Saudi Arabia Presents before Davos G20 Summit Priorities

The World Economic Forum is holding its 50th annual meeting in Davos, Switzerland. (Reuters)
The World Economic Forum is holding its 50th annual meeting in Davos, Switzerland. (Reuters)
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Saudi Arabia Presents before Davos G20 Summit Priorities

The World Economic Forum is holding its 50th annual meeting in Davos, Switzerland. (Reuters)
The World Economic Forum is holding its 50th annual meeting in Davos, Switzerland. (Reuters)

The World Economic Forum hosted on Thursday a session on Saudi priorities in the G20 Summit, which will be held in Riyadh in November.

Saudi Energy Minister Prince Abdulaziz bin Salman underlined the Kingdom’s openness to share its economic progress experience, especially in the energy fields.

He noted that his country attached great importance to climate issues and the need to reduce emissions, giving as an example the city of Neom, which he said would be an urban eco-friendly model.

Saudi Finance Minister Mohammed al-Jadaan, for his part, said that Saudi Arabia assumed the chairmanship of the G20 this year, amid several challenges facing the world, including geopolitical issues, climate change, technology problems and the volatility of foreign debts in countries of the world.

“We have new ways to study and benefit from technology, and we will focus on investing in the opportunities of the 21st century,” he told the participants.

Al-Jadaan continued that the world was becoming more interconnected, so are the challenges facing the countries.

“That’s why we must work together to face these challenges through international cooperation,” he remarked.

He noted that the Kingdom’s G20 plan was based on three main goals, which are empowering people, preserving the environment and the planet, and shaping new horizons by taking advantage of technology to serve the people of the world. He explained that one of the Saudi priorities during the G20 meeting was comprehensive financing and sustainable development.

Saudi Assistant Minister of Commerce Iman al-Mutairi emphasized the role of women in Saudi Arabia, saying that her country has engaged in serious reforms in this regard.

Also on Thursday, officials announced the next Middle East summit of the World Economic Forum (WEF) will be held in April.

“The next Middle East summit will be held in Saudi Arabia on April 5 and 6 this year,” WEF President Borge Brende told delegates.



Riyadh Hosts Saudi-Egyptian Industrial Forum

Officials are seen at the forum on Monday. (SPA)
Officials are seen at the forum on Monday. (SPA)
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Riyadh Hosts Saudi-Egyptian Industrial Forum

Officials are seen at the forum on Monday. (SPA)
Officials are seen at the forum on Monday. (SPA)

The Saudi-Egyptian Industrial Forum kicked off in Riyadh on Monday under the patronage of Minister of Industry and Mineral Resources Bandar Alkhorayef. The forum aims to bolster strategic industrial cooperation and integration between the two countries.

Organized by the Federation of Saudi Chambers of Commerce in collaboration with the Federation of Egyptian Industries, the forum witnessed the participation of Deputy Minister for Industrial Affairs Eng. Khalil bin Salamah, Saudi Export Development Authority CEO Abdulrahman Althukair, and 300 prominent Saudi and Egyptian industry leaders and investors.

Bin Salamah underscored the significance of strengthening economic cooperation and industrial integration between Saudi Arabia and Egypt. He advocated for enhanced industrial partnerships within five priority sectors identified in the Kingdom's National Industrial Strategy: pharmaceuticals, automotive, building materials, textiles, and food industries.

He highlighted the evolving strategic integration between the two countries across initiatives like "Saudi Made,Future Factories," and "Made in Egypt," as well as in the broader goods and services sector. Bin Salamah urged Egyptian industrialists to capitalize on the industrial investment opportunities available in the Kingdom, citing its ambitious plans to establish 24,000 new factories over the next decade.

Federation of Saudi Chambers of Commerce Chairman Hassan Alhwaizy hailed the forum as a crucial milestone in Saudi-Egyptian industrial collaboration, emphasizing the strategic partnership underpinning their economic relations, particularly in the industrial sector.

Federation of Egyptian Industries Chairman Mohamed El-Sewedy stated that current global challenges are accelerating the need for industrial integration between the two countries, strengthening their partnership to tap into the African market's potential.

Saudi-Egyptian Business Council Chairman Bandar Al-Ameri highlighted the substantial growth in trade exchange between Saudi Arabia and Egypt in recent years, fueled by developing economic partnerships between their respective business communities. He emphasized that signing the agreement to protect and encourage mutual investments represents a strategic achievement serving their shared interests.