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| Jeddah Economic Forum | |
|---|---|
| Name | Jeddah Economic Forum |
| Formation | 1999 |
| Type | International forum |
| Headquarters | Jeddah |
| Location | Jeddah, Saudi Arabia |
| Region served | Middle East |
Jeddah Economic Forum
The Jeddah Economic Forum is an annual multinational gathering held in Jeddah that convenes leaders from Saudi Arabia, the United States, the United Kingdom, China, Russia and the European Union to discuss regional and global affairs. Established with ties to prominent institutions such as the Jeddah Chamber of Commerce and Industry and interactions with organisations like the World Bank, the forum has featured delegations from the International Monetary Fund, the United Nations, OPEC, and major multinational corporations including Saudi Aramco, BP, and ExxonMobil. Its programming often intersects with policy debates involving the Gulf Cooperation Council, the Arab League, the BRICS association, and think tanks such as the Brookings Institution and the Atlantic Council.
The forum functions as a platform linking policymakers from Riyadh, Abu Dhabi, Doha, Cairo, and Amman with financiers from New York City, London, Beijing, and Singapore and academics from institutions like King Abdullah University of Science and Technology, Harvard University, Oxford University, and Stanford University. Sessions address investment themes championed by leaders including figures associated with Mohammed bin Salman, executives from Citigroup and Goldman Sachs, and regulators from bodies such as the Saudi Central Bank (SAMA), European Central Bank, and US Federal Reserve. The event routinely attracts coverage from media outlets like Al Jazeera, BBC, Reuters, and Bloomberg.
Founded in 1999 amid regional shifts following the 1997 Asian financial crisis and the aftermath of the 1998 Russian financial crisis, the forum emerged as part of broader initiatives tied to Saudi Vision 2030 and earlier economic reform efforts initiated during periods connected to leaders formerly associated with the House of Saud. Early editions convened ministers from Iraq pre-2003, delegations from Turkey, and investors engaged in reconstruction projects linked to the Gulf War era. Over time the forum evolved alongside milestones such as the expansion of OPEC+ cooperation, the Arab Spring ripple effects, and the rise of sovereign wealth funds like the Public Investment Fund (Saudi Arabia). Its timeline includes sessions that responded to the 2008 global financial crisis, the 2014 oil price collapse, and the COVID-19 pandemic.
Official objectives include fostering dialogue among leaders from finance ministries (not linked), investors from BlackRock and Vanguard Group, and CEOs from Siemens, SoftBank, and Tencent to catalyze projects within strategic sectors such as energy transition, infrastructure, tourism, and technology. Recurring themes have included energy policy interactions involving OPEC and International Energy Agency, diversification initiatives akin to Saudi Vision 2030, foreign direct investment drives tied to the World Trade Organization, and public‑private collaboration models seen in partnerships with entities like McKinsey & Company and Bain & Company. Panels often integrate discussions about regional stability referencing diplomacy by United States Department of State envoys, mediation efforts linked to United Nations Security Council resolutions, and investment risk assessments informed by agencies like the International Finance Corporation.
High-profile participants have included heads of state, ministers, central bankers, and corporate leaders: speakers or attendees associated with the Gulf Cooperation Council leadership, former US Secretary of State figures, executives from TotalEnergies, chairpersons from HSBC, and economists affiliated with International Monetary Fund mission teams. The forum has hosted panels featuring academics from London School of Economics, Nobel laureates who have lectured at Columbia University, and policy thinkers from Chatham House and the Carnegie Endowment for International Peace. Business delegations have included board members from Aramco, PetroChina, and private equity firms such as The Carlyle Group and Blackstone.
The forum has served as a venue for memoranda of understanding and framework agreements between investors and Saudi agencies, sometimes preceding projects visible in partnerships with companies like ACWA Power and construction firms engaged in developments similar to initiatives in NEOM and Red Sea Project. Outcomes cited by participants include commitments to co-finance infrastructure transactions, joint research collaborations with universities like MIT, and policy signaling that influenced bond issuances in International Monetary Fund reports and sovereign debt markets. The gathering has also contributed to diplomatic track-two engagements among delegations from Iran (indirectly through regional dialogues), Egypt, and Sudan.
Organizers have included municipal authorities of Jeddah, regional chambers such as the Jeddah Chamber of Commerce and Industry, national ministries associated with trade and investment, and international partners including multilateral lenders like the World Bank Group and consultancies. Participants range from sovereign wealth funds—Public Investment Fund (Saudi Arabia), Qatar Investment Authority—to multinational banks including Deutsche Bank and Morgan Stanley, insurers like AXA, and technology firms such as Microsoft and Google. Delegations often involve representatives from investment houses headquartered in Zurich, Frankfurt, Hong Kong, and Dubai.
The forum has faced scrutiny similar to other international gatherings: criticism from Amnesty International and Human Rights Watch about the host state's human rights record; debate in outlets such as The Guardian and The New York Times over transparency of investment pledges; and commentary by policy researchers at Human Rights Watch and Freedom House regarding civil society access. Critics have also pointed to alleged greenwashing by corporations represented by Big Oil companies and to concerns raised by analysts from Transparency International about procurement practices. Controversial sessions have occasionally prompted protests or been the subject of investigative reporting by media like Al Arabiya and The Washington Post.
Category:Conferences in Saudi Arabia