Arab Press

بالشعب و للشعب
Friday, Aug 22, 2025

Al-Ibrahim: Kingdom an economic power that supports strategic partnerships

Al-Ibrahim: Kingdom an economic power that supports strategic partnerships

The Minister of Economy and Planning Faisal Bin Fadel Al-Ibrahim has affirmed that Saudi Arabia is one of the most important economic powers in the world and contributes to achieving sustainable economic growth, protecting the global economy to confront climate change and empowering people to shape promising future prospects.
In a statement to the Saudi Press Agency (SPA) on the occasion of the Kingdom's participation in the G20 Leaders' Summit in Italy, he said, "The Kingdom continues its pioneering role in expanding international cooperation and supporting strategic partnerships in a way that increases communication and activates the exchange of ideas and experiences because of its importance in drawing up policies that aim to develop effective solutions to the challenges facing the world.

“These have a direct impact on achieving the Kingdom's goals represented in Vision 2030 and enhancing its competitive capabilities.”

Al-Ibrahim addressed the ministry’s role in the work of the Development Working Group under the Italian Presidency, indicating that the ministry participated in the negotiations and conducted dialogue sessions as a member of the Troika, and completed work on the recommendations and initiatives emanating from the Kingdom’s presidency in 2020.The outputs of the Development Working Group focused on the potential of Innovative financing instruments such as blended finance mechanisms, investment guarantees, sustainable development goals, green bonds, and support for the implementation of integrated national finance frameworks (INFFs).

He noted that the work of the group highlighted the importance of cooperation between the Development Working Group and the financial track to drive sustainable development financing, based on what It was presented from works under the presidency of the Kingdom and previous presidencies, indicating that this year the Development Working Group discussed the communication between urban and rural areas and the role of intermediate cities as key actors for sustainable development and the localization of sustainable development goals.

The minister added that the Development Working Group worked to assess the roles of these actors in responding to the epidemic and addressing weaknesses to ensure a more sustainable and inclusive recovery, noting that the group also paid attention to the role of cities, the chief mediator in alleviation of poverty by strengthening rural-urban linkages, enabling rural families to diversify their sources of income, and being important as service delivery centers and the absorption of export processing areas, and as strategic locations for the development of agricultural value chains.

It is noteworthy that the minister participated in a joint ministerial meeting of foreign and development ministers within the Italian presidency of G20. The meeting focused on sustainable development goals, strengthening efforts to achieve global food security, obtaining the necessary political support to take concrete measures to confront the food crises arising from the Coronavirus pandemic, and the measures that the Group will take to support trade and investment in the world.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
×