Saudi Crown Prince Mohammed bin Salman: Global Collaboration Key to Building a Resilient, Integrated Economy
Saudi Crown Prince Mohammed bin Salman called for global collaboration to create a more resilient and integrated global economy during a dialogue session at the World Economic Forum in Riyadh.
He discussed geopolitical and economic challenges and reaffirmed Saudi Arabia's role as a stabilizing force in the region.
The crown prince highlighted the kingdom's commitment to providing opportunities for investors, building on its decades of growth from energy exports.
The crown prince of Saudi Arabia spoke at a special session, highlighting the country's progress under Vision 2030.
He noted achievements in creating investment opportunities in emerging sectors and enabling the private sector to drive growth.
The Public Investment Fund's growth and aim to become a trillion-dollar sovereign wealth fund were given as examples.
The crown prince also mentioned that non-oil economic activity reached a record 50% contribution to the Kingdom's GDP in 2023.
The crown prince of Saudi Arabia stressed the significance of investing in research and development, which has led to the growth of companies like ACWA Power, Ceer Motors, and Alat, allowing them to incorporate new technologies into their businesses and expand the sector.
This investment has also accelerated the growth of the Kingdom's digital economy at a rate three times faster than the global average.
Furthermore, Saudi Vision 2030 has fostered a thriving civil society, enhanced quality of life, and boosted social mobility and inclusion, resulting in a doubling of women's participation in the workforce since 2016.
Prince Mohammed of Saudi Arabia spoke at the World Economic Forum in Riyadh, highlighting the country's efforts to build a modern economy focused on innovation, growth, and opportunity with the help of global partners.
He emphasized that Saudi Vision 2030 is an ongoing journey, and while progress has been made, there is still work to be done.