Economic growth and resilience at heart of 2nd AlUla Emerging Market Economies Conference

A panel held during the inaugural AlUla Conference for Emerging Market Economies. (AlUlaeme/File Photo)
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Updated 03 February 2026
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Economic growth and resilience at heart of 2nd AlUla Emerging Market Economies Conference

  • Event on Feb. 8 and 9 will bring together ministers, governors of central banks, policymakers, economic experts and international financial institutions
  • Emerging-market economies a ‘pivotal element’ in global economic system due to effect they have on growth and stability, says Saudi Finance Minister Mohammed Al-Jadaan

RIYADH: The second annual AlUla Conference for Emerging Market Economies, which Saudi Arabia will host next week, offers a platform to exchange views on global developments and discuss policies and reforms that support inclusive growth and strengthen economic resilience, the Kingdom’s finance minister said.

The event on Feb. 8 and 9 will bring together finance ministers, governors of central banks and policymakers, alongside economic experts and representatives of international financial institutions.

Organized by the Saudi Ministry of Finance in partnership with the International Monetary Fund, it takes place as emerging-market economies face mounting challenges amid rapid global economic change.

Finance Minister Mohammed Al-Jadaan said the decision to host the conference reflects Saudi Arabia’s ongoing commitment to efforts that support global financial and economic stability, and highlights the growing influence of emerging economies on worldwide growth.

Emerging-market economies represent a “pivotal element” in the global economic system due to the direct impact they have on economic growth and stability, he added.

“The AlUla Conference for Emerging Market Economies provides a unique platform for exchanging views on global economic developments, and discussing policies and reforms that will support inclusive growth and enhance economic resilience, in light of broader international cooperation that contributes to confronting common challenges,” Al-Jadaan said.

Kristalina Georgieva, managing director of the IMF, said the event would help emerging economies deal with growing uncertainty driven by technological change, demographic shifts and geopolitical tensions.

“The AlUla conference provides a vital platform for emerging economies to discuss how they can navigate the risks and embrace the opportunities ahead,” she said.

“In these times of sweeping transformations in the global economy, policymakers face a more challenging and uncertain environment. Countries should work together to strengthen resilience through sound macroeconomic and financial policies.”


Saudi Arabia, Estonia strengthen cyber defense cooperation

Updated 09 February 2026
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Saudi Arabia, Estonia strengthen cyber defense cooperation

  • Renowned for its leadership in digital governance, Estonia sees cybersecurity as central to its partnership potential with Saudi Arabia, building on years of regional engagement through its technology firms

RIYADH: Estonia aims to deepen defense, cybersecurity, and artificial intelligence cooperation with Saudi Arabia as both nations look to advance technology‑driven defense and cybersecurity capabilities.

Hanno Pevkur, Estonia’s minister of defense, told Arab News at the World Defense Show in Riyadh on Monday that Estonia’s defense industry is eager to contribute to the Kingdom’s fast‑growing defense ecosystem.

“In the modern world, cooperation built on trust and technology is the best defense,” he said. “It is important for us to be here because we clearly see there is a possibility to increase cooperation, not only bilaterally between Saudi Arabia and Estonia, but across the region.”

At Estonia’s pavilion, a cooperation agreement was signed between an Estonian company and a Saudi firm during the show, he noted.

Pevkur also said Estonia’s defense sector has expanded rapidly in recent years, driven by technological innovation and partnership.

“Our defense industry is growing very rapidly, and we continue to see strong momentum,” he said.

He said Estonia’s strengths lie in digital and smart‑system integration rather than large‑scale weapons production.

“We will not build airplanes or tanks, but what we can do is integrate robotics, automation and drones to make existing systems smarter,” he said.

The minister said effective defense collaboration must link businesses and governments to achieve meaningful results.

“When we want to have real cooperation, we need it on all levels,” he said. “The biggest client for any defense company is the government, so we must treat this as one ecosystem where the public and private sectors work hand in hand.”

Renowned for its leadership in digital governance, Estonia sees cybersecurity as central to its partnership potential with Saudi Arabia, building on years of regional engagement through its technology firms.

Pevkur said several Estonian companies, including Nortal, have already assisted Gulf governments in developing open IT and digital‑service systems.

“As the most digitalized nation in the world, almost every service in Estonia can be done online, except getting married,” he said. “But with such digitalization, we also need strong cyberdefense.”

He said data protection and digital resilience are treated as matters of national sovereignty in Tallinn, the capital of Estonia.

“Data is what we own. When someone steals that data, it becomes a serious threat,” he added. “That is why cyberdefense is not just about technology, it is about trust, sovereignty and protection.”

Pevkur said Saudi Arabia’s advances in AI offer promising opportunities for collaboration.

“I know that Saudi Arabia is doing great work when it comes to AI,” he said. “For us, as a small country with limited human resources, AI is essential not just for defense but for everyday life.”

Pevkur added that Estonia has launched a national AI strategy to promote responsible development and closer coordination between government and industry. One Estonian company, he said, has developed a system that allows a single operator to control hundreds of drones through AI.

“It is quite easy to put a weapon into the hands of a robot, but we also need to define who is accountable for its actions,” he said.

“The big question for the future is whether we can allow a war to be fought entirely by AI, or if humans must always make the final ethical decisions.”

He said in his conclusion that governments must reach a common understanding on how AI will be used and regulated on the battlefield.