By Ron Chen, Bureau Chief, Asia

Riyadh convened global leaders today at the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development to host candid dialogues and outline bold steps to tackle the most pressing geopolitical, social and economic challenges facing humanity.

Speaking at the Special Meeting, Minister of Energy for Saudi Arabia His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz Al Saud said a just and equitable energy transition will only be achieved by using a range of energy sources to diversify the global energy market. Access to secure and reliable energy, he said, is crucial to enabling people and communities from emerging nations achieve meaningful economic development.

In a session on ‘North to South, East to West: Rebuilding Trust’, Saudi Arabia’s Minister of Foreign Affairs, His Highness Prince Faisal bin Farhan Al Saud, led a discussion on addressing critical challenges through cooperation, speaking of the need to solve the humanitarian crisis in Gaza through “a real commitment to a two-state solution that is a credible, irreversible path to a Palestinian state.”

At the first WEF Open Forum to be hosted outside of Davos, Saudi Arabia’s Ambassador to the United States, Her Royal Highness Reema Bandar Al-Saud reflected on the Kingdom’s cultural awakening, saying, “right now, what you’re watching is a renaissance of this country falling in love with its heritage.”

Reflecting on the progress of Saudi Vision 2030, Minister of State for Foreign Affairs of Saudi Arabia, His Excellency Adel Aljubeir said: “We want to build a country that is diversified, that is inclusive, that is based on technology, that competes in the world and that is part of the global trading system.

At the start of the first day of the Special Meeting, His Excellency the Saudi Minister of Finance, His Excellency Mohammed Aljadaan, said that for long-term planning, countries need to be agile in dealing with economic challenges by making adjustments depending on circumstance.

Meanwhile, Saudi Arabia’s Minister of Communications and Information Technology, His Excellency Abdullah Alswaha discussed the link between artificial intelligence and economic growth, stating, “we are not at a tipping point, but a turning point in humanity,” while highlighting how Saudi Arabia is doubling down on AI diffusion across multiple sectors.

Saudi’s Minister of Tourism, His Excellency Ahmed Al-Khateeb said. “in just five years, Saudi Arabia’s tourism sector has nearly doubled, growing from US$35 billion to US$66 billion, with our sights set on reaching US$80 billion this year.”

Welcoming delegates to the two-day event, Saudi’s Minister of Economy and Planning His Excellency Faisal Alibrahim welcomed global leaders to the “global growth platform” that Saudi Arabia has become under Saudi Vision 2030, and stressed the importance of building a more inclusive global economy “where every nation has the chance to thrive, regardless of its wealth or status”.