The 15th Jeddah Economic Forum (JEF) organizing committee revealed that the forum’s activities will be in keeping with King Salman bin Abdulaziz’s vision for the national transformation program. The forum also highlights the Council of Economic and Development Affairs’ program aiming at reinforcing the Saudi economic capacity for diversification which secures it against future hurdles.

The Council of Economic and Development Affairs is chaired by Deputy Crown Prince Mohammad bin Salman.

The JEF, to be held in March, under the sponsorship of Governor Khalid bin Faisal, Advisor to the Custodian of the Two Holy Mosques, will propose an ensemble of visions and perspectives titled “Cooperation for a stronger economy, featuring both private and public sector companies”. The forum’s presentations will address responsible bodies, especially the Council of Economic and Development Affairs.

Moreover, the forum activities will present 20 worldwide experienced modules for privatization. The exposition will aim to scrutinize which is the best of methods, benefit from it, and avoid the loop holes that other methods fall in.

Lama Al Sulaiman, elected Deputy Chairwoman of the Jeddah Chamber of Commerce & Industry also supervising the JEF, stated that the activities will be exhibit a global vision illustrated by elite international spokesmen on suits involving the Saudi economy.

Moreover, the JEF is considered the second largest global economic event, second only to the Davos-held World Economic Annual Forum.

Al Sulaiman pointed out that the forum sessions will be established in partnership with the Saudi Ministry of Economy and Planning and covered over the course of three stages. The first stage will instate general sessions on the subject of privatization and all its relevant aspects, however, the second stage will be sector-oriented.

The second phase will present 10 main sectors and their outlook on education, health, power, water, municipal affairs, housing, terrestrial transportation, airports, sea ports, and youth sponsorship.

Furthermore, the third stage of sessions will be defined by closed, exclusive sessions, bringing official figureheads together with the private sector, during which the concerned parties will stage the most important projects the upcoming period will be witnessing.

The JEF’s three main phases include a first round of 8 sessions dedicated for privatization of sectors and the partnership, and how it would be impacting both local and global community. The third phase will be exclusively held behind closed doors for a selected presentation of projects of parties, in a confidential insight to what could be presented for the Saudi economy.