RIYADH: Saudi Vision 2030 has significantly transformed women's lives in the Kingdom, as regulatory reforms enable females to pursue more opportunities in both the public and private sectors, according to Riyadh's ambassador to the US.

Speaking at a panel discussion during the inaugural HERizon Summit, held alongside the eighth Future Investment Initiative, Princess Reema bint Bandar emphasized the need for the right policies to accelerate women's progress in business and entrepreneurship.

The event, themed 'Invest in Women,' aims to bridge the gender gap and empower females to become a powerful force in the global workforce.

A recent World Bank report confirmed Saudi Arabia's strides in achieving gender parity, noting that female labor participation rose from 22 percent in 2016 to 34 percent by the end of 2023.

"The Kingdom's advancements since Vision 2030 are remarkable. The most significant changes have been in the regulatory frameworks and laws that have been enacted, which not only pushed the government towards greater inclusion of women but also provided a framework for the private sector to fulfill its responsibilities," said Princess Reema.

She added: "When discussing the accelerators for women's inclusion, more policies and investments are necessary. It's not just about having a policy on paper; it's about implementation, follow-through, and creating an environment where women understand their resource needs."

The ambassador believes that mentorship, internships, and investments in training and education can help Saudi women explore unique job opportunities in emerging sectors.

"Our women need exposure to level up. The more we engage with women and men from other countries, the more these Saudi women will be equipped to work anywhere in the world. That's our goal," Princess Reema noted.

She also stressed the importance of placing the right women in the right roles to fully utilize their expertise and achieve optimal results.

"I would take the time to hire 'the' right woman, not just 'a woman'. 'The' woman you're looking for does exist; you just need to find her," she said.

She continued: "The women in the Kingdom of Saudi Arabia are not just tokens or boxes to tick. We are dedicated to development, not just for our country, but for families, nations, and our community."

During the opening ceremony, Richard Attias, CEO of FII Institute, highlighted that the first HERizon Summit is dedicated to showcasing the limitless potential of women worldwide.

He added that the event aims to discuss transforming women's lives and igniting change.

"We must recognize that the past has not been easy for women, where many voices remained unheard. Today, we aim to break down those barriers. We envision a world where opportunities are boundless and equal for all. This is a movement towards inclusion, innovation, and unity," said Attias.

He further stated that the summit will work to ensure women have equal opportunities as men in all sectors, breaking down borders and allowing females to reach their highest potential.

"We believe that when women rise, a nation prospers. When women lead, society transforms, and when women's voices are amplified, our shared future becomes brighter and stronger. We believe in that," the FII CEO added.

In the panel discussion, Cecilia Attias, founder and president of the Cecilia Attias Foundation for Women, suggested that specific quotas for women on company boards could ensure gender parity.

"I'm surprised we still have a panel for women. We should be part of all panels. We are in the 21st century; we should have the same opportunities as men," Cecilia remarked.

Jenny Johnson, president and CEO of Franklin Templeton, noted that women are more skilled than men in managing venture capital funds, despite receiving less support.

"In the US, less than 2 percent of venture capital goes to women entrepreneurs, yet they generate twice the returns of average venture capital funds," Johnson said.

Source link:   https://www.arabnews.com