His Highness Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs, today took part in a discussion on the sidelines of the World Economic Forum on the theme: “A bright future amidst geopolitical challenges.” This is very important for the Kingdom. , and that stability is the absolute key to energy security, praising the successes of OPEC and OPEC+ as an example, and that they have contributed to a relatively stable oil price, which is a price that both consumers and producers can predict. , and that some other energy sources are facing big problems. Despite this, the Kingdom and the rest of the members remain committed to achieving stability.
His Highness has made it clear that the Kingdom of Saudi Arabia is committed to a clean energy future, indicating that the only way to move towards a clean energy future without touching common global issues and continue on the path to prosperity is if a certain level of stability and predictability can be guaranteed in supply.Conventional energy sources in the renewable energy investment phase, indicating that the Kingdom has invested about $200 billion in the dissemination of renewable energy sources inside and outside the Kingdom, and that Saudi companies are operating in about 21 countries around the world through the use of solar energy, energy wind and other renewable energy sources, but it could take decades for the developing world to have enough power to replace traditional energy fuels.
His Highness indicated that the Kingdom’s economy will be the fastest growing economy in the world this year thanks to a very ambitious reform program, which is the Kingdom Vision 2030, which has succeeded in moving the economy significantly away from hydrocarbon dependence. in addition to the increase in non-oil revenues in gross domestic product, and this process continues.
His Highness the Minister for Foreign Affairs said that the Kingdom is active in all areas of the economy and that the unemployment rate has been significantly reduced due to the participation of the labor force at the present time, especially among women, which shows that even in the light of the conditions the world is going through, this may be a successful model.
Speaking about relations with Iran, His Highness said: “We have been in contact with them and are trying to find a way to dialogue with our neighbors in Iran because we firmly believe that dialogue is the best way to resolve differences, and we also strongly believe that that what we are doing in the Kingdom and what others are doing in the region, especially the countries of the Gulf Cooperation Council, facing economic problems and investing in their countries, focusing on development, is a strong sign for Iran and other countries in region that there is a way to overcome traditional conflicts on the way to shared prosperity.
