WEF25: Saudi Arabia “Rewriting the Economic Playbook”
24.1.2025 11:00:00 CET | Business Wire | Press release
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.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250124094652/en/
His Excellency Faisal F. Alibrahim, Minister of Economy and Planning (Photo: AETOSWire)
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.”
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.”
His Excellency Faisal F. Alibrahim, Minister of Economy and Planning: “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.”
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.
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.
Source: AETOSWire
View source version on businesswire.com: https://www.businesswire.com/news/home/20250124094652/en/
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
EVE Energy Showcases All-Scenario Energy Storage Solutions at The Smarter E Europe 20261.7.2026 03:45:00 CEST | Press release
EVE Energy unveiled its Mr. Big Family series, a 6.9+ MWh energy storage system, and all-scenario energy storage solutions at Intersolar Europe in Munich. Drawing on traceable large-cell technology, proven large-scale energy storage project delivery experience, and global delivery capabilities, the company is addressing Europe's diverse energy storage requirements across utility-scale, commercial & industrial (C&I ), and data center segments. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260630889717/en/ EVE Energy showcases its Mr. Giant 3.0 6.9+ MWh energy storage system at The Smarter E Europe 2026 in Munich, Germany Advancing Large-Cell Technology with Global Project Validation As one of the first companies to focus on large-capacity energy storage cells, EVE Energy has iteratively upgraded its cell platform from 560 Ah and 628 Ah to 702 Ah, adhering to a stacking process route throughout. At the exhibition, the Mr. Gia
Bending Spoons S.p.A. announces pricing of initial public offering1.7.2026 01:56:00 CEST | Press release
Bending Spoons S.p.A. (“Bending Spoons”), a leading technology company, today announces the pricing of its initial public offering (“IPO”) at $29.00 per share. A total of 57,971,015 ordinary shares are being offered, of which 34,398,640 shares are being offered by Bending Spoons and 23,572,375 shares are being offered by certain selling shareholders (the “Selling Shareholders”). Bending Spoons will not receive any proceeds from any sale of shares by the Selling Shareholders. The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “BSP” on July 1, 2026. The offering is expected to close on July 2, 2026, subject to customary closing conditions. In addition, Bending Spoons and the Selling Shareholders granted the underwriters an option to purchase up to an additional 5,244,026 ordinary shares from Bending Spoons and up to an additional 3,451,626 ordinary shares from the Selling Shareholders at the initial public offering price, less underwriting
FDA Issues Modified Risk Tobacco Product Orders for 20 ZYN Nicotine Pouch Products30.6.2026 18:19:00 CEST | Press release
FDA’s decision makes ZYN the first nicotine pouch product to receive MRTP orders authorizing reduced-risk claims versus cigarettes Philip Morris International Inc. (PMI) (NYSE: PM) today announced that the U.S. Food and Drug Administration (FDA) issued Modified Risk Tobacco Product (MRTP) orders for 20 variants of ZYN nicotine pouch products. These are the first MRTP orders granted for nicotine pouches, allowing PMI U.S. to market the following claim for the authorized ZYN products: “Using ZYN instead of cigarettes puts you at a lower risk of mouth cancer, heart disease, lung cancer, stroke, emphysema, and chronic bronchitis.” “FDA’s decision is an important moment for the more than 45 million legal-age nicotine consumers in America,” saidStacey Kennedy, PMI U.S. CEO. “Today’s news ensures these adultshave access to accurate, science-based information, including FDA-authorized evidence that switching from cigarettes to ZYN reduces the risk of smoking-related diseases like heart disease
Caidya Announces Strategic Combination with Simbec-Orion Bridging Early Scientific Insight and Global Clinical Execution30.6.2026 17:00:00 CEST | Press release
Caidya today announced a strategic combination with Simbec-Orion designed to close the divide between early scientific insight and global clinical execution. The combination of Caidya and Simbec-Orion creates a differentiated specialty clinical CRO platform that enables programs to scale, maintaining focus, speed, and accountability. The strategic combination brings together complementary strengths to create a more complete development partner for innovative biopharma companies. With established operations across Europe, the Americas, APAC, and China, the combined organization provides meaningful expertise and execution capabilities in the regions that matter most. Simbec-Orion brings early-phase clinical pharmacology capabilities alongside deep therapeutic expertise for later stage complex oncology and rare disease trials, helping sponsors shape critical decisions early in the development lifecycle. Together, the organizations strengthen their ability to support complex, cross-border
Archer® Proves Purpose-Built AI Beats General-Purpose LLMs on Regulatory Change Management: 95% Verified Accuracy, 80x Faster, 92% Lower Cost30.6.2026 16:13:00 CEST | Press release
In a head-to-head benchmark, a leading general-purpose LLM was confidently wrong 35% of the time on regulatory dates. Archer Evolv™ shipped zero errors. For enterprises deploying AI in compliance, a wrong date is a missed deadline. The more dangerous failure is a wrong answer the model returns with high confidence, one that flows silently into a compliance calendar and is only discovered after the window has passed. Archer® today released results showing purpose-built AI beats a general-purpose large language model (LLM) on regulatory work, and it’s not close. This head-to-head test compared Archer’s purpose-built, vertical-specific AI and proprietary data sets against a leading general-purpose LLM, on a core compliance task: determining the publication, effective and comment-close dates of regulatory documents across six jurisdictions. General-purpose models are a genuine breakthrough, and this is no referendum on their quality. The question Archer set out to answer is narrower and mo
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom