(MENAFN- Saudi Press Agency) Washington, March 31, 2023, SPA – The Global PRIORITY Summit, organized by the Future Investment Initiative (FII) Institute, began tonight in the American city of Miami with the participation of around 80 leading figures from all over the world to discuss the major priorities of all segments of the society during the current international circumstances.
Participants in the two-day summit, are set to discuss the social, economic, and geopolitical transformations over ten-panel sessions to formulate a roadmap to overcome the world's most pressing challenges.
Participating in the summit, the Governor of the Public Investment Fund (PIF) of the Kingdom of Saudi Arabia, Yasir Al-Rumayyan, explained that the Kingdom has carried out a comprehensive diagnosis and study of the Saudi economy, which included comparisons with other economies, employing in that endeavor the best expertise and performance indicators to achieve the targeted objectives.
Citing the International Monetary Fund's forecasts, he said the Saudi economy was expected to grow by 7.5 percent, the highest growth among developing countries. Still, it exceeded the forecast, cut down unemployment rates from 13 percent to nine percent, and created half a million job opportunities, with targets set to double the number to 1.5 million by 2025.
He also said that the Kingdom has all the capabilities to realize the Saudi Vision 2023, be they the financial and human resources, adding that PIF was managing assets valuing $150 billion in 2015. Still, it now has around $650 billion, and it targets increasing the value of its assets to $1 trillion in 2025 and between $2-3 trillion by 2030.
The governor also indicated that the fund is the world's largest investor in renewable energy and green hydrogen. It works within the national objectives and the Saudi climate action, which seeks to reach net zero emissions by 2050.
Princess Reema bint Bandar bin Sultan Al Saud, the Saudi Ambassador to the United States, underlined the active participation of the Saudi youth in the Saudi Vision 2030, which seeks to create opportunities for all segments of society, especially the youth.
She also explained that the government of the Custodian of the Two Holy Mosques and HRH the Crown Prince is building a pioneering education track and has allocated considerable budgets to invest in the youth and enhance their participation and engagement in the development endeavor.
Held under the theme,“A Roadmap for Humanity in Challenging Times,” PRIORITY 2023 brings together people from all walks of life to discuss the highest priority for each segment of society as the world goes through extraordinary social, economic and geopolitical changes.
--SPA
04:11 LOCAL TIME 01:11 GMT
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