Saudi crown prince calls for global collaboration to build resilient global economy

Saudi Arabia’s Crown Prince Mohammed bin Salman. (File/SPA)
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Updated 29 April 2024
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Saudi crown prince calls for global collaboration to build resilient global economy

  • Crown prince affirmed the Kingdom’s commitment to acting as a stabilizing force in the region
  • He said cohesion and cooperation with regional and global partners is the key to achieving security and prosperity

RIYADH: Saudi Crown Prince Mohammed bin Salman called for global collaboration to help build a more resilient and integrated global economy on Sunday.

Speaking during a special dialogue session at the World Economic Forum’s Special Meeting in Riyadh, the crown prince discussed the current geopolitical and economic challenges facing the world, Saudi Press Agency reported.

He affirmed the Kingdom’s commitment to acting as a stabilizing force in the region and said that cohesion and cooperation with regional and global partners is the key to achieving security and prosperity.

Saudi Arabia has created diverse opportunities for regional and global investors by building on decades of robust growth fueled by its energy exports, the crown prince said.

He also highlighted the Kingdom’s achievements under Saudi Vision 2030, noting that the Kingdom continues to create transformative investment opportunities in emerging sectors across its evolving economy.

At the special session attended by government officials, business leaders, and academics, the crown prince discussed the comprehensive set of reforms implemented in the Kingdom over the course of the last eight years to enable the private sector to become an engine of growth. He said the growth of the Kingdom’s Public Investment Fund and its intent to become a trillion-dollar sovereign wealth fund was an example of this.

Discussing Saudi Arabia’s rapidly diversifying economy, the crown prince said non-oil economic activity in Saudi Arabia contributed 50 percent to the Kingdom’s gross domestic product in 2023, the highest level ever.

He emphasized the importance of investing in research and development, noting that such investment has propelled the growth of national giants including ACWA Power, Ceer Motors, and Alat.

This creates a foundation for these companies to embed emerging technologies into their business models and further the growth of the sector in the Kingdom, the crown prince said. He added that this has contributed to the rapid growth of the Kingdom’s digital economy, at a rate three times faster than the global growth rate.

He also highlighted how Saudi Vision 2030 has created a flourishing civil society and brought about vast improvements to quality of life and social mobility and inclusion, with women’s participation in the workforce having doubled since 2016.

Working with global partners, Saudi Arabia is building an economy of the future based on innovation, growth, and opportunity, Prince Mohammed said.He ended by saying Saudi Vision 2030 is a journey, not a destination, and that although the Kingdom has made significant strides, there is still much more to do.

The special meeting of the World Economic Forum in Riyadh ended on Monday evening.


Human development program helping to expand pathways for Saudi students into elite global universities

Updated 21 January 2026
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Human development program helping to expand pathways for Saudi students into elite global universities

  • HCDP takes a comprehensive approach, supporting citizens throughout their lives from early childhood education through to lifelong learning

DAVOS: Saudi Arabia is accelerating efforts to equip its young population with the skills and global exposure needed to compete on the world stage, as part of the Kingdom’s Vision 2030 agenda, the CEO of the Human Capability Development Program told Arab News.

Speaking on the sidelines of the World Economic Forum in Davos, Anas Al-Mudaifer said the program, one of Vision 2030’s realization initiatives, is enhancing the competitiveness of Saudi citizens by investing in their skills, knowledge and long-term development.

“Our mandate is to improve and enhance the competitiveness of the Saudi citizen,” he said. “We want to make sure they have the opportunity to compete locally and globally,” he added.

The HCDP takes a comprehensive approach, supporting citizens throughout their lives from early childhood education through to lifelong learning, while aligning education and training with the evolving needs of the labor market, he said.

Al-Mudaifer added that reforms are underway across the education system, including expanded access to early childhood education, new school curricula and teaching methods, and stronger alignment between higher education, vocational training and future labor market demands.

A key pillar of the strategy is preparing Saudi youth for global competition, a push that is already delivering tangible results.

“We have seen Saudis competing in admission to Ivy League schools,” he said. “More than 1,000 Saudi students are now enrolled in top 30 universities every year.”

He added that Saudi Arabia now ranks as the second-largest source of international students at the Massachusetts Institute of Technology, behind only China, a milestone he described as “a great achievement and a great footstep for Saudi students.”

Beyond academia, Saudi graduates are increasingly securing roles in leading international institutions and companies. Al-Mudaifer pointed to Saudi professionals working in prestigious US hospitals such as the Mayo Clinic and Cleveland Clinic, as well as global technology firms including Tesla and Meta.

To support continuous upskilling, the program is also investing heavily in lifelong learning. More than 2 million Saudi citizens now receive training each year, both domestically and overseas, as rapid technological change reshapes the global labor market.

“With the emergence of intelligent technologies, especially artificial intelligence, we need to make sure the Saudi workforce is always up to date with the requirements of local and global employers,” he said.

Among recent initiatives is the launch of a platform which offers short, six-to seven-week micro and nano degrees in fields relevant to the Saudi labor market.

The courses are accredited by employers and international training bodies, providing fast-track pathways into employment.

Entrepreneurship is another priority area, particularly in technology. In partnership with the Ministry of Communications and Information Technology, the program has launched initiatives that send Saudi tech founders to global innovation hubs such as Silicon Valley and Berlin for intensive boot camps and growth programs.

Al-Mudaifer said that Saudi Arabia’s progress is rooted in global collaboration rather than isolation.

“There is no leader alone,” he added, highlighting that the Kingdom works closely with international partners and convenes global experts annually at the Human Capability Initiative Conference in Riyadh to shape the future of human development.