Riyadh, 17 January 2023 (TDI): According to the Saudi Foreign Ministry, A high-level delegation from the Kingdom of Saudi Arabia (KSA) is attending the World Economic Forum (WEF) Annual Meeting 2023 in Davos, Switzerland.

The delegation aims to promote global collaboration and create constructive solutions to geopolitical, social, economic, and human developmental issues.

Prince Faisal bin Farhan Al Saud, the Minister of Foreign Affairs, is leading the high-level delegation in Davos 2023.

The delegation reflects the Kingdom’s impartial strategy for establishing geopolitical ties with all nations and regions in order to prevent immediate threats while pursuing multilateral change.

It will discuss the progress made under Saudi Vision 2030 during their participation in WEF23. It is pertinent to note that Crown Prince Mohammed bin Salman launched the transformation program “Vision 2030” in 2016.

The goal of Vision 2030 is to develop a vibrant, diversified economy for global cooperation. The Saudi contingent will stress the necessity of investing in innovative solutions to major global issues.

Likewise, it will work to strengthen the stability and connectivity of vital supply chains. It will also highlight the significance of inclusive energy security for all.

Also Read:  Diriyah Project: Saudi Arabia’s New Cultural Assets

The Kingdom’s delegation to the WEF 2023 will talk about the government dealt with issues brought on by the epidemic. It will give insights into the remedies that helped sustain a strong performance in the face of increasing global pressures.

Saudi Arabia is estimated to have the fastest-growing G-20 economy in 2022, with a GDP growth rate of 8.5%.

53rd World Economic Forum 2023

The theme of the 53rd World Economic Forum Annual Meeting is “Cooperation in a fragmented world”. State officials and corporate leaders are looking forward to bilateral agreements and diplomatic negotiations at WEF 23.

This year, 2,500 world leaders and specialists convened in Davos. They anticipated discussing the urgent subjects of the day, including Ukraine and the future of the world order.

Leaders are also discussing the severity of the climate problem, its effects on food security and poverty, the prospects for the economy, and the future of the workforce at this event.

Initiatives regarding COVID- 19 and preparations are extended for the next pandemic because many countries still do not have access to vaccines.

Background of the Organization 

In 1971, a German Economist Professor, Klaus Schwab invited European corporate leaders to Davos, Switzerland to establish the World Economic Forum.

Schwab wanted to establish a platform where leading business executives and policymakers could discuss the most significant global challenges and acquire the best leadership and management practices.