From Davos to Riyadh: Saudi Arabia Leads Global Progress at World Economic Forum.

Aleqtsad..Riyadh

Kingdom of Saudi Arabia, during its participation in the annual meetings of the World Economic Forum (WEF) in Davos, Switzerland, has embarked on a journey marked by numerous achievements, agreements, partnerships, and initiatives, whether in economy, technology, environment, society or industry.
The Kingdom’s efforts to support regional and international stability, especially in the stability of energy markets, and to enhance the balance between the interests of energy-producing and consuming countries, play an effective role during its presence at international forums, as its voice is the main driver in supporting international efforts to maintain a balance in the stability of the energy sector.
It also seeks global leadership in the production of clean energy through the framework of the circular carbon economy amid the global shift toward sustainability.
In 2018, the Kingdom participated in the 48th annual meeting of the WEF, held under the theme “Creating a Shared Future in a Fractured World,” with a high-level delegation, and the King Khalid Foundation was able to join as an affiliate partner of the forum for its pioneering contributions to non-profit organizations.
In 2019, during the annual meeting, Saudi Aramco’s Uthmaniyah Gas Plant (UGP) was recognized by the WEF as a “Lighthouse” manufacturing facility, a leader in technology applications of the Fourth Industrial Revolution. This recognition confirms the success and technical leadership of Saudi Aramco, the first company in the world in the oil and natural gas sector to join the list and the first in the Middle East to be recognized by the WEF.
As part of the forum’s 2019 annual meeting, a memorandum of understanding was signed between Saudi Arabia and the WEF to establish a Center for the Fourth Industrial Revolution (C4IR) in Saudi Arabia, focusing on public-private partnerships and major initiatives in energy, health, and financial systems.
The C4IR is the fifth in the world and seeks to be a global research and implementation organization for the Fourth Industrial Revolution. It also provides training opportunities for Saudi competencies to prepare a generation of leaders in the field of the Fourth Industrial Revolution through qualification and training and designing fellowship programs.
In 2020, SABIC demonstrated leadership by launching the TRUCIRCLE™️ plastics recycling initiative at the forum, promoting the circular economy with innovative recycling solutions.
The WEF also announced the inclusion of the Khurais oil complex on the Global Lighthouse Network, making it the second facility affiliated with Saudi Aramco to join this list.
In 2022, Saudi Arabia’s high-level delegation addressed global challenges at the forum, themed “History at a Turning Point: Government Policies and Business Strategies.” Presentations included the Kingdom’s achievements in economic diversification, social empowerment, and COVID-19 pandemic recovery, alongside initiatives like the Middle East Green Initiative.
Saudi Vision 2030 was a focal point during the Kingdom’s 2022 participation; it focuses on enhancing the capabilities of cadres and talents and supporting the adoption of smart solutions based on advanced technology and 4IR solutions. The delegation also highlighted the Vision’s view of the security of resources and basic commodities and its pivotal role in ensuring the security and stability of energy markets.
In 2023, Saudi Arabia hosted a dialogue session on sustainable urban development, emphasizing the need for innovation and environmentally friendly technology.
The Kingdom’s participation in the 2023 meeting in Davos aligned with its commitment to making the world more interconnected, achieving stability, and bringing viewpoints closer. The National Competitiveness Center and the WEF signed a cooperation agreement to facilitate and develop trade in services in the Kingdom and raise its competitiveness in global markets.
At the 2024 World Economic Forum, under the theme “Rebuilding Trust,” the Kingdom’s delegation, led by Foreign Minister Prince Faisal bin Farhan bin Abdullah, discussed innovative solutions for current global challenges with over 2,800 world leaders. Topics included security, sustainable economic recovery, and the societal impacts of emerging technologies.
The Saudi delegation highlighted the progress achieved under Saudi Vision 2030, the transformation and development process witnessed by the Kingdom in various fields, and the investment opportunities available in many sectors to reach a prosperous and diversified economy open to opportunities for joint cooperation.
The Royal Commission for AlUla (RCU), the Mohammed bin Salman Foundation (Misk), and the Saudi Data and AI Authority (SDAIA) participated prominently at the forum as part of the Saudi delegation.
The RCU pavilion showcased various national trends and the plans, programs, and initiatives in AlUla. It also highlighted various national plans that are consistent with Saudi Vision 2030, which aims to have a prosperous economy while taking into account the various economic developments within the Kingdom and the transformation and development process.
Misk launched “Youth Majlis,” creating a dialogue platform for young leaders to address global challenges effectively.
SDAIA showcased its initiatives in smart cities at the forum and presented innovative digital government solutions aimed at enhancing efficiency and inter-agency collaboration.
In April 2024, Riyadh hosted the WEF Special Meeting under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, attracting over 1,000 participants from various sectors to discuss sustainable development solutions.
HRH the Crown Prince engaged in a dialogue session attended by prominent figures from the public and private sectors, academia, and international organizations. It addressed pressing geopolitical and economic challenges facing the world today, and underscored the Kingdom’s commitment to enhancing international cooperation and its role as an engine for growth within the Middle East region, recognizing its position as a cornerstone of the global trade system.
The special meeting encompassed an open forum event, jointly organized by the Ministry of Economy and Planning and the WEF. The event featured dialogue sessions with the participation of both local and international speakers.
On the sidelines of the special meeting, the Ministry of Economy and Planning organized the “Saudi House” initiative, sponsored by Saudi Aramco and aimed to foster enhanced cooperation and partnerships across various sectors through five interactive pavilions dedicated to sustainability, innovation, youth, energy, and mega projects.
Several agreements were forged during the meeting, including collaborations with the Bill & Melinda Gates Foundation to tackle public health and poverty issues, and initiatives aimed at boosting sustainability among private-sector companies.
Saudi Arabia’s ongoing collaboration with the World Economic Forum highlights its dedication to shaping a sustainable future and enhancing international cooperation to address global challenges effectively.