Riyadh prepares for WEF meeting on collaboration, growth and energy

Around 1,000 leaders from 92 countries will convene in Riyadh for the World Economic Forum’s Special Meeting on Global Collaboration, Growth and Energy for Development on Sunday and Monday. (SPA)
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Updated 28 April 2024
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Riyadh prepares for WEF meeting on collaboration, growth and energy

  • Meeting aims to bridge growing North-South divide and find ‘collaborative solutions to shared challenges’
  • Will drive ‘action-oriented dialogue’ on three key themes: Inclusive Growth, Energy for Development, and Global Collaboration

RIYADH: Around 1,000 leaders from 92 countries will convene in Riyadh for the World Economic Forum’s Special Meeting on Global Collaboration, Growth and Energy for Development on Sunday and Monday.

The war in Gaza and broader Middle East tensions are expected to get top billing at a forum.
US Secretary of State Antony Blinken, Palestinian leaders and high-ranking officials from other countries trying to broker a ceasefire between Israel and Hamas are on the guest list for the summit in Riyadh.
“The world is today walking a tightrope right now, trying to balance security and prosperity,” Saudi planning minister Faisal Al-Ibrahim told a press conference on Saturday previewing the event.
“We meet at a moment when one misjudgment or one miscalculation or one miscommunication will further exacerbate our challenges.”
Building on the inaugural Growth Summit in Switzerland last year, the Riyadh meeting will, according to the WEF, “promote forward-thinking approaches to interconnected crises, while remaining realistic about shorter-term trade-offs” and “work to bridge the growing North-South divide on issues such as emerging economic policies, the energy transition and geopolitical shocks.”
Børge Brende, WEF’s President said in a press release: “With geopolitical tensions and socio-economic disparities deepening divides globally, international collaboration and purposeful dialogue has never been more urgent.”

 

The special meeting, held under the patronage of Crown Prince Mohammed bin Salman, provides an opportunity for leaders, according to Brende, to “turn ideas into action and unlock scalable solutions to the many interconnected challenges being faced.”
Saudi Economy and Planning Minister Faisal Al-Ibrahim said in the release: “At this global inflection point, revitalizing international collaboration has never been more important. In Saudi Arabia, the World Economic Forum has chosen an established and dynamic global platform for thought leadership, solutions and action, as the host of a critical meeting at such a critical moment.
“We are working to ensure that progress for one part of the world does not come at the expense of another. And we are committed to meeting this moment with a determination to co-author a shared future that is secure, stable and sustainable,” he continued.

 

The event’s three themes are: ‘A Compact for Inclusive Growth,’ ‘Catalyzing Action on Energy for Development,’ and ‘Revitalizing Global Collaboration.’
Participants will include Mishal Al-Ahmad Al-Jaber Al-Sabah, the Emir of Kuwait; Egyptian Prime Minister Mostafa Kamal Madbouly; Iraqi Prime Minister Mohammed Shia Al-Sudani; Bisher Al-Khasawneh, Jordan’s Prime Minister; Malaysian PM Anwar Ibrahim, Pakistani PM Shehbaz Sharif; Palestinian president Mahmoud Abbas; Qatari PM Mohammed Bin Abdulrahman Al-Thani; US Secretary of State Antony Blinken; Josep Borrell, High Representative of the European Union for Foreign Affairs and Security Policy; Stéphane Séjourné, French minister for Europe and foreign affairs; Annalena Baerbock, Germany’s federal minister of foreign affairs; David Cameron, UK secretary of state for foreign, Commonwealth and development affairs; Kristalina Georgieva, managing director of the International Monetary Fund; UN Senior Humanitarian and Reconstruction Coordinator for Gaza Sigrid Kaag; and World Health Organization Director-General Tedros Adhanom Ghebreyesus.


Playing to win: Qiddiya City begins to welcome the world

Updated 7 sec ago
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Playing to win: Qiddiya City begins to welcome the world

  • A Six Flags theme park, the first completed attraction at the massive new entertainment, sports and cultural destination focused on “play,” opened for business on New Year’s Eve
  • The development near Riyadh will eventually include 70 major attractions, including a water park, a Dragon Ball theme park, world-class sports facilities and esports arenas

RIYADH: Qiddiya City, the massive entertainment, sports and cultural destination under construction near Riyadh, is scaling up quickly as it aims to add SR44 billion ($11.7 billion) to gross domestic product and create 85,000 jobs by 2030.

The Qiddiya Investment Company’s ambitious inaugural project, a global destination built from the ground up focused on the concept of “play,” is starting to roll out its entertainment attractions, sports venues and the infrastructure to support them. The hype really began to build when the Six Flags Qiddiya City theme park, the first of 70 major attractions, opened on New Year’s Eve.

Spanning an area of more than 360 sq. km, Qiddiya City is located at the heart of the Tuwaiq Mountains, about 40 minutes from the Saudi capital. The development’s economic model is rooted in experiential tourism, a growing segment in this market.

Its goal is to support Saudi Arabia’s economic diversification and development; this year alone, as its attractions begin to open, the project is expected to contribute SR2.5 billion to national GDP and provide 7,000 jobs. But the vision and the dream are bigger and wider than that

Abdullah Nasser Al-Dawood, the managing director of Qiddiya Investment Company, set out the strategic importance of the development and its aggressive growth trajectory during a recent appearance on the “Fi Al Soura” television program. He described Qiddiya City as a long-term national development initiative driven by extensive market research and directives from Crown Prince Mohammed bin Salman, the chairman of its board of directors.

“Qiddiya was created in response to people’s needs,” Al-Dawood said. “His Royal Highness further directed us to not merely meet these needs but to import the best global practices, infuse them with a unique Saudi touch and create a Saudi landmark for the world.”

The Qiddiya team talked to more than 20,000 people to better understand their needs, he added, discussions that revealed an overwhelming desire for high-quality recreational options and family activities.

The integrated design of Qiddiya City means that its entertainment, hospitality, sports, culture and infrastructure will work together in a synergistic fashion, its designers say, to help elevate the competitive global standing of the Kingdom.

The opening of Six Flags Qiddiya City will soon be followed by Aquarabia, a Saudi-designed water park featuring record-breaking rides. It will have women-only days with strict privacy protocols, reflecting a culturally sensitive approach to local needs.

Qiddiya City will also have the only theme park in the world based entirely around the Japanese media franchise Dragon Ball, targeting more than 2 billion anime and manga fans locally and worldwide.

Two out of three people in Saudi Arabia identify as gamers, and Qiddiya City will cater to them with dedicated esports arenas. In addition it will host regional headquarters for gaming companies, and accommodation tailored to the international gaming community, with the aim of capturing a significant share of the $250 billion global gaming market.

A multi-faceted motor sports center, in partnership with Mercedes-AMG, will include a globally unique “Speed Park Track” that includes a 70-meter climb to an elevated a first corner, and can host more than 16 established international events, including Formula One and Formula E.

In addition to providing venues for numerous international sporting events, Qiddiya City is also developing world-class headquarters for Saudi Pro League football teams Al-Nassr and Al-Hilal, which developers say will rival top international facilities and be backed by strategic 20-year sponsorship deals.

Other sports facilities will include a National Tennis Center, an Equestrian Zone that will host the Saudi Cup, and the innovative Prince Mohammed bin Salman Stadium, expected to open in 2029.

Qiddiya City also aims to become a premier golf destination through a global partnership with the Faldo Series, described as the leading development pathway for young golfers, and by hosting international events. British golfer Nick Faldo has designed an 18-hole championship course that is set to open this year, and a state-of-the-art clubhouse, golf academy and practice facilities will follow in 2028.

Qiddiya City’s “Park of Parks” zone will feature 10 public parks and 29 hotels as part of a largely car-free environment offering a diverse range of public-transportation options, including monorails and even gondolas.

The city has been designed to accommodate 500,000 residents in 150,000 residential units to support the 300,000 people expected to work at Qiddiya City upon completion.

The development of the city has been structured in three main waves, with new attractions opening every three months until it is fully operational in 2034, when the Kingdom will host the FIFA World Cup.

Acknowledging the importance of seamless access to the city and its attractions, Al-Dawood highlighted the ongoing infrastructure enhancements that are being carried out by the Royal Commission for Riyadh City, including road expansions, a new Metro line serving eight stations in Qiddiya City, and proposals for a high-speed train link, which he said will significantly improve connectivity.

Developers say they are also committed to social responsibility, and have pledged to donate 1 percent of revenues to community and charitable organizations to “open the door to play for everyone.”

Safety and security are described as a “red line” for the development; Six Flags underwent rigorous certification by specialized German companies and its rides completed 4,500 test runs prior to opening.

“It is an immense privilege to serve my country and its leadership, contributing to Vision 2030 through a magnificent project like Qiddiya,” said Al-Dawood.

“We are not just building a city; we are creating a national landmark that will inspire and uplift for generations to come, fostering opportunities and experiences unparalleled anywhere in the world.”