Saudi Arabia's Crown Prince, Mohammad bin Salman, addressed a dialogue session at the World Economic Forum in Riyadh, emphasizing the Kingdom's role in working towards global growth, energy, and cooperation. He highlighted Saudi Arabia's importance as a global economic center in the Middle East region and the need for continued collaboration with international partners to achieve global economic stability. The Crown Prince discussed the challenges facing the world regarding economic and geopolitical instability and the role Saudi Arabia is playing in building a stronger and more sustainable global system. He emphasized the country's commitment to innovation, energy security, and direct investment in supporting global economic and financial stability. The Crown Prince explained how Saudi Arabia's Vision 2030 initiative is leading to a significant transformation of the economy, allowing for greater diversification and growth opportunities. He discussed reforms in the private sector and the significant increase in non-oil GDP, which accounted for more than 50% of the total GDP in 2023. He emphasized the importance of continued investment in research and development to enable the growth of national companies and boost economic growth. The Crown Prince also touched upon the improvement in the quality of life and social development, including the increase in women's participation in the workforce since 2016. He emphasized that Vision 2030 is an ongoing process, not a final destination, and called for continued collaboration and growth with international partners. Overall, the Crown Prince's speech at the World Economic Forum highlighted Saudi Arabia's significant role in building a more sustainable global economic system and its commitment to continued growth and innovation.
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