D. Abdul Hafeez Abdul Rahim Mehboob
Saudi Arabia has become a global platform for international discussions by creating opportunities and developing global responsibility to meet global challenges. It is no secret that the energy issue is one of the most prominent topics that has occupied more than one session since the first day of the Forum, as the process of transition towards green energy faces many challenges.
The Global Economic Community will move from Davos to Riyadh on April 28 and 29, 2024, when geopolitical turmoil and complex economic challenges are destabilizing a divided world, so it aims to support global dialogue and find common global solutions. challenges, as it will work according to a purposeful agenda to enhance prudent approaches in dealing with crises.
The meeting came 3 days after the release of the annual report of the Kingdom’s vision in its eighth year and on the anniversary of its launch on April 25, 2016, which highlighted the development achievements made by Saudi Arabia at all levels throughout its journey. , Saudi Arabia achieved its goals at a rapid pace, as 87 percent of its initiatives have been completed or are on track, while 81 percent of the programs’ key performance indicators have achieved their annual targets. Saudi Vision Train 2030 approaching the station.
The World Bank normalized Saudi Arabia’s reform experience to enhance the countries’ competitive capabilities, not only that, after the Saudi was declared non-essential by the IMF, the International Monetary Fund asked Riyadh to strengthen partnerships with Middle Eastern countries. Is starting its regional office in. The oil sector is as strong as it is, and it will remain so for a long time, with the overall economy expected to register rapid growth through the year 2025 despite scheduled oil production cuts through the OPEC+ alliance this year through 2024. The director of the Middle East and Central Asia department at the Fund acknowledged that the impact of regional tensions in the Gulf countries is very minor, and almost non-existent. We welcome the Gulf States’ vision for regional security that was recently announced.
Therefore, the meeting will be an opportunity for participants to learn about the progress made in the economic transformation strategy and the business environment available for foreign investment, which has led Saudi Arabia to mobilize funds and trade, which has enabled Saudi Arabia to employ technology for development. Recommended. global economy, and at the conclusion of the forum it was announced to join an international alliance for artificial intelligence, especially since the fourth industrial revolution will create billions of dollars of opportunities for Saudi Arabia, as Saudi Arabia will reach the 2023 Communications and Technology Development Index. Is in second place. An agreement between Saudi Arabia and the G20, the economic forum to establish a first-of-its-kind center for the communications market size reaching $44 billion and the future of space.
Saudi Arabia organizes summits and conferences for international cooperation for sustainable development, and it encourages international cooperation to build a more prosperous world, especially since many have ambitions to increase economic integration in Saudi Arabia and the Gulf region. Are, and the world supports this trend. Accelerated integration, and Saudi Arabia will see another shift to diversification, Saudi Arabia needs stronger openness to local and global competition to ensure that its industries develop efficiently and as quickly as possible to achieve sustainable economic growth Can. Benefiting from investment strategies that enhance the flexible economy in developing competitiveness, Saudi Arabia will be at a crossroads to transform the global economy, especially since there is a Chinese penchant for the Saudi Arabian Belt and Road and Indian Green Corridors clean energy and Increase cooperation with Saudi Arabia in new industrial technology, especially as cost is the biggest challenge facing clean energy, as the headwinds of green energy make abandoning fossil fuels a mere myth.
The patronage by the Crown Prince and Prime Minister, Prince Mohammed bin Salman, of the World Economic Forum in Riyadh, the first outside Davos, was an affirmation of Saudi Arabia’s role and its continued effort to enhance joint action and global economic growth in the post-Saudi Arabia region. Arabs became an economic beacon and a global platform for thought, innovation and solution leadership to enhance international cooperation efforts and encourage joint efforts to create lasting solutions to the issues facing them (International Organization for Development Cooperation) slogan given by the international community.