DAVOS, SWITZERLAND -- Announced by His Excellency Faisal F. Alibrahim, Minister of Economy and Planning, and Børge Brende, World Economic Forum President, at the 54th Annual Meeting of the WEF in Davos, Switzerland, the new event is part of a landmark agreement between Saudi Arabia and the Forum.

The gathering will convene more than 700 global leaders from the public and private sector, international organizations, non-governmental organizations (NGOs), academia and civil society to foster dialogues between countries to revive international cooperation and address current challenges to growth and development.

Announcing the event, His Excellency Alibrahim said: “The Kingdom of Saudi Arabia and Riyadh is becoming a global capital for progress and thought leadership on the critical topics of our time.

The World Economic Forum Special Meeting in Riyadh will focus on global collaboration, growth, and energy. We believe this new platform will enable the World Economic Forum, the Kingdom, and our global partners to further engage in cooperative dialogues and find the right answers to the challenges we have at hand.”

Børge Brende, President of the WEF, remarked, “At a time of growing divides between developed and emerging economies, there is a pressing need to not only identify areas of shared interests but foster new, impactful partnerships.

As a critical player at the intersection of many of the world’s economies, Saudi Arabia is uniquely positioned to work alongside both developed and developing markets to foster cooperation between the two, and help them reach their long-term commerce, energy, and finance goals.”

Being hosted in Riyadh, the capital of the largest economy in the Middle East, a world-leading hub between Asia, Africa and Europe, and a midway point between the Global South and the Global North, the WEF Special Meeting will provide a platform for global leaders to assess current challenges and propose transformative ideas to create a positive global impact.

Following Saudi Arabia’s presidency of the G20 in 2020, and building on the long-standing partnership between Saudi Arabia and the World Economic Forum, this latest collaboration underscores the Kingdom’s commitment to continue shaping the future agenda, fostering international cooperation, and addressing global challenges.