KUALA LUMPUR, Jan 27 (Bernama) -- Saudi Arabia's delegation to the World Economic Forum (WEF) Annual Meeting has unveiled its strategic approach for rewriting the economic playbook during several key sessions, emphasising the Kingdom’s progress under Vision 2030.
Minister of Economy and Planning, Faisal F. Alibrahim discussed how transformation itself is an engine of growth for Saudi Arabia, despite global economic challenges.
“Despite the tepid twenties, the Kingdom has been able to fire up new engines of growth and keep moving forward,” he said in a statement.
In the session titled ‘Saudi Arabia’s Economic Shifts’, Minister of Finance, Mohammed A. Aljadaan emphasised the nation’s unified commitment to Saudi Vision 2030.
He highlighted the long-term leadership vision driving the Kingdom’s transformation, stating that the people, business community, and government are all aligned in their efforts to make difficult decisions and ensure consistent progress.
Meanwhile, Minister of Communications and Information Technology, Abdullah A. Alswaha, speaking in ‘The Road Ahead for Scaling AI’ session, underlined Saudi Arabia’s efforts to harness its strengths for global progress in artificial intelligence (AI).
In the ‘Next-Gen Industrial Infrastructure’ session, Minister of Industry and Mineral Resources, Bandar I. Alkhorayef stressed the importance of technology in diversifying the economy, with Saudi Arabia prioritising digital infrastructure and connectivity to enable manufacturing as a key sector for growth.
The Royal Commission for Jubail and Yanbu (RCJY) announced that Jubail Industrial City is now the first city in the region to join WEF’s Transitioning Industrial Clusters to Sustainable Development initiative. This global programme, launched with Accenture and the Electric Power Research Institute (EPRI), aims to accelerate industrial decarbonisation.
Additionally, the Research, Development, and Innovation Authority has released a special report on the ‘Saudi Arabia’s Markets of Tomorrow Accelerator’. The initiative, developed in collaboration with WEF’s Accelerator Network, outlines the initiative’s efforts to drive economic transformation by promoting entrepreneurship and innovation in key emerging markets in alignment with Saudi Vision 2030.
-- BERNAMA
