Saudi Gazette report

DAVOS — Amidst a backdrop of global economic and socio-political shifts, Saudi Arabia is set to make a significant appearance at the World Economic Forum (WEF) Annual Meeting 2024 in Davos.

Led by Minister of Foreign Affairs Prince Faisal Bin Farhan, the high-powered delegation will represent the Kingdom from Jan. 15-19, 2024, under the fitting theme of “Rebuilding Trust.”

The delegation boasts an impressive lineup, including Saudi Ambassador to the United States Princess Reema Bint Bandar, Minister of Commerce Dr. Majid Al Qasabi, and other key ministers.

Each member brings a wealth of experience and insights, aligning with the Kingdom's broader strategic goals.

At a time when the world faces a plethora of challenges — humanitarian, climate, social, and economic — the 54th World Economic Forum Annual Meeting emerges as a critical platform for global dialogue.

Saudi Arabia, within this context, is poised to play a vital role. The delegation plans to tackle these challenges head-on, advocating for global collaboration, economic resilience, sustainable resource security, and the potential of human-centric innovation.

A major focus for the Saudi delegation will be to showcase the remarkable strides made under Saudi Vision 2030.

This ambitious initiative has catalyzed transformation, diversification, and development across various sectors in the Kingdom.

From economic progress to burgeoning investment opportunities, the delegation will highlight how Saudi Arabia has become a thriving economic landscape.

The Kingdom’s increasing economic competitiveness will also be a central narrative.

The delegation is set to share experiences and best practices that have enhanced Saudi Arabia's allure as a destination for private and foreign investment.

This aspect is particularly crucial as the world navigates post-pandemic economic recovery and seeks sustainable growth pathways.

This participation follows a series of successful engagements by Saudi Arabia at the WEF.

In previous years, the Kingdom has not only signed key agreements and partnerships but has also been a frontrunner in areas like technology, environment, and industry.

Notably, the Kingdom's efforts in stabilizing energy markets and its progressive shift towards renewable energy have garnered global attention, reinforcing its role on the world stage.

The participation of Saudi entities in previous forums has been nothing short of groundbreaking.

For instance, Saudi Aramco’s Uthmaniyah gas plant was recognized as an “Industrial Lighthouse” in 2019, a testament to the Kingdom’s technological prowess.

Similarly, Saudi Basic Industries Corporation (SABIC) has been at the forefront, showcasing innovations in plastic recycling and circular economy.

The WEF has also been a platform for Saudi Arabia to forge significant partnerships.

The establishment of the Forum Center for the Fourth Industrial Revolution (C4IR) in the Kingdom is a prime example, highlighting Saudi Arabia's commitment to the future of energy, health, financial systems, and more.

Youth and innovation have been consistent themes in Saudi Arabia’s participation at Davos.

The "Misk Global Forum" and various initiatives by the Mohammed Bin Salman Foundation (Misk) have underscored the Kingdom’s focus on empowering young leaders and fostering a knowledge economy.

These efforts have not only showcased Saudi Arabia's cultural richness but have also opened doors for international collaboration in business, culture, technology, and media.

As the world converges in Davos for the 2024 meeting, Saudi Arabia stands ready to contribute its unique perspectives and solutions to global challenges.

With a delegation armed with experience, expertise, and a clear vision, the Kingdom is set to play a pivotal role in shaping the conversations around rebuilding trust in our global institutions and systems.

This participation, much like in previous years, is not just about representation; it’s about actively engaging and contributing to the global narrative, especially in crucial areas like climate change, economic resilience, and technological advancement.