The Kingdom of Saudi Arabia, during its participation in the annual meetings of the World Economic Forum (WEF) in Davos, Switzerland, has embarked on a journey marked by numerous achievements, agreements, partnerships, and initiatives, whether in economy, technology, environment, society or industry.
The Kingdom's efforts to support regional and international stability, especially in the stability of energy markets, and to enhance the balance between the interests of energy-producing and consuming countries, play an effective role during its presence at international forums, as its voice is the main driver in supporting international efforts to maintain a balance in the stability of the energy sector.
It also seeks global leadership in the production of clean energy through the framework of the circular carbon economy amid the global shift toward sustainability.
In 2018, the Kingdom participated in the 48th annual meeting of the WEF, held under the theme “Creating a Shared Future in a Fractured World,” with a high-level delegation, and the King Khalid Foundation was able to join as an affiliate partner of the forum for its pioneering contributions to non-profit organizations.
In 2019, during the annual meeting, Saudi Aramco’s Uthmaniyah Gas Plant (UGP) was recognized by the WEF as a “Lighthouse” manufacturing facility, a leader in technology applications of the Fourth Industrial Revolution.
This recognition confirms the success and technical leadership of Saudi Aramco, the first company in the world in the oil and natural gas sector to join the list and the first in the Middle East to be recognized by the WEF.
As part of the forum’s 2019 annual meeting, a memorandum of understanding was signed between Saudi Arabia and the WEF to establish a Center for the Fourth Industrial Revolution (C4IR) in Saudi Arabia, focusing on public-private partnerships and major initiatives in energy, health, and financial systems.