Saudi Minister of Economy and Planning Participates in the Saudi Green Initiative Forum at COP28
- Ministry news
- 04 Dec 2023
- 2 minute to read
The Saudi Minister of Economy and Planning His Excellency Faisal bin Fadhil participates in the 2023 United Nations Climate Change Conference (COP28), where global leaders convened in the United Arab Emirates for critical climate negotiations.
His Excellency Saudi Minister of Economy and Planning, Faisal bin Fadhil Alibrahim, participated in a fireside chat titled 'Unlocking the Fiscal Space to Finance Climate Action' alongside Her Excellency Dilma Rousseff, President of New Development Bank. The session focused on the importance of high-impact investments in promoting long-term, comprehensive growth and supporting innovative methods to address climate change.
During the session, His Excellency Alibrahim said “our growth rates have grown 50% during Vision 2030 versus before Vision 2030. Our non-oil economy, has grown 20% since the start of Vision 2030."
He also highlighted the importance of institutional capabilities saying “the more educated, the people, the stronger our institutions are in terms of their ability to push the right policy, and react to the right change in environment."
Speaking on Saudi Vision 2030, HE Alibrahim also said “Vision 2030 was our blueprint to diversify our economy, empower the youth and build stronger institutions."
The Ministry of Economy and Planning's participation at COP28 aligns with the Kingdom's substantial strides in achieving SDGs, demonstrating that economic development can occur responsibly, prioritizing the environment and sowing the seeds for positive and inclusive economic growth in the decades ahead.
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