SAUDI MINISTERS PITCH 'CONNECTOR ECONOMY' AT WEF DAVOS

KUALA LUMPUR, Jan 26 (Bernama) -- Saudi Arabia’s ministers at the World Economic Forum (WEF) Annual Meeting in Davos outlined the Kingdom's strategy to become a pivotal "connector economy" amid shifts in global trade, aggressively expanding its tourism sector, and reinforcing its role as a stable partner in finance and emerging technologies.

Minister of Commerce, Majid A. Alkassabi stated that global trade is moving toward a "managed and rule-driven trade model". He positioned Saudi Arabia's strategic location and resources as key advantages, allowing it to become a "bridge economy" and a major "logistic hub" linking Africa, Europe, and Asia.

The Kingdom’s tourism ambitions were highlighted by Minister of Tourism, Ahmed A. Alkhateeb. Citing UN Tourism projections for two billion tourists by 2030, he described the growth potential as "very encouraging" for Saudi hotel operators, investors, and technology providers.

On the financial front, Minister of Finance, Mohammed A. Aljadaan affirmed the government's role in providing a predictable business environment. This is being achieved by strengthening the national economy’s resilience and ensuring the private sector maintains the necessary confidence.

The Kingdom's technological focus was detailed by Minister of Communications and Information Technology, Abdullah A. Alswaha. Addressing challenges like the "energy wall and the memory wall" in artificial intelligence (AI), he extended a call for global partners, emphasising that Saudi Arabia is the partner of choice to accelerate and adopt AI in the "Intelligence Age".

Minister of Industry and Mineral Resources, Bandar I. Alkhorayef stressed Saudi Arabia's commitment to a multilateral approach in international cooperation. He pointed to the Future Minerals Forum as a global convening platform uniting governments, industry, finance, and academia to address the future of minerals.

Minister of Economy and Planning, Faisal F. Alibrahim, speaking on economic partnerships, expressed belief in a world where every country can realise its economic potential while maintaining open dialogue, calling the current era a vast opportunity to "design the future".

Further cementing its global role, the Global Innovation Platform—a strategic partnership between Saudi HoldCo and GoldenPoint Global—launched the Saudi–United States Innovation Partnership during the meeting, according to a statement.

This platform is designed to accelerate bilateral collaboration in life sciences, AI, and advanced manufacturing, anchored in Riyadh and Austin.

Additionally, Amplifai Health was recognised as a winner in the second cohort of WEF’s MINDS - AI Global Alliance initiative.

-- BERNAMA