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Her Royal Highness Ambassador Reema Bandar Al-Saud, Ambassador of the Kingdom of Saudi Arabia to the United States of America, announced at the World Economic Forum Annual Meeting that Saudi Arabia will host the first Global Coral Reef Summit in 2026 (Photo: AETOSWire)

Her Royal Highness Ambassador Reema Bandar Al-Saud, Ambassador of the Kingdom of Saudi Arabia to the United States of America, announced that Saudi Arabia will host the first Global Coral Reef Summit in 2026, bringing together global leaders, scientists, and investors to drive solutions for the protection and recovery of coral reef ecosystems.

The summit will address key challenges and policy and regulatory gaps, develop science-based solutions, and advance sustainable financing and investment mechanisms to scale coral reef protection and recovery.

Building on the call for constructive dialogue in an era of fragmentation, His Excellency Ahmed A. Alkhateeb, Minister of Tourism, said: "Tourism brings peace at a time when it's needed - connecting people and encouraging dialogue. Tourism growth is good for peace, it's good for people, good for youth, and good for women."

On the Kingdom's ambitions to become a global hub for AI, His Excellency Abdullah A. Alswaha, Minister of Communications and Information Technology, commented: "Saudi Vision 2030 was about economic diversification and empowering youth. Fast forward to today and we've achieved 56% non-oil contribution to GDP, and in terms of talent and youth, our tech force has increased dramatically."

Earlier in the day, HUMAIN and the National Infrastructure Fund ("Infra") announced a Strategic Financing Framework Agreement of up to $1.2 billion to support the expansion of AI and digital infrastructure projects in the Kingdom. The agreement outlines non-binding financing terms for HUMAIN's development of up to 250 MW of hyperscale AI data center capacity.

The United Nations Convention to Combat Desertification (UNCCD) COP16 Presidency also launched the Business4Land (B4L) Champions' Council. This high-level coalition brings together CEOs, sustainability leaders, investors, and policymakers to accelerate land restoration, combat land degradation, and strengthen drought resilience.

The Ministry of Industry and Mineral Resources (MIM), in collaboration with WEF, announced the Lighthouse Operating System, a country-level framework designed to accelerate manufacturing transformation. Developed in partnership with WEF's Advanced Manufacturing and Production Centre (AMPC), this initiative aims to diversify the Kingdom's economy, build robust non-oil industries, and position Saudi Arabia as a global hub for advanced manufacturing and logistics.

MIM and WEF announced a cooperation agreement on the sidelines of the Future Minerals Forum, which took place the week before the WEF Annual Meeting. The agreement runs until September 2027 and aims to unify efforts to strengthen partnerships around critical minerals required for energy and other technologies, contributing to the assurance of resilient, sustainable, and responsible mineral supplies aligned with industrial objectives and the energy transition. According to the agreement, the initiative will be overseen by a joint executive committee comprising representatives from the ministry and WEF.

*Source:AETOSWire

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