Riyadh Economic Forum opens today under king’s patronage

The 12th Riyadh Economic Forum commenced its proceedings on Monday, inaugurated by Prince Faisal bin Bandar bin Abdulaziz, the Governor of Riyadh and honorary president of the event. The forum, under the patronage of King Salman bin Abdulaziz, brought together a diverse assembly of officials, experts, and representatives from both the public and private sectors.

The discussions centered around five key studies examining critical economic and development challenges. These studies delved into the application of smart agriculture technologies and artificial intelligence to bolster food and water security in Saudi Arabia. They also explored strategies for transferring and localizing knowledge and expertise among local talent, aiming to enhance the performance and efficiency of Saudi organizations.

Another study scrutinized the causes and consequences of traffic congestion in major cities, analyzing its economic, social, and environmental impacts. It proposed potential solutions to improve urban transport efficiency. Furthermore, the forum addressed methods to gauge the impact of legislation and public policies in fostering sustainable development and aligning with Vision 2030. This involved creating tools to evaluate policy effectiveness and promote evidence-based decision-making.

The fifth study centered on capitalizing on the economic and social benefits of Saudi Arabia's hosting of Expo 2030 and the 2034 FIFA World Cup. It aimed to transform these global events into avenues for boosting investment, fostering local content, and driving economic diversification. The study also sought to maximize opportunities for the private sector during these high-visibility occasions.

Established in 2003, the Riyadh Economic Forum has consistently tackled economic and development issues through specialized studies and the active participation of its esteemed attendees. The outcomes of its previous sessions have yielded recommendations and initiatives, leading to decisions that bolster development and solidify the forum's role as a vital platform for dialogue among stakeholders in the national economy.