Minister Of Commerce Discusses Saudi Vision 2030 At UNCTAD Session With Global Leaders

Dr. Majid Al-Kassabi, Minister of Commerce and Chairman of the National Competitiveness Center Board, highlighted the transformative role of Saudi Vision 2030 at the 16th session of the United Nations Conference on Trade and Development (UNCTAD). He stated that this vision, initiated by Crown Prince Mohammed bin Salman, has significantly altered Saudi Arabia's economic landscape. The conference is taking place in Geneva until the 23rd of this month under the theme "Shaping the future: driving economic transformation for equitable, inclusive, and sustainable development."

During a ministerial roundtable titled "Making the digital economy inclusive and sustainable through cooperation," Al-Kassabi emphasised Vision 2030's influence on Saudi Arabia's digital economy. The session was moderated by journalist Isabelle Kumar and attended by Ambassador Abdulmohsen bin Khothaila, Saudi Arabia's permanent representative to the United Nations in Geneva. Participants included Zimbabwean Finance Minister Dr. Mthuli Ncube, Swiss State Secretary Helene Budliger Artieda, and UN Industrial Development Organization Director-General Gerd Müller.

Al-Kassabi explained that Vision 2030 offers a comprehensive framework for ongoing reform. This has led to updated legislation and digitalisation of numerous procedures. As a result, private sector contributions have increased to nearly half of the GDP, with the digital economy accounting for 16% of it. He noted that the Saudi Business Center has played a crucial role in enhancing the business environment, especially in e-commerce.

The session also addressed key topics such as inclusivity and sustainability within the digital economy. It stressed strengthening international cooperation and UNCTAD's role in shaping policies related to data governance and an inclusive digital economy. UNCTAD aims to help countries build resilient digital ecosystems that bridge divides, improve data governance, foster innovation, and support circular economies.

Al-Kassabi held meetings with several ministers and international officials to strengthen economic cooperation and facilitate trade. These included discussions with Omani Minister Qais bin Mohammed Al-Yousef, Iraqi Minister Atheer Al-Ghrairi, Egyptian Finance Minister Ahmed Kouchouk, Costa Rican Foreign Affairs Minister Dr. Arnoldo André Tinoco, Moroccan Industry Minister Ryad Mezzour, Qatari Foreign Trade Affairs Minister Dr. Ahmed bin Mohammed Al-Sayed, and Algerian Trade Minister Dr. Kamel Rezig.

Meetings with Global Leaders

In addition to these meetings, Al-Kassabi met with World Trade Organization Director-General Dr. Ngozi Okonjo-Iweala and UNCTAD Secretary-General Rebeca Grynspan. These discussions focused on enhancing economic collaboration between nations and addressing global trade challenges.

The event gathered high-level governmental representation from around the world. It included 60 ministers and 40 deputy ministers from 195 countries. This diverse participation underscores the importance of international dialogue in shaping future economic policies.

The Kingdom aims to make its digital economy accessible to entrepreneurs as part of its broader economic transformation goals under Vision 2030. By fostering an inclusive digital landscape, Saudi Arabia seeks to drive sustainable growth while ensuring equitable opportunities for all participants.

With inputs from SPA