Riyadh Hosts the First Global Meeting of the World Economic Forum

For the first time in over half a century, the global economic community has taken a significant step by moving from Davos to Riyadh, where the Kingdom of Saudi Arabia hosts the first global meeting of the World Economic Forum under the patronage of Crown Prince Mohammed bin Salman. This event will see the gathering of more than a thousand world leaders including heads of state, leaders from the public and private sectors, international organizations, academic circles, and non-governmental organizations to address the most pressing global challenges.

The meeting comes just three days after the release of the annual report for Saudi Vision 2030 in its eighth year, coinciding with the anniversary of its launch on April 25, 2016. The report highlights the significant developmental achievements made by the Kingdom, with 87% of its initiatives completed or on the right track, and 81% of key performance indicators for programs meeting their annual targets.

This special meeting provides participants an opportunity to view the progress made in the Kingdom’s economic transformation strategy and the investment environment available to foreign investors.

The agenda of the meeting focuses on three main pillars: international cooperation to achieve prosperity and community development, support for inclusive growth, and building strong institutions capable of addressing economic challenges; diversifying trade and investment networks to stimulate economic recovery and ensure long-term sustainability; and achieving an optimal balance of global resources for a secure and sustainable future in the energy sector.

Saadia Zahidi, a manager at the World Economic Forum, announces on her LinkedIn account a focus on reviving comprehensive, innovative, sustainable, and resilient growth for everyone, noting that economic prospects are more promising compared to last year. However, she adds that the world still faces historically low levels of growth that threaten to undo decades of progress in reducing global inequality and extreme poverty.

Saudi Minister of Economy and Planning, Faisal Al Ibrahim, asserts that Riyadh has become a global capital for thought leadership, innovation, and sustainable development according to Vision 2030. The Minister looks forward to welcoming thought leaders and entrepreneurs to interact with the public on future-oriented topics.

Michele Michler, Head of Swiss Public Affairs and Sustainability at the Forum, emphasizes that Saudi participation in the open forum sessions contributes to showcasing diverse perspectives and enriching global dialogue to enable collective solutions for a more inclusive and sustainable future for everyone.