Saudi Arabia, WEF Sign Two MoUs for Boosting Cooperation

The Saudi delegation at Davos. (SPA)
The Saudi delegation at Davos. (SPA)
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Saudi Arabia, WEF Sign Two MoUs for Boosting Cooperation

The Saudi delegation at Davos. (SPA)
The Saudi delegation at Davos. (SPA)

The Saudi delegation participating at the annual meeting of the World Economic Forum (WEF) in Davos 2022 met with the founder and CEO of the Forum Klaus Schwab and the President of WEF Borge Brende.

During the meeting, opportunities to strengthen the partnership between the Kingdom and the Forum were reviewed in a way that supports Saudi Arabia's economic transformation process and maximizes its contribution to promoting global economic growth.

Minister of Economy and Planning Faisal bin Fadhel Al-Ibrahim and Brende signed two memoranda of understanding (MoUs).

The first aims to boost the existing partnership opportunities between the Kingdom and the WEF, explore and identify future opportunities that deepen the relationship to support the transformation of the Kingdom, and advance the global agenda to be in line with the main objectives of the Forum.

The agreement is part of the Kingdom's efforts, represented by the Ministry of Economy and Planning, to transform its economy as outlined in Saudi Vision 2030, as well as restore global economic balance after the coronavirus pandemic.

It also serves the Forum's goal of improving the global economy by engaging business, political, academic, and other community leaders in shaping global and regional plans for economic development.

Al-Ibrahim also signed the second MoU, on behalf of the Minister of Health, with the President of WEF. The agreement aims to promote wise healthcare and activate cooperation frameworks between the public and private sectors and specialists within the field.

This second agreement will result in the Kingdom joining the Global Alliance for Banking on Values (GABV) in Healthcare of the Forum, contributing to raising community awareness in the field, and benefiting from the Forum's experiences and insights in formulating a strategy to improve wise healthcare at the global level.



Saudi Arabia Reaffirms Its Commitment to Promoting Global Peace, Security

 Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud chairs the Cabinet session held Tuesday in Riyadh - SPA
Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud chairs the Cabinet session held Tuesday in Riyadh - SPA
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Saudi Arabia Reaffirms Its Commitment to Promoting Global Peace, Security

 Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud chairs the Cabinet session held Tuesday in Riyadh - SPA
Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud chairs the Cabinet session held Tuesday in Riyadh - SPA

Saudi Arabia's cabinet reaffirmed the Kingdom's commitment to promoting global peace and security and emphasized the importance of dialogue in resolving international crises. This came during Tuesday's session chaired by Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud chaired the Cabinet session in Riyadh.
The Cabinet reviewed recent talks held by Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud with leaders of several brotherly and friendly nations. The discussions, part of ongoing close relations and consultations, focused on various regional and international issues.
The Cabinet expressed gratitude to Russian President Vladimir Putin for his positive remarks, conveyed in a phone call with the Crown Prince, regarding Saudi Arabia's role in hosting fruitful talks between Russia and the United States.
Following the session, the Minister of State, Cabinet Member, and Acting Minister of Media, Dr. Essam bin Saad bin Saeed told the Saudi Press Agency (SPA) that the Cabinet reviewed the outcomes of Saudi Arabia's participation in recent regional and international meetings, part of the Kingdom's ongoing support for multilateral efforts that promote sustainable development, prosperity, and address shared global challenges.
The Cabinet expressed hope that the Riyadh International Humanitarian Forum will contribute to unifying efforts and developing innovative solutions for enhancing humanitarian response in light of increasing global disasters and crises. The Cabinet highlighted the Kingdom's longstanding commitment to providing aid and relief to those in need worldwide.
The Cabinet commended the success of the first annual global AlUla Conference for Emerging Market Economies, co-organized by Saudi Arabia and the International Monetary Fund. It highlighted the conference's strategic vision, which promotes international cooperation and paves the way for a promising global economic future.
Dr. Bin Saeed stated that the Cabinet deemed the Kingdom's presidency of the World Trade Organization's General Council (2025-2026) as confirmation of its international standing and leadership role in strengthening partnerships and achieving constructive outcomes toward a more efficient, sustainable, and inclusive global trading system.
The Cabinet also noted the broad international participation in the fourth Saudi Media Forum held in Riyadh and the launch of initiatives including programs to enhance media business incubators and accelerators, support financial and regulatory transformation, foster talent development, and adopt modern technologies.