Riyadh: The World Economic Forum (WEF) Special Meeting, held here on April 28-29 under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince and Prime Minister, ended with attendees calling for clear pathways to stability, prosperity and inclusive growth opportunities to face rising cross-border challenges.
The more than 1,000 participants in the forum held under the theme ‘Global Collaboration, Growth and Energy for Development’ included leading political, economics, energy and technology figures. It witnessed the highest number of participants in a WEF event hosted outside of its Annual Meeting venue in Davos, Switzerland.
The meeting set the stage for the launch of several initiatives in the field of healthcare, artificial intelligence, space and sustainability.
The Kingdom signed three key agreements with the Bill and Melinda Gates Foundation. They involved the King Salman Humanitarian Aid and Relief Center (KSrelief) and the Ministry of Health, with the aim
of bolstering healthcare and preventing polio in numerous countries.
A collaborative effort was also announced with the Mohammed bin Salman Misk Foundation. It will focus on supporting youth participation in the non-profit sector and launching joint global programs.
Further solidifying the collaboration, the Bill and Melinda Gates Foundation will establish a regional headquarters in Riyadh’s Misk City.
Economy and Planning Minister Faisal Alibrahim said that the world stands at a crossroads of opportunity and responsibility, and highlighted the need to create a global economy where every nation has the chance to thrive, regardless of its wealth or standing.
Saudi Arabia also announced the extension of its collaboration with WEF’s innovation platform UpLink.
Three new challenges will be launched to address climate change and support energy transition.
A pioneering sustainability initiative was introduced to foster collaboration among leading Saudi companies in key sectors. It aims to produce comprehensiv
e and sustainable economic growth strategies.
In a session on innovations in carbon capture, storage and uses, Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz Al-Saud emphasized the need to explore solutions for an equitable energy transition, and stressed the importance of developing advanced systems to map out the future of energy and meet upcoming demands.
Global cooperation was high on the forum agenda. Minister of Foreign Affairs Prince Faisal bin Farhan Al-Saud led discussions concerning collaboration to overcome most critical geopolitical challenges, including the unfolding conflicts in the Middle East, Africa and Eastern Europe.
Minister of State for Foreign Affairs Adel Aljubeir, addressing the same topic, stressed the need to find a clear and irreversible path to attain enduring regional stability.
WEF President Børge Brende said the event was a ‘consequential’ gathering that attracted key global leaders, including Palestine President Mahmoud Abbas, US Secretary of State Anthony Bli
nken and UK Foreign Secretary David Cameron.
Minister of Finance Mohammed Al-Jadaan, in talks with IMF Managing Director Kristalina Georgieva, tackled the critical need to reignite economic growth while promoting equality.
Minister of Communications and Information Technology Eng. Abdullah Alswaha, addressing a session on AI and productivity, talked about the opportunities and risks associated with the rise of AI.
The event also witnessed the launch of several groundbreaking initiatives. For example, Moderna CEO Stéphane Bancel announced the company’s plans to work on the first product for cancer, potentially as early as 2025.
The Kingdom’s commitment to innovation was further solidified with the announcement by Alibrahim regarding Saudi Arabia’s accession to the AI Governance Alliance, a WEF initiative.
Source: Saudi Press Agency