Saudi Arabia to host World Economic Forum amidst geopolitical challenges

As global economy grabbles with increasing challenges, specifically in the Middle East region, Saudi Arabia gears up to host World Economic Forum (WEF) on April 28-29 as part of efforts to address challenges and achieve economic stability.

Saudi Shura Council member, Fadel Alboenain, told KUNA that this fuels international cooperation efforts and creates sustainable solutions.

Alboenain affirmed Saudi’s keenness on such initiatives to boost international efforts, joint work, suitable solutions, to arrive at global growth and prosperity.

This high and expansive participation allows the chance to handle a host of issues and developments, as it creates a joint platform for world countries.

The WEF is a great opportunity to exchange experience and skills, discuss important geopolitical and economic issues to formulate a shared vision that aids economic reform and growth, and establish global cooperation.

On his part, the CEO of Saudi’s Razeen Capital and analyst, Mohammad Al-Suwayed, affirmed in his remarks to KUNA the significance of the forum in establishing global economic stability and growth.

These conventions handle important topics of policy making and agreement supporting regions still recovering from economic halt during coronavirus pandemic, stated Al-Suwayed.

Saudi Arabia hosting the Forum is part of their responsibility in contributing and seeking economic stability in the region and the world, he affirmed.

Member of Saudi Economic Association, Abdulhameed Al-Amri, spoke to KUNA of the conditions affecting global economy, saying that the escalating pace of geopolitical challenges has intensified the size and volume of participation in the much anticipated forum. He added that this amplified participation is a testament to Saudi Arabia’s economic significance, especially considering the positive outlooks proposed by the International Monetary Fund and Bank as well as other international banks regarding the gulf region.

Al-Amri forecasts that the gulf region, in the next decades, will become an economic and investments hub due to expansive financial reserves and sufficient resources, underlining the forum as an opportunity to attract further international investments and partnerships to the region.

The WEF’s agenda includes comprehensive growth agreements, A.I developments, industrial policies, economic policies, as well as addressing the shortage in long-term investment in human development.

Source: KUNA

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