Saudi Minister of Finance and Chairman of the Board of Directors of the General Organization for Social Insurance (GOSI) Mohammed Al-Jadaan officially opened the Regional Social Security Forum for Asia and the Pacific 2024 in Riyadh on December 3, 2024. The three-day forum, hosted by GOSI and running until December 5, brings together social-security agency heads from across Asia and the Pacific, alongside global experts and decision-makers in insurance protection, to discuss updates and innovations in the field.
Context and Background
The forum marks a significant international gathering focused on social-security systems amid rapid global social and economic transformations. With participants from numerous countries, the event provides a platform for sharing expertise and addressing challenges facing insurance protection worldwide. Saudi Arabia, as host, showcases its leading experience in social insurance, highlighting the Kingdom’s commitment to regional cooperation and sustainable development.
Key Details
In his opening remarks, Minister Al-Jadaan emphasized the need for collaboration to overcome obstacles. “Today, we gather in the capital Riyadh to shape the future of insurance protection systems in our region and the world, aligned with the global economic growth trends,” he stated. He called for continuous review and update of social-security systems to meet the needs of current and future generations. International Social Security Association (ISSA) President Mohammed Azman noted that the forum is a significant milestone in enhancing regional cooperation in social security.
The first day included a dialogue session titled “Social transformation in the Kingdom: Implications on the social-security ecosystem,” attended by officials including Vice Minister of Human Resources and Social Development for Labor Abdullah Abuthnain. GOSI Governor Abdulaziz Hassan Alboug highlighted that social insurance is entering a new phase focused on creating greater value for beneficiaries, supporting financial stability, professional growth, and physical health. He noted achievements such as the unemployment insurance program (SANED), which supported over 400,000 employees during the COVID-19 pandemic with US$2.5 billion in aid, and that 4.7 million workers benefited from compulsory insurance documents and approximately 32 million people from healthcare coverage.
Implications
The forum’s discussions on sustainable insurance innovations and solutions have implications for social-security systems across Asia and the Pacific. By sharing Saudi Arabia’s experience, the event strengthens regional cooperation and helps develop a roadmap for comprehensive and sustainable social insurance systems, addressing challenges like demographic shifts and economic volatility.
Vision 2030 Alignment
This forum directly supports Saudi Vision 2030 by positioning Saudi Arabia as a hub for international dialogue and innovation in social protection. The Kingdom’s focus on improving quality of life, supporting financial stability, and building resilient social systems aligns with Vision 2030’s goals of a vibrant society and thriving economy. The event underscores Saudi leadership in fostering sustainable development and regional collaboration.
20 Questions
Q1. What is the Regional Social Security Forum for Asia and the Pacific 2024?
A1. It is a three-day event in Riyadh, running December 3-5, 2024, hosted by GOSI, bringing together social-security leaders and experts from Asia and the Pacific to discuss insurance protection innovations.
Q2. Who opened the forum?
A2. Saudi Minister of Finance and GOSI Chairman Mohammed Al-Jadaan officially opened the forum in Riyadh on December 3, 2024.
Q3. Which Saudi organization hosted the forum?
A3. The General Organization for Social Insurance (GOSI) hosted the forum, as announced by the Saudi Press Agency.
Q4. What was the main theme of the forum?
A4. The forum focused on updates, innovations, and challenges in global insurance protection systems, with emphasis on sustainable solutions and regional cooperation.
Q5. What did Minister Al-Jadaan say in his opening remarks?
A5. He said the gathering aims to shape the future of insurance protection systems aligned with global economic trends, and called for continuous review of social-security systems.
Q6. Who is Mohammed Azman?
A6. He is the President of the International Social Security Association (ISSA), who stated the forum is a milestone in enhancing regional cooperation in social security.
Q7. What was the first dialogue session about?
A7. It was titled “Social transformation in the Kingdom: Implications on the social-security ecosystem” and discussed Saudi Arabia’s social changes impacting social security.
Q8. Who participated in the first dialogue session?
A8. Officials including Vice Minister of Human Resources and Social Development for Labor Abdullah Abuthnain attended the session.
Q9. What did GOSI Governor Abdulaziz Hassan Alboug highlight?
A9. He emphasized a new phase of social insurance creating value for beneficiaries, supporting financial stability, professional growth, and physical health.
Q10. What is the SANED program?
A10. SANED is Saudi Arabia’s unemployment insurance program that supported over 400,000 employees with US$2.5 billion during the COVID-19 pandemic.
Q11. How many workers benefited from compulsory insurance in Saudi Arabia?
A11. Around 4.7 million workers benefited from compulsory insurance documents, as highlighted by GOSI Governor Abdulaziz Hassan Alboug.
Q12. How many people in Saudi Arabia have healthcare coverage?
A12. Approximately 32 million people in the Kingdom have benefited from healthcare coverage, according to GOSI officials.
Q13. What was the second dialogue session about?
A13. The second session discussed the “changing philosophy of social-security funds amid global challenges.”
Q14. Why is the forum important for Asia and the Pacific?
A14. It provides a platform for regional cooperation, sharing expertise, and developing innovative solutions for social insurance systems facing global challenges.
Q15. How does the forum align with Vision 2030?
A15. It supports Vision 2030 by positioning Saudi Arabia as a leader in social innovation, improving quality of life, and fostering sustainable development.
Q16. What is the role of ISSA in the forum?
A16. ISSA, represented by President Mohammed Azman, highlighted the forum as a key milestone for regional cooperation in social security.
Q17. How long does the forum last?
A17. The forum runs for three days, from December 3 to 5, 2024.
Q18. What type of participants attended the forum?
A18. Heads of social-security agencies, experts, and decision-makers from Asian and Pacific countries attended, along with global insurance protection specialists.
Q19. Did the forum discuss specific challenges?
A19. Yes, participants discussed obstacles like demographic changes and economic volatility, and explored sustainable innovations to address them.
Q20. What is the expected outcome of the forum?
A20. The forum aims to produce unified visions and a roadmap for developing comprehensive and sustainable social insurance systems for the region and world.
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