Davos, January 22, 2025 – Faisal Alibrahim, Saudi Arabia's Minister of Economy and Planning, met with Carlos Torres Vila, Chairman of the Spanish multinational bank BBVA (Banco Bilbao Vizcaya Argentaria), and Onur Genç, the bank's Chief Executive Officer, on Tuesday during the 2025 annual meeting of the World Economic Forum (WEF) in Davos, Switzerland. The high-level meeting focused on exploring potential avenues for collaboration between Saudi Arabia and BBVA, with particular emphasis on aligning with the Kingdom's ambitious Vision 2030.
The discussions centered around how BBVA, as a global leader in financial services, could contribute to the realization of Saudi Arabia’s economic diversification and transformation goals. Both sides explored innovative approaches to financing services, identifying areas where the bank’s expertise in digital banking, sustainable finance, and investment could support the Kingdom’s ongoing initiatives. The meeting also touched upon the rapidly evolving landscape of global finance, emphasizing how international financial institutions can play a pivotal role in driving economic development and enhancing access to capital for strategic projects within Saudi Arabia.
Minister Alibrahim underscored the critical importance of fostering partnerships with leading global financial institutions as part of Saudi Arabia's broader strategy to modernize its economy, attract foreign investment, and promote innovation in key sectors. He highlighted that collaborations such as these are instrumental in supporting the Kingdom’s goals of building a diversified, knowledge-based economy that is less reliant on oil revenues and more focused on technology, infrastructure, and sustainable development.
BBVA’s leadership expressed keen interest in contributing to the Kingdom's Vision 2030 objectives, particularly in areas related to financial inclusion, green finance, and the development of new financial technologies. The bank’s global expertise in these fields is seen as highly complementary to Saudi Arabia’s own efforts to develop a modern and resilient financial ecosystem that can support long-term economic growth.
This meeting at the WEF exemplifies Saudi Arabia’s ongoing commitment to strengthening international partnerships with key players in the global financial sector. As the Kingdom continues to make significant strides in its economic transformation, engagements with institutions like BBVA are pivotal in ensuring that Saudi Arabia remains at the forefront of global economic innovation and sustainability.
By leveraging such collaborations, Saudi Arabia is poised to continue driving progress toward its Vision 2030 objectives, ultimately positioning the Kingdom as a leading player in the global economy with a diversified, future-ready financial landscape.