‘Unlock the full potential of human capital by making healthcare an utmost priority,’ Saudi minister tells WEF

Opened by Saudi Minister of Economy and Planning Faisal Alibrahim, the panel on Monday was moderated by Faisal Abbas, editor-in-chief of Arab News, and featured health experts Dr. Sania Nishtar, CEO of Gavi, the Vaccine Alliance; Sir Jeremy Farrar, chief scientist at WHO; Rayan Fayez, deputy CEO of NEOM; and Dr. Nouf Al-Numair, secretary-general of the Saudi Ministerial Committee for Health in All Policies. (Supplied)
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Updated 21 January 2025
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‘Unlock the full potential of human capital by making healthcare an utmost priority,’ Saudi minister tells WEF

  • Faisal Alibrahim said healthy, resilient and productive human capital is the backbone of economic vitality
  • Participating in a session at Saudi House, he said health was a major part of Saudi Arabia’s Vision 2030 agenda

DUBAI: Healthy, resilient, and productive human capital is the backbone of economic vitality, Faisal Alibrahim, the Saudi minister of economy and planning, told a panel discussion at the World Economic Forum in Davos on Monday.

“However, we see an interesting story where we invest billions in energy, education and other solutions, but the investments in healthcare seem to be taking a second priority,” he added.

Part of Saudi House, a centralized hub serving as a meeting point for government officials, business leaders and other stakeholders at the forum, the panel was moderated by Faisal J. Abbas, editor-in-chief of Arab News.

It featured health experts such as Dr. Sania Nishtar, CEO of Gavi, the Vaccine Alliance; Sir Jeremy Farrar, chief scientist at the World Health Organization; Rayan Fayez, deputy CEO of NEOM; and Dr. Nouf Al-Numair, secretary-general of the Saudi Ministerial Committee for Health in All Policies.

Alibrahim said health was a major part of Saudi Arabia’s Vision 2030 agenda and it was “important for us to unlock the full potential of human capital in the Kingdom by making healthcare our utmost priority.”

Al-Numair said: “Saudi Arabia has taken concrete and very clear steps to adopt health in all policies.”

The initiative started “by issuing a royal decree that puts public health as a priority in all laws and regulations to prevent diseases and to increase the life expectancy of our population,” she added.

One of the committee’s policies is reducing the amount of salt and bread in foods, aimed at curbing hypertension, which affects cardiovascular health and, in turn, mortality.

“Eventually, (this) will increase the life expectancy in our population, so we have a clear understanding of what success looks like, which is linked to certain KPIs,” said Al-Numair.

A significant part of health is prevention and one of the most important tools for prevention is vaccination, Nishtar told the panel.

Although “there is a lobby of naysayers,” she added that her experience across countries has been varied with some showing a strong demand for vaccines.

“We are looking at our resource envelope, and we’re trying to raise more money, because the demand (for vaccines) from countries is so huge,” she said.

The WHO’s Sir Farrar called for a more horizontal structure with health and science built into different verticals — such as education and transport — along with a “governance structure, which ensures an inclusive voice for every ministry and every constituency.”

“Then, you have the opportunity to not have health as seen through the lens, frankly, of illness, but to have health seen through the lens of well-being,” he said.

He also asserted the need for countries to be able to adopt such a structure “either to address inequalities within the countries or inequalities between the countries.”

Health and well-being are a core part of the 15 sectors NEOM has identified as the “economic engines” of the futuristic city, said Fayez.

He said: “A lot of people hear about NEOM as this mega project or giga project, but it’s important to highlight that it is not the real estate or the infrastructure alone that makes NEOM.”

He explained that NEOM’s healthcare strategy is driven by four principles — prevention when possible, world-class treatment when needed, use of technology and sharing with the globe.


Closing Bell: Saudi main market edges up to close at 11,216.9

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Closing Bell: Saudi main market edges up to close at 11,216.9

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, closing at 11,216.93, up 28.20 points, or 0.25 percent.

The MSCI Tadawul 30 Index also advanced, finishing at 1,512.99, a gain of 0.29 percent, while the parallel market index, Nomu, inched up 0.09 percent to 23,887.01.

Trading activity was robust, with a total of 150.4 million shares changing hands and an aggregate value of SR3.3 billion ($880.2 million).

Among the top gainers, Zahrat Al Waha for Trading Co. surged 7.05 percent to SR2.58. The Mediterranean and Gulf Cooperative Insurance & Reinsurance Co. rose 5.26 percent to SR15.82, and Jahez International Co. for Information System Technology increased 4.68 percent to SR14.09.

Saudi Real Estate Co. added 4.47 percent to SR14.48, while Arabian Shield Cooperative Insurance Co. gained 4.3 percent to SR12.12.

On the other hand, Abdullah Saad Mohammed Abo Moati for Bookstores Co. fell 3.55 percent to SR44, and The Company for Cooperative Insurance dropped 2.92 percent to SR133.

Canadian Medical Center Co. eased 2.69 percent to SR6.15, Ataa Educational Co. declined 2.61 percent to SR52.15, and ADES Holding Co. finished 2.5 percent lower at SR18.31.

Meanwhile, Saudi Aramco Base Oil Co. announced that its board of directors has recommended distributing cash dividends for the second half of 2025.

The proposed payout is SR3.5 per share, bringing total dividends for the year to SR4.5 per share, representing around 70 percent of free cash flow in line with the company’s performance-linked dividend policy.

The total amount to be distributed for the second half stands at SR589.9 million, covering 168.2 million eligible shares.

Eligibility will be determined at the close of trading on the day of the company’s general assembly, with the distribution date to be announced later. Luberef shares last traded at SR105.5, up 3.53 percent.

Separately, the Capital Market Authority revealed that it has licensed Lesha Capital to conduct investment management and fund operations in the securities business, following the company’s completion of all required business registrations.