RIYADH – Saudi Crown Prince Mohammed bin Salman spoke regarding the recent achievement achieved by the Kingdom for the first time, as the Kingdom’s current non-oil GDP represents more than 50% of the GDP in 2023.
This came during His Highness’s participation yesterday, in a special dialogue session within the special meeting of the World Economic Forum in Riyadh, in the presence of a number of leaders from the government and private sectors, and a number of academics and representatives of international organizations from various parts of the world, where the special session discussed the current geopolitical and economic challenges facing the world, The Kingdom’s efforts to enhance international cooperation and act as an engine for growth within the framework of its role as a global economic center in the Middle East region, which is a cornerstone of the global trade exchange system.
In details, Prince Mohammed bin Salman stressed that the Kingdom early realized the importance of international cooperation, growth and energy, and worked to strengthen partnership and integration, stressing the Kingdom’s pioneering role in creating a global impact in growth and energy.
Bin Salman added during the session that “the Kingdom played a major and pivotal role in international issues by devoting all efforts to building a stronger, more durable and sustainable global system, in parallel with the major economic and social transformation it is witnessing,” and that it “will continue its role in creating a lasting global impact, based on “From its leadership towards common international issues.”
The Saudi Crown Prince pointed out that “the Kingdom is working with its international partners within the framework of promoting innovation, trade integration, and energy security, with the aim of reaching a cohesive global economy,” pointing to the Kingdom’s provision of direct support and development investments, with the aim of encouraging economic and financial stability in the world.
Prince Mohammed bin Salman said: “The special meeting of the World Economic Forum carries many goals that the Kingdom has worked to achieve in various sectors of life in partnership with the international community.”
He stated that “the Kingdom has today become a source of opportunities and an incubator for innovation,” stressing “Saudi Arabia’s commitment to expanding the scope of international cooperation with its international partners with the aim of promoting comprehensive development for all, achieving integrated economic flexibility, and acting as a force supporting stability, prosperity, and peace in the region and the world in the long term.”
Bin Salman touched on the issue of the volatile geopolitical environment currently prevailing, stressing that “the most important factor for achieving security, stability and economic progress is to take advantage of all opportunities and give priority to cooperative partnerships with regional and global partners.”
During the session, the Crown Prince shed light on the Kingdom’s achievements within the framework of Saudi Vision 2030, explaining that Saudi Arabia continues to create transformative investment opportunities in emerging sectors in various aspects of its advanced economy.
He discussed the comprehensive reform package that the Kingdom has implemented over the past eight years with the aim of enabling private sector enterprises to contribute to the ongoing process of progress, pointing to the growth of the Public Investment Fund and its plans aimed at transforming into a sovereign fund whose wealth is estimated at trillions of dollars.
Prince Mohammed bin Salman spoke regarding the recent achievement achieved by the Kingdom, for the first time, as the Kingdom’s current non-oil gross domestic product represents more than 50% of the gross domestic product in the year 2023, stressing the importance of pumping more investments in the areas of research and development, given the Its major role in enabling leading national companies, including ACWA Power, SER, and Alaat, to continue the growth process.
He pointed out that the areas of research and development constitute a basic foundation that allows these companies to employ emerging technologies within their business models and promote growth in this important sector in the Kingdom, indicating that these efforts have contributed to accelerating the pace of growth of the digital economy in the Kingdom at a rate three times faster than the global growth rate.
In his speech, he also touched on the impact of Saudi Vision 2030 on all aspects of life in the Kingdom, which resulted in the building of a vibrant society, pointing to the great improvements that have occurred in the quality of life and social development, as women’s participation in the workforce has doubled since 2016.
Prince Mohammed bin Salman added that Saudi Vision 2030 is a journey, not a final destination, and that the Kingdom’s current achievements are only the beginning stage, and more must be done, which will generate many opportunities for cooperation, growth and development with various international partners.
Source: “SPA”
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2024-05-01 04:25:11
