WEF25: Saudi Arabia “Rewriting the Economic Playbook”
24.1.2025 12:00:00 EET | Business Wire | Press release
Saudi Arabia’s delegation to the World Economic Forum (WEF) Annual Meeting today shared its strategy for rewriting the economic playbook during several key sessions, including one led by the Kingdom on its economic transformation.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250124094652/en/
His Excellency Faisal F. Alibrahim, Minister of Economy and Planning (Photo: AETOSWire)
In the session titled ‘Saudi Arabia’s Economic Shifts’, His Excellency Mohammed A. Aljadaan, Minister of Finance, described the main forces driving the Kingdom’s transformation: “The whole nation has been mobilized behind Saudi Vision 2030. There’s a very clear vision that the people, the business community, and the government are all driving towards. We have a leadership that takes a long-term view, prepared to make tough decisions, and to be consistent.”
Earlier, in ‘The Road Ahead for Scaling AI’, His Excellency Abdullah A. Alswaha, Minister of Communications and Information Technology, outlined the Kingdom’s efforts to foster global dialogue to drive inclusive progress. He said: “The Kingdom today, in Davos, is working with like-minded partners, innovators and policymakers to see how we can leverage our competitive advantage and our position to serve humanity and fuel the AI economy in this age.”
His Excellency Bandar I. Alkhorayef, Minister of Industry and Mineral Resources, participated in the session ‘Next-Gen Industrial Infrastructure’. He said: “Today what we are doing in Saudi Arabia, in terms of our aspiration to diversify our economy, can be enabled with technology. Through the efforts of the government today, it is very clear we are prioritizing digital infrastructure and connectivity. We believe manufacturing is an important sector for growing the economy and we are committed to building the technologies that will shape its future.”
His Excellency Faisal F. Alibrahim, Minister of Economy and Planning: “We’re all seeking engines of growth. The Kingdom’s story is an example of how transformation is an engine of growth. Despite the tepid twenties, the Kingdom has been able to fire up new engines of growth and keep moving forward.”
The Royal Commission for Jubail and Yanbu (RCJY) announced that Jubail Industrial City has become the first city in the region to join WEF’s Transitioning Industrial Clusters to Sustainable Development initiative. Launched by WEF at Davos 2025 in collaboration with Accenture and the Electric Power Research Institute (EPRI), the initiative aims to accelerate the decarbonization of industrial clusters.
The Research, Development, and Innovation Authority has published a special report on the “Saudi Arabia’s Markets of Tomorrow Accelerator”. An initiative launched in collaboration with WEF’s Accelerator Network. The report highlights the initiative’s efforts to drive economic transformation through innovative, entrepreneurship-focused solutions, while outlining its vision for fostering the growth of key emerging markets in the Kingdom. It also explores how the initiative is tackling challenges and accelerating development to align with the goals of Saudi Vision 2030.
Source: AETOSWire
View source version on businesswire.com: https://www.businesswire.com/news/home/20250124094652/en/
Contacts
Wooud Alquaied
walquaied@mep.gov.sa
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
www.businesswire.com
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
83% of Chinese Consumers Use Quick Commerce, Offering a Glimpse into Grocery's Future27.8.2026 13:30:00 EEST | Press release
The next major shift in retail may not be happening on shelves. It is happening in the everyday grocery basket, where speed, convenience and top-up missions are reshaping how consumers buy. Quick commerce is emerging as a core engine of grocery growth, according to NIQ (NYSE: NIQ), a leading consumer intelligence company. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260824560517/en/ Asia is leading the quick commerce revolution, with adoption rates of 83% in China and 82% in India. NIQ's global report, The Commerce Revolution: Where East Meets West, finds that ultra-fast delivery is already mainstream across parts of Asia, offering a preview of how commerce is likely to evolve globally. The clearest signs of this shift can be seen in China and India, where quick commerce adoption has reached 83% and 82%, respectively, far exceeding the global average of 48%. By comparison, adoption stands at 34% in Europe and just 3% in No
74% of Shoppers Use AI for Discovery—NIQ Showcases What That Means for the Consumer Purchase Journey in New Report27.8.2026 13:00:00 EEST | Press release
Consumers are increasingly turning to new technologies to help navigate a more complex shopping landscape. Nearly three-quarters of shoppers now use AI for product discovery, while retail media has grown into a $184 billion global market. Together, these shifts are reshaping how products are discovered, evaluated, and ultimately purchased. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260827177247/en/ AI is becoming the new gatekeeper of product discovery. NIQ has released A Tale of Two Consumers: The Polarized Mindsets Reshaping Global Consumption, a new global report in collaboration with World Data Lab showing how artificial intelligence, retail media networks, and social commerce are transforming the path to purchase and influencing which products consumers ultimately buy. The findings build on NIQ's recently released The Commerce Revolution: Where East Meets West, which identified the convergence of Eastern commerce in
Ant International Joins Hong Kong Regulators’ GenA.I. Sandbox++ to Advance Bank Liquidity Management with AI27.8.2026 13:00:00 EEST | Press release
Ant International’s Ant Bank, a digital bank based in Hong Kong, and Bettr, its inclusive embedded financial solutions provider, have been selected to participate in Hong Kong regulators’ GenA.I. Sandbox++, focusing on the liquidity risk management track. Ant Bank will leverage Ant International's Falcon Time-Series Transformer (TST) AI Model 2.0 to enhance its FX and liquidity management capabilities. The partnership will deploy granular, statistically-grounded daily forecasts, to support more precise and proactive liquidity planning for the bank's real-time treasury management — strengthening its capabilities to support a 24/7 financial ecosystem. As Hong Kong's only digital bank deeply integrated with an e-wallet, Ant Bank aims to leverage technology to provide innovative, inclusive and customer-centric digital financial services. To enhance customer experience, the bank sought to integrate AI and LLM technology to improve the accuracy of its cashflow predictions — reflecting its cu
Ant International’s R2 Enters Brazil, Bringing Embedded Credit Technology to Serve SMBs and Gig Workers27.8.2026 12:00:00 EEST | Press release
R2 today announced its expansion into Brazil, marking the company's entry into Latin America's largest economy. With the support of Ant International, a leading global digital payment, digitisation and FinAI solutions provider, R2 will partner with digital platforms across Brazil to embed working capital solutions directly into the products their merchants and gig workers already use. For digital platforms, marketplaces, payment providers, ecommerce companies, and others serving SMBs and gig workers, R2 provides a proven embedded credit technology solution that enables them to offer financing to their users without building credit operations themselves, and without taking on credit risk. The result is a new revenue stream and a stronger value proposition for their merchant base. For the businesses and workers those platforms serve, it means access to working capital based on how they actually perform, not on documentation that most of them don't have. "Brazil is a defining milestone in
Samsung Display Elevates Gaming Immersion with QD-OLED at Gamescom 202627.8.2026 11:30:00 EEST | Press release
Samsung Display will showcase the gaming performance advantages of QD-OLED through collaborations with global game companies at gamescom 2026, the world’s largest gaming exhibition. The company also announced plans to begin mass production of 24.5-inch QD-OLED panels optimized for eSports and FPS games by the end of this year, underscoring its technology leadership in the gaming monitor market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260827640374/en/ Visitors experiencing PRAGMATA on gaming monitors featuring Samsung Display’s QD-OLED at the CAPCOM booth during gamescom 2026 Highly anticipated titles from CAPCOM, KRAFTON and CD PROJEKT RED take the stage at gamescom with QD-OLED displays Samsung Display announced on August 27 that it will partner with global game companies including CAPCOM, KRAFTON, and CD PROJEKT RED at gamescom 2026, taking place in Cologne, Germany, from August 26 to 30. New and flagship titles fro
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom