Business Wire

Saudi Arabia Is Creating a Global Model for Economic Resilience and Collaboration

Share

The rapid economic transformation of Saudi Arabia and its global role in bringing near-term stability while driving long-term transformation was the subject of a high-level panel on the third day of the World Economic Forum at Davos.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230118005940/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Saudi Arabia’s Transformation in a Changing Global Context panel at WEF2023 (Photo: AETOSWire)

The session, titled “Saudi Arabia’s Transformation in a Changing Global Context”, featured four speakers from the Kingdom who offered their insights on how Saudi’s strategic investments, geopolitical bridge-building and industrialization are transforming Saudi Arabia into a beacon of economic optimism amid gathering macroeconomic challenges.

Her Royal Highness Princess Reema bint Bandar Al Saud, Saudi Arabia’s Ambassador to the United States of America, underlined the importance of the Saudi-US relationship.

“We are strategic partners, and we've stood by each other where it counts and where it matters. That’s not just good for the United States of America or good for Saudi Arabia, it creates a more stable world,” she said.

His Excellency Mohammed bin Abdullah Al Jadaan, Saudi’s Minister of Finance, heralded the economic reforms ushered in by Saudi Vision 2030, in providing a pathway for the region.

“Because we invested heavily in technology, we were able to seamlessly move from ‘actual’ to ‘virtual’ in sectors such as health and education,” Al Jadaan said. “Also, we saw inflation coming earlier than many people. While inflation in the world was above 8 percent in 2022, ours averaged below 3 percent.”

His Excellency Abdullah bin Amer Alswaha, Saudi’s Minister of Communications and Information Technology, highlighted how the Kingdom is a reliable partner for closing global divides powered by talent and technology, explaining what the Kingdom has done to “connect the unconnected” with the Non-Terrestrial Network Program exploring how space can deliver the internet to the 2.7 billion people who don't have access.

“To scale these solutions, we have laid out a roadmap with what we call the three Cs: common frameworks, collective action, and collaborative tools. We believe the Kingdom can be a global force for integration and a partner of choice for bridging these divides,” he said.

For his part, His Excellency Bandar Alkhorayef, Saudi’s Minister of Industry and Mineral Resources, pointed to the investment in the nation’s industrial sector and the focus on new sources of national wealth.

“We are aiming to create an agile, competitive, and sustainable industrial economy. The sector is designed to fulfil local demand and ensure resilience, but export is also key. We are creating an ecosystem that is enabling the private sector to invest in the right technologies that allow our production facilities to produce beyond the global average,” Alkhorayef said.

The panel also included Kristalina Georgieva, Managing Director of the International Monetary Fund, and Jane Fraser, CEO of Citi.

Georgieva said: “When I visited Saudi Arabia, I was incredibly impressed by the progress that the country has made in implementing Vision 2030 and becoming a bright spot for the world economy.”

*Source: AETOSWire

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

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.

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

Gallagher Re Joins ABIR and EY as 2023 Bermuda Risk Summit Headline Sponsors3.2.2023 18:17:00 EET | Press release

The Bermuda Business Development Agency (BDA) is pleased to announce that Gallagher Re has joined the Association of Bermuda Insurers and Reinsurers (ABIR) and EY as headline sponsors of the second annual Bermuda Risk Summit. Adam Schwebach, Executive Vice President, Gallagher Re, said, “Gallagher Re is proud to support the second Bermuda Risk Summit, an annual event that showcases the breadth and versatility of Bermuda’s globally significant risk market. This event serves as a timely opportunity to connect with industry leaders ahead of midyear renewals and we applaud the BDA for their efforts in making the Bermuda Risk Summit a success.” David Hart, BDA CEO, said, “We are just so excited to welcome Gallagher Re as our third and final headline sponsor, along with ABIR and EY. The theme of the 2023 Bermuda Risk Summit, being held from March 6-8, 2023, at the Hamilton Princess & Beach Club is ‘Innovation, Sustainability and Collaboration. We anticipate an even stronger attendance level

Workato Named a Leader in the 2023 Gartner® Magic Quadrant™ for iPaaS3.2.2023 18:15:00 EET | Press release

Workato, the leading enterprise automation and integration platform, announced today that it has again been recognised as a Leader in the 2023 Gartner® Magic Quadrant™ for Integration Platform as a Service. Workato has been named a Leader all five years it has participated in the Gartner® Magic Quadrant™ for iPaaS. The report evaluated 16 total software vendors and placed Workato in the Leaders quadrant for its ability to execute, and completeness of vision. For us, Workato’s position within the Leaders quadrant signals one of the best positionings of a modern iPaaS to date. The Workato platform enables enterprises to automate their business processes across the entire organization by integrating their applications, data, and experiences. Designed with best-in-class security and governance, scalability, performance, and availability, Workato’s low-code, no-code platform makes it easy for IT and business teams to integrate their applications and automate their processes, drawing from th

Suzano Eucafluff to Attend INDEX and CIDPEX in 20233.2.2023 16:58:00 EET | Press release

Suzano, the world’s largest hardwood pulp producer, will showcase its highly sustainable and innovative eucalyptus-based fluff pulp, Eucafluff®, at this year’s INDEX and CIDEPX conferences in Geneva and Nanjing, for the second consecutive year. These two conferences gather the pulp industry’s leading participants in nonwoven materials comprising decision-makers, managers, and technical personnel. Suzano will be presenting significant advancements in Eucafluff’s product application and performance. INDEX is one of the world’s largest nonwovens exhibitions exploring the industry’s latest trends and innovations. The event takes place on 18-21 April 2023 in Geneva, Switzerland. CIDPEX – The China International Disposable Paper Expo - is another important event for Suzano which stages the latest advancements across the tissue paper and disposable hygiene products sector. The event takes place on 12-16 May 2023 in Nanjing, China. Eucafluff® is made from sustainably managed eucalyptus farms i

Uptime Institute Completes Acquisition of CNet Training, the International Award-Winning Technical Education Company3.2.2023 16:01:00 EET | Press release

Uptime Institute, the Global Digital Infrastructure Authority, a Dominus Capital, L.P. portfolio company, announced today that it has completed its acquisition of Academia Group Limited and all of its global subsidiaries including CNet Training, Ltd. CNet Training, located in Bury Saint Edmunds, Suffolk, England, is an International award-winning technical education company. CNet Training has been designing and delivering professional network and data center infrastructure training programs since 1996 and has trained over 83,000 data center professionals across 45 countries. “The data center industry is one of the fastest growing markets in the world. The continued, extraordinary industry expansion requires a growing and diverse workforce, however concerns over the industry’s ability to attract, educate, and retain skilled technical staff persist. This acquisition will help our respective customers thrive in a rapidly changing ecosystem, by giving them access to a range of world class

Dexlevo’s GOURI Symposium and Brand Event at IMCAS 20233.2.2023 11:15:00 EET | Press release

Dexlevo, a company specializing in aesthetic medical devices, successfully held a symposium dedicated to its exclusive product, ‘GOURI’, at the IMCAS World Congress 2023 in Paris. IMCAS (International Master Course on Aging Science), held from Jan 26th to Jan 28th in Paris, France, is one of the world's three major aesthetics anti-aging societies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230202005935/en/ GOURI Booth at IMCAS Paris 2023 (Photo: Business Wire) Over 200 doctors and companies who visited Dexlevo's booth showed great interest in GOURI – a unique injectable that provides a fundamental solution to anti-aging. GOURI symposium titled “Universal Anti-Aging Treatment” was conducted by an Australian dermatologist Dr. Paul Han, who apart from giving a lecture also demonstrated a new GOURI treatment protocol which lately has gained increasing popularity among doctors who use GOURI. Dr. Paul commented, “While keeping

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