The world's most powerful leaders were at Davos 2018 for an annual four-day elite conference
known as the World Economic Forum.
A global political get-together for around 2,500 movers and shakers from the worlds of business, politics, finance and media, the World Economic Forum is held annually each year in the town of Davos.
The mountain resort sits high up in the eastern Alps of Switzerland in Graubunden, the largest and and most eastern member state of the country.
Davos 2018 under the theme of "Creating a Shared Future in a Fractured World" and it was the the 48th forum to date.
As we know, the Kingdom of Saudi Arabia is blessed with many rich assets. The geographic, cultural, social, and economic advantages have enabled us to take a leading position in the world.
The aims and progress of Saudi Arabia’s Vision 2030 programme of social and economic reforms were discussed in a wide-ranging talk. The conversation looked at topics including the impact on jobs, women and the reduction in corruption and government bureaucracy
A roundtable discussion included Princess Reema Bint Bandar Al-Saud, Vice-President for Development and Planning at Saudi Arabian General Sports Authority, Mohammed Al-Jadaan, Saudi Arabia’s Minister of Finance, Majid Al-Kasabi, Saudi Arabia’s Minister of Commerce and Investment, Stephen Schwarzman, Chief Executive and Co-founder of Blackstone and Mohammad Al Tuwaijri, Minister of Economy and Planning of Saudi Arabia.
Mohammed Al-Jadaan reiterated that Vision 2030 will reform and diversify the economy to liberate the country from its dependence on government spending and instead gain income from areas such as entertainment and tourism. It also is reforming socially, legally and culturally.
He stressed that the project had brought more alignment within the government: "We have one target and we know where we are going".
Princess Reema Bint Bandar Al-Saud said "improvements around sports, culture and entertainment have a positive impact on the quality of people’s lives as well as economically".
"Those three creative industries will thrive, add economic impact, job creation, training, so much value that’s not just for women," she said.
Majid Al-Kasabi explained how Saudi Arabia was creating a better "investment ecosystem", including creating laws around bankruptcy, mortgage pledges and franchising. Moves to make doing business easier by cutting down on government bureaucracy have been made and 2018’s budget is the highest ever, with a weighty allocation set aside for the private sector.
People should "absolutely not" be worried about what could happen to them if they travel and invest in Saudi Arabia, Al-Jadaan clarified. "We are creating a level playing field, encouraging investors to come and telling them it will be your quality and your price that will determine whether you are successful or not, and nothing else".
Mohammad Al-Tuwaijri acknowledged that Vision 2030 was an ambitious plan and that the Kingdom was aware the eyes of the world are on them during this process. He said that the plan was "a top down choice, but designed bottom up" to ensure it works for the people of Saudi Arabia.
MiSK Foundation also hosted a special panel discussion on how "youth are shaping a fractured world".
The panel discussion saw Saudi Energy Minister Khalid Al-Falih discuss the topic with Carlyle Group CEO David Rubenstein, WPP Founder Martin Sorrell, Boston Consulting Group’s Partner and Managing Director Leila Hoteit, SonaSola Founder Sona Mirzoyan. The session was moderated by CNN’s Richard Quest.
The panel discussion covered a wide range of topics including employment and job creation, the changing economy, government and leadership and global engagement.
WEF’s mission statement said it is "committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas" More significant stories from Davos 2018, Trump at Davos: Trade, taxes and what America First really means
"America First does not mean America alone," US President Donald Trump said in his speech. The state of the US economy featured highly in the President's speech. "After years of stagnation, the United States is once again experiencing strong economic growth," he said. "The stock market is smashing one record after another, and has added more than $7 trillion in new wealth since my election." "The world is witnessing the resurgence of a strong and prosperous America... America is open for business." Trump also spoke in depth about recent reforms to the US tax code, jobs, security, immigration, and why "America First does not mean America alone." "I will always put America First. Just like the leaders of other countries should put their countries first," he said. "When the United States grows, so does the world. American prosperity has created countless jobs around the globe and the drive for excellence, creativity and innovation in the United States has led to important discoveries that help people everywhere live more prosperous and healthier lives." Malala: We need to teach boys to be men
The education of young men on the subject of women’s rights is a crucial step to ending gender inequality, Malala Yousafzai said during her session. “When we talk about feminism and women’s rights, we’re actually addressing men,” she said. “Men have a big role to play … We have to teach young boys how to be men. In order to be a man you have to recognize that all women and all those around you have equal rights and that you are part of this movement for equality.” “I can’t send all girls to school, that would be impossible,” Malala went on to say. Educating girls is a collective responsibility, and we all must realize that we have a role to play, including world leaders. “I haven’t met a single prime minister who would not send their own children to school,” she said. “All of them send their children to school, their children go to university, they do not need any explanation as to how important education is. But when it comes to the rest of the world’s children, they struggle a bit. So you have to keep on reminding them.”