Concluding B20 Saudi Arabia’s Two-Day Virtual Summit
Under the theme “Transforming for Inclusive Growth,” B20 Saudi Arabia concluded its two-day summit with the participation of over 30 speakers representing global businesses, the public sector, and multilateral institutions. The U.S.-Saudi Business Council (USSBC), a member of the B20, covered news of the B20 throughout its discussions and meetings this year.
The Saudi Minister of Investment H.E. Khalid Al-Falih and Yousef Al-Benyan, Chair of B20 Saudi Arabia and CEO of Saudi Basic Industries Corporation (SABIC), officially delivered 25 policy recommendations to the G20 which aim to reinvigorate the global economy and build the foundation for a more sustainable economy and equitable world. The policy recommendations were divided into three themes: Empowering People, Safeguarding the Planet, and Shaping New Frontiers.
The summit’s first day covered topics such as: Transforming for Inclusive Growth, B20 at Ten – A Decade of Impact, and Redesigning Multilateralism for a New Era.
Topics on the second day included: Repurposing Business through Stakeholder Capitalism, Reinvigorating the Battle to Save the Planet, Building Resilient Trade Systems for Inclusive Growth, Humanizing Technological Transformation, and Advancing the Economy by Leveling the Playing Field.
USSBC members played pivotal roles in contributing to the B20’s 25 policy recommendations, notably serving as chairs of three of the B20’s six taskforces and co-chairing three taskforces. Participating members included: Abdel Hadi Abdullah Al-Qahtani & Sons Group of Companies, Air Products & Chemicals, Al Abdulkarim Holding Co, Alfanar Construction, Chubb Arabia Cooperative Insurance Company, Cisco, Citigroup, Dow Chemical Company, Exxon Mobile Corporation, Facebook, Jacobs Engineering Group, Jarir Investment, J.P. Morgan Chase & Co., NEOM, The Olayan Group, Samba Financial Group, Saudi Arabian Mining Company (Ma’aden), Saudi Aramco, Saudi Basic Industries Corporation (SABIC), Saudi British Bank, Saudi Telecom Company, and Seder Group.