Saudi Crown Prince leads Special Dialogue at WEF special meeting in Riyadh

Saudi Arabia’s Crown Prince Mohammed bin Salman led a Special Dialogue session at the World Economic Forum special meeting in Riyadh on Sunday where prominent figures from different industries discussed challenges and plans, the official Saudi Press Agency (SPA) reported on Monday.

The session, attended by global leaders from government, business and academia, focused on discussing current geopolitical and economic challenges facing the world, alongside the Kingdom’s efforts to expand global unity and collaboration with both regional and global allies to better security and prosperity, SPA said.

MBS highlighted the Kingdom’s success under Vision 2030 that has brought investment opportunities in trending sectors across the economy, it added. He also discussed the big changes made in the last eight years to help businesses grow, referencing the growth of the Public Investment Fund (PIF) to become a massive sovereign wealth fund worth a trillion dollars.

According to SPA, MBS also announced the Kingdom’s economy has reached a significant milestone where the country’s current non-oil GDP surpassed 50 percent of the total GDP in 2023. He emphasized the significance of investing in research and development, which has boosted national industries and fueled the Kingdom’s digital economy.

Vision 2030 also had societal impacts as MBS noted significant improvements in quality of life, social mobility and inclusion, with women’s labor force participation doubling since 2016, according to SPA.

Talking about the future, MBS emphasized Saudi Arabia’s increasing global importance as a hub for transit, technology and trade, facilitated by initiatives such as IMEC, SPA added. He characterized Vision 2030 as a journey rather than a destination, inviting collaboration, growth and development opportunities with international partners.