A gathering of policymakers, economists, and industry leaders is scheduled for February 16-17, 2024, at the AlUla Conference for Emerging Market Economies in Saudi Arabia.

This conference, organized jointly by Saudi Arabia’s Ministry of Finance and the International Monetary Fund (IMF), aims to address critical structural changes in the global economy and their implications for emerging markets.

The Saudi Press Agency reported that the annual event intends to provide a platform for discussions on navigating current economic challenges and exploring opportunities linked to advancements in technology, particularly artificial intelligence.

Saudi Finance Minister Mohammed Al-Jadaan emphasized that the conference would enable decision-makers to share insights on economic policies that can facilitate adaptation to these evolving challenges.

Minister Al-Jadaan stated, "The conference will also showcase the latest regional and global economic developments, focusing on enhancing prosperity and resilience."

IMF Managing Director Kristalina Georgieva underscored the importance of the event, stating it arrives amidst a period of significant transformation in the global economic landscape.

She noted that the conference would serve as a crucial forum for stakeholders to explore how emerging economies can leverage current economic shifts to boost their competitiveness and achieve robust private sector-led growth.

Looking ahead, a report released in January 2024 by Moody’s Investors Service forecasted that oil production increases, alongside substantial investment initiatives, could elevate annual economic growth in the Middle East and North Africa by 0.8 percentage points by 2025.

Saudi Arabia is actively pursuing economic diversification through its Vision 2030 initiative, positioning itself as a central player in global economic discussions.

The AlUla conference highlights the Kingdom’s commitment to fostering international collaboration in the face of changing economic dynamics.