Davos, January 21, 2024, A prominent delegation from the Kingdom of Saudi Arabia has successfully concluded its participation in the World Economic Forum (WEF) Annual Meeting 2024, capping off the event with the announcement that Riyadh is set to host a WEF Special Meeting on global cooperation, growth, and energy from April 28 to 29, 2024.
Led by His Highness Prince Faisal bin Farhan bin Abdullah, the Minister of Foreign Affairs, the Saudi delegation engaged in vital dialogues, bilateral and multilateral meetings during the January 15-19 event. The objective was to formulate solutions to global challenges and lay the groundwork for a more interconnected, resilient, and flourishing future.
Among the distinguished members of the delegation were Her Royal Highness Princess Reema bint Bandar AlSaud, Ambassador of the Custodian of the Two Holy Mosques to the United States of America, and other key ministers such as Dr. Majid A. Alkassabi, Minister of Commerce; Adel A. Aljubeir, Minister of State for Foreign Affairs; Khalid A. Al Falih, Minister of Investment; Mohammed A. Aljadaan, Minister of Finance; Abdullah A. Alswaha, Minister of Communications and Information Technology; Bandar I. Alkhorayef, Minister of Industry and Mineral Resources; and Faisal F. Alibrahim, Minister of Economy and Planning.
The delegation actively participated in noteworthy sessions, including discussions on 'Securing an Insecure World,' 'Frictionless Services,' 'Gulf Economies: All In,' 'Regulating Non-Banks,' 'Bold Steps for a Sustainable MENA,' 'Resilience: What It Means and What to Do About It,' 'Supply Chains of the Future,' 'Investors of First Resort: Government Inc.,' 'The Future of Banking and Technology in Saudi Arabia: What it Means for Investors,' 'MENA’s Economic Dilemma: Reforms Amid Uncertainty,' and a special WEF panel session on 'Saudi Arabia: The Course Ahead,' which emphasized the Kingdom’s role in fostering peace, security, and prosperity in the Middle East.
The Saudi delegation also inaugurated the Saudi House: Bold Visions Series, bringing together change-makers, policymakers, and innovators to discuss solutions across key areas of economic development, including the blue economy, tourism, and technology investments.
The forthcoming WEF Special Meeting in Riyadh is a significant outcome of a landmark agreement between Saudi Arabia and the Forum. It is expected to convene over 700 global leaders from the public and private sectors, international organizations, NGOs, academia, and civil society to facilitate dialogues between nations, contributing to the revival of international cooperation.
During the event, on January 18th, the Kingdom inked two agreements with WEF’s innovation platform UpLink, aiming to catalyze innovative global solutions for pressing environmental and sustainability challenges. These agreements focus on fostering innovation ecosystems around early-stage impact entrepreneurs, stimulating investments, and supporting breakthrough solutions addressing critical sustainable development challenges, including ocean degradation, biodiversity loss, and the circular carbon economy.
Additionally, a Memorandum of Understanding (MOU) was signed to enhance cooperation between the Kingdom of Saudi Arabia and the Organisation for Economic Co-operation and Development (OECD), with a focus on various public policy initiatives related to the economy, corporate governance, and sustainability.
