The Bahrain Economic Development Board (EDB) has entered a new strategic partnership with the World Economic Forum (WEF) to launch a new innovative accelerator.
The objective behind this new initiative is to prepare the current and next-generation workforces to upgrade their employability in the rapidly evolving global job market. Both entities announced the move on the sidelines of the 50th WEF annual meeting at Davos.
Dubbed the “Closing the Skills Gap Accelerator,” the EDB’s new initiative is just one of several similar accelerators launched in collaboration with the WEF’s Platform for Shaping the Future of the New Economy and Society.
Other countries to have launched similar initiatives include India, Oman, Argentina, Pakistan, UAE, and South Africa. The WEF’s roadmap is to replicate the Closing the Skills Gap Accelerator model across 15 leading economies by the end of 2020.
As for Bahrain, the EDB is anticipating around 8,000 new workers to enter the job market every year. The responsibility of accommodating this fast-growing workforce lies primarily on the private sector — especially sectors such as Startups, Healthcare, Financial Services, Manufacturing, Logistics, Oil & Gas, Renewables, and ICT.
Speaking on the potential of the new collaboration with the WEF, Khalid Humaidan, Chief Executive, Bahrain EDB, said: “[….] as disruptive technologies change the way we work, live and interact, skills gaps are emerging which must be filled to prepare for the future”.
He added: “Bahrain benefits from a young and growing population, and by equipping the next generation with the right skills we can build truly sustainable development. WEF Davos 2020 presents the ideal forum for the public and private sectors to work in close collaboration as we seek to solve the challenges of tomorrow.”