Riyadh Embraces Global Collaboration to Tackle Economic and Social Challenges
In the bustling city of Riyadh, a leading Saudi official emphasized the importance of global collaborations in addressing the pressing economic and social challenges facing the world today.
During the recent World Economic Forum Special Meeting on Global Collaboration, Growth, and Energy for Development, Ammar Nagadi, the Kingdom’s vice minister of economy and planning, highlighted the significance of such gatherings in advancing economic cooperation on a global scale.
Amidst what he described as a “unique” period of economic and social challenges worldwide, Nagadi stressed the crucial need for countries to come together and work towards solutions.
With over 1,000 leaders from various sectors and more than 70 countries in attendance, Riyadh served as a meeting ground for discussions on global challenges and strategies for addressing them.
Nagadi also shed light on the ongoing economic transformation in Saudi Arabia, noting the country’s impressive progress in growth and diversification.
In a historic milestone, non-oil activities now account for 50 percent of the total GDP, showcasing the success of efforts to diversify the economy and create new opportunities for investment and employment.
With unemployment rates reaching record lows and forecasts predicting further growth in the coming years, Saudi Arabia is on a promising trajectory towards sustainable development.
Vision 2030, a comprehensive plan encompassing economic, social, and environmental goals, underscores the Kingdom’s commitment to sustainability and environmental conservation.
Initiatives like the Saudi Green Initiative, aimed at achieving net-zero emissions by 2060 and increasing renewable energy sources, demonstrate Saudi Arabia’s dedication to both economic prosperity and environmental stewardship.
As the world faces unprecedented challenges, Riyadh stands as a beacon of collaboration and progress, paving the way for a brighter future through global partnerships and sustainable initiatives.