Saudi Arabia’s Economic Transformation at WEF25: Rewriting the Playbook
Davos, Switzerland– Saudi Arabia’s delegation to the World Economic Forum (WEF) Annual Meeting today shared its strategy for rewriting the economic playbook during several key sessions, including one led by the Kingdom on its economic transformation.
In the session titled ‘Saudi Arabia’s Economic Shifts’, His Excellency Mohammed A. Aljadaan, Minister of Finance, described the main forces driving the Kingdom’s transformation: “The whole nation has been mobilized behind Saudi Vision 2030. There’s a very clear vision that the people, the business community, and the government are all driving towards. We have a leadership that takes a long-term view, prepared to make tough decisions, and to be consistent.”
Earlier, in ‘The Road Ahead for Scaling AI’, His Excellency Abdullah A. Alswaha, Minister of Communications and Information Technology, outlined the Kingdom’s efforts to foster global dialogue to drive inclusive progress. He said: “The Kingdom today, in Davos, is working with like-minded partners, innovators and policymakers to see how we can leverage our competitive advantage and our position to serve humanity and fuel the AI economy in this age.”
Next-Gen Industrial Infrastructure
His Excellency Bandar I. Alkhorayef, Minister of Industry and Mineral Resources, participated in the session ‘Next-Gen Industrial Infrastructure’. He said: “Today what we are doing in Saudi Arabia, in terms of our aspiration to diversify our economy, can be enabled with technology. Through the efforts of the government today, it is very clear we are prioritizing digital infrastructure and connectivity. We believe manufacturing is an important sector for growing the economy and we are committed to building the technologies that will shape its future.”
Engines of Growth
His Excellency Faisal F. Alibrahim, Minister of Economy and Planning, shared, “We’re all seeking engines of growth. The Kingdom’s story is an example of how transformation is an engine of growth. Despite the tepid twenties, the Kingdom has been able to fire up new engines of growth and keep moving forward.”
Transitioning Industrial Clusters
The Royal Commission for Jubail and Yanbu (RCJY) announced that Jubail Industrial City has become the first city in the region to join WEF’s Transitioning Industrial Clusters to Sustainable Development initiative. Launched by WEF at Davos 2025 in collaboration with Accenture and the Electric Power Research Institute (EPRI), the initiative aims to accelerate the decarbonization of industrial clusters.
Saudi Arabia’s Markets of Tomorrow Accelerator
The Research, Development, and Innovation Authority has published a special report on the “Saudi Arabia’s Markets of Tomorrow Accelerator”. An initiative launched in collaboration with WEF’s Accelerator Network. The report highlights the initiative’s efforts to drive economic transformation through innovative, entrepreneurship-focused solutions, while outlining its vision for fostering the growth of key emerging markets in the Kingdom. It also explores how the initiative is tackling challenges and accelerating development to align with the goals of Saudi Vision 2030.
As we witness Saudi Arabia’s economic transformation at WEF25, it’s essential to recognize the dedicated efforts of the Kingdom’s leaders in driving progress and innovation. Through strategic partnerships and a clear vision outlined in Saudi Vision 2030, Saudi Arabia is paving the way for a more diverse and sustainable economy.
The commitment to leveraging technology, fostering dialogue, and prioritizing key sectors like manufacturing showcases a holistic approach towards economic development. As we navigate the challenges of the current global landscape, the Kingdom’s example serves as a beacon of inspiration for other nations seeking growth opportunities.
The initiatives announced at WEF25, such as the Transitioning Industrial Clusters and the Markets of Tomorrow Accelerator, highlight Saudi Arabia’s proactive stance towards embracing change and driving sustainable development. By aligning with global partners and focusing on innovation, the Kingdom is poised to shape a brighter future for its citizens and the global economy.
In a world where economic uncertainties abound, Saudi Arabia’s bold steps towards transformation offer valuable lessons in resilience, adaptability, and forward-thinking strategies. As we look towards the future, let us draw inspiration from the Kingdom’s journey and work together towards a more prosperous and sustainable world for all.
