DAVOS, Switzerland--(BUSINESS WIRE)--Jan 21, 2026--
For economies to remain competitive in the future, they must prioritize investments in human capital, Her Royal Highness Princess Reema Bandar Al-Saud, Ambassador of the Kingdom of Saudi Arabia to the United States of America, told the World Economic Forum (WEF) Annual Meeting 2026.
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Speaking on a Saudi House panel, HRH commented: “Human capital today is the key driver if you want a competitive modern economy.”
She added: “If you empower people and you give them the space to lead, they will take that drive and they will deliver. And when you place the right people in the right place at the right time, absolute magic happens. The Kingdom is the place, we have the people, and the time is now.”
His Excellency Ahmed A. Alkhateeb, Minister of Tourism, said: “We set a 2030 goal of welcoming 100 million tourists annually. We reached that target seven years early, and since 2023 we have continued to exceed it annually along with sustained growth in tourist spend year-on-year.”
His Excellency Khalid A. Alfalih, Minister of Investment, commented: “Our FDI is 5X what it was before Saudi Vision 2030; our local investors are voting with their own money, local investment has doubled, and we have reached the level of China and India in terms of capital formation as a percent of GDP.”
His Excellency Mohammed A. Aljadaan, Minister of Finance, described how Saudi Vision 2030 has provided a blueprint for credible national transformation: “True reform is not measured by speed or early wins, but by whether it becomes permanent—changing how institutions and markets behave.”
His Excellency Bandar I. Alkhorayef, Minister of Industry and Mineral Resources, said youth is a resource in short supply in developed economies, adding that the Kingdom of Saudi Arabia is “blessed with its youth”.
His Excellency Faisal F. Alibrahim, Minister of Economy and Planning said: “Moving forward towards being more resilient and more sustainable, the private sector is playing a bigger role, a co-leading role; innovation and R&D are a bigger part of our economic activity, and we’re connecting and integrating with global markets.”
The Ministry of Economy and Planning announced that it will launch the SUSTAIN Platform in beta version in 2026 during a NextOn talk at Saudi House. SUSTAIN is an AI-enabled matchmaking partnership network designed to strengthen cross-sector collaboration and accelerate the delivery of sustainable development initiatives. The platform was developed in collaboration with WEF and Bain & Company.
The Quality of Life Program Center and UN-Habitat jointly announced the outcomes of the Quality of Life Initiative, a global platform that supports a people-centered approach to urban development.
SDM announced a partnership with Weill Cornell Medicine – Cornell University, called the Frontier Science for Human Health: A Saudi–U.S. Space Research Collaboration. The agreement focuses on advancing innovative space and computational biology technologies, with a focus on space research and human health missions.
Source:AETOSWire
Her Royal Highness Princess Reema Bandar Al-Saud, Ambassador of the Kingdom of Saudi Arabia to the United States of America, speaks on human capital and youth empowerment during the opening Saudi House session at the World Economic Forum Annual Meeting 2026 (Photo: AETOSWire)
DAVOS, Switzerland (AP) — U.S. President Donald Trump will appear Wednesday with other high-profile government and business leaders at the World Economic Forum in Davos, Switzerland, a day after the elite event produced contentious statements and economic threats arising from tensions between the U.S. and Europe.
Nearly 3,000 high-level participants from 130 countries, plus an untold number of activists and observers, are expected to converge on the annual event scheduled to last through Friday for dialogue, debate and deal-making in the Alpine resort.
Trump’s third visit as president comes as U.S. allies worry about his ambition to take over Greenland, while Latin America grapples with his efforts to seize Venezuela’s oil.
European Commission President Ursula von der Leyen on Tuesday called Trump’s planned new tariffs on eight of its countries over Greenland a “mistake” and questioned Trump’s trustworthiness. French President Emmanuel Macron said the EU could retaliate by deploying one of its most powerful economic tools, known colloquially as a trade “bazooka.”
Here is the latest:
Egyptian President Abdel-Fattah el-Sissi applauded the Lebanese government’s efforts to stabilize the tiny Mediterranean country, an apparent reference to its efforts to disarm non-state groups, notably Hezbollah.
Speaking in a panel Tuesday in Davos, the Egyptian leader said Lebanon “finds find a way to achieve complete stability.”
El-Sissi also spoke about the latest development in Syria and called for the inclusion of all Syrian groups in the political process.
Swedish Prime Minister Ulf Kristersson said he “would not speculate” on whether the NATO alliance has shattered beyond repair in the wake of Trump’s threats to take over Greenland.
Sweden joined NATO in 2024.
Kristersson, speaking to the Associated Press on the sidelines of Davos, said Europeans are willing to beef up security in Greenland and across the Arctic but “we will not accept to be blackmailed.”
World markets appear to have settled for now following a sharp drop after Trump threatened to impose extra tariffs of 10%, later rising to 25%, on imports from eight European countries.
U.S. futures advanced early Wednesday and Asian markets were mixed.
European shares opened marginally lower. But the price of gold shot up nearly 2%, surpassing its past records to trade at about $4,860 a troy ounce. Precious metals tend to gain in times of global uncertainty since they are viewed as a safe haven from risk.
Egyptian President Abdel-Fattah el-Sissi on Wednesday said the Palestinian cause is still “at the forefront of priorities” in the Middle East.
He told a panel at Davos that resolving Palestinian cause “is the core of regional stability, and a cornerstone to achieve a just and comprehensive peace.”
The Egyptian leader lauded Trump’s efforts to help reach a ceasefire that stropped the Israel-Hamas war in Gaza in October.
El-Sissi also encouraged international investment in his cash-strapped nation.
The president lauded his government’s efforts to overhaul infrastructure in Egypt, which he said was aimed at drawing private sector investments.
“The environment in Egypt is very attractive,” he said during a panel discussion at Davos.
Bessent said Trump is expected to land in Switzerland about three hours after he was originally scheduled to arrive.
Trump is scheduled to speak at Davos on Wednesday in a highly anticipated address.
The Associated Press asked Bessent about the Wall Street slump on Tuesday after Trump threatened to hit eight European countries with new tariffs as tensions escalate over his attempts to assert American control over Greenland.
The losses were widespread, with nearly every sector losing ground. Major indexes in the U.S. extended losses from last week in what has been a wobbly start to the year.
The S&P 500 fell 143.15 points, or 2.1%, to 6,796.86. It is the steepest drop for the benchmark index since October.
Bessent said he is not concerned.
U.S. Secretary Treasury Scott Bessent on Wednesday decried Europe’s “anger” and “bitterness” over Trump’s tariff threat.
Bessent urged the European Union to wait for Trump to arrive in Davos. He said he believes Europeans will be persuaded to support Trump’s concerns about Greenland once they hear his argument.
Bessent also said he is frustrated with the U.S. Federal Reserve.
The Supreme Court is hearing arguments Wednesday over Trump’s effort to oust Federal Reserve governor Lisa Cook based on allegations she committed mortgage fraud, which she denies.
No president has fired a sitting Fed governor in the agency’s 112-year history.
Trump's arrival in Switzerland has been delayed by mechancial trouble.
There was a minor electrical problem late Monday on Air Force One, the aircraft that transports the president, leading the crew to turn around the plane about 30 minutes into the flight out of an abundance of caution.
Trump boarded another aircraft, an Air Force C-32, a modified Boeing 757 normally used by the president for domestic trips to smaller airports, and continued his trip to Davos shortly after midnight.
AP World Economic Forum: https://apnews.com/hub/world-economic-forum
Tim Cook, Apple CEO, makes a victory sign to the photographer in the corridors during the 56th annual meeting of the World Economic Forum, WEF, in Davos, Switzerland, Tuesday, Jan. 20, 2026. (Gian Ehrenzeller/Keystone via AP)
Canada's Prime Minister Mark Carney speaks during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Tuesday, Jan. 20, 2026. (AP Photo/Markus Schreiber)
President of the European Commission Ursula von der Leyen talks during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Tuesday, Jan. 20, 2026. (AP Photo/Markus Schreiber)
French President Emmanuel Macron talks with ECB President Christine Lagarde during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Tuesday, Jan. 20, 2026. (AP Photo/Markus Schreiber)
President Donald Trump boards Air Force One for a trip to attend the World Economic Form in Davos, Tuesday, Jan. 20, 2026, at Joint Base Andrews, Md. (AP Photo/Evan Vucci)
