelah Al Qassimi said: “The Labour Fund will also be in charge of facilitating the citizens’ acquisition of loans and financing the economic value-added projects. Furthermore, the fund will offer employers financial and consultancy services and programmes, supporting research carried out in the labour market field.
