Saudi Arabia is Determined to Cooperate with International Partners to Achieve Sustainable Development Goals, Says Economy Minister

Minister of Economy and Planning Faisal Alibrahim affirmed that the Kingdom of Saudi Arabia’s efforts in international forums and its role as an effective partner in the G20 have contributed to developing policies and programs that help enhance global economic stability and reduce development gaps between countries.
In a statement to the Saudi Press Agency (SPA) on the occasion of the G20 Leaders’ Summit, held on November 18-19, Alibrahim said that the G20 countries share development visions and aspirations, and that member states endeavor to increase international cooperation and build strategic partnerships that contribute to achieving the sustainable development goals at regional and international levels.
The group also seeks to use member countries’ expertise and experience in various fields when setting the agenda of the G20 Leaders’ Summit every year, to urgently respond to accelerating global challenges and provide innovative solutions that contribute to enhancing the well-being of individuals and societies.
Alibrahim pointed out, in his statement, that the Development Working Group focused during the Brazilian presidency in 2024 on addressing the most prominent global issues and challenges facing developing countries, most notably reducing gender inequality, and ensuring the provision of water and basic services, adding that the Kingdom was keen to present a balanced approach that seeks to provide the necessary means of support to help developing countries advance and build their economic and social capabilities, and achieve equal opportunity.
Alibrahim stressed that empowering women is one of the most prominent achievements of the Kingdom, which strives to achieve gender equality and equal opportunity, and pointed to the concerted efforts in the Kingdom to create a supportive and enabling environment through regulatory and procedural reforms, and innovative programs, adding that labor market statistics indicate a 34.6% increase in the rate of women participation in the Kingdom’s workforce by the end of the fourth quarter of 2023, and that they made up 42.3% of the middle management in 2023.
Alibrahim said that the Kingdom is committed to activating the G20 dialogue on water issues, which was launched under the Kingdom’s G20 Presidency in 2020, pointing to the Kingdom’s efforts to support environmental initiatives and employ technology, research, and innovation in the water sector, citing the Global Water Organization initiative that was launched by His Royal Highness the Crown Prince last year.
Alibrahim praised the Brazilian presidency’s proposal, which included a comprehensive approach based on national, financial, and knowledge pillars, which highlighted the need to enact evidence-based policies, develop innovative financial solutions, and have countries share best practices, based on proactive policies and measures.
The Kingdom has also worked on a number of structural reforms that have had a positive impact on its fiscal and monetary policies, targeted social support and subsidy programs, and active investment strategies. It seeks to increase international cooperation and build global partnerships, said Alibrahim, mentioning its investment in the Brazilian food company BRF, a global company concerned with the environment, social development, and sustainable consumption, and its partnership with the World Economic Forum’s open innovation platform Uplink, which aims to increase commitment to environmental regulations, adopt environmentally friendly practices, and invest in innovative technologies to address sustainable development challenges.
Minister Alibrahim stressed that the Kingdom is moving with determination and confidence on its path toward building a prosperous and sustainable economy capable of facing global challenges, and contributing to achieving sustainable development, in cooperation with its international partners.