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Saudi Arabia, WEF Sign Two MoUs for Boosting Cooperation

Saudi Arabia, WEF Sign Two MoUs for Boosting Cooperation

Wednesday, 25 May, 2022 - 09:30
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.


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