BEIJING, Nov 29 (APP): The Boao Forum for Asia (BFA) Riyadh Conference 2025, held the other day in Saudi Arabia, highlighted regional economic diversification and sustainable development.
The conference, titled “Transforming for regional economic diversification and sustainable development,” will hold two sub-forums on regional economic resilience and energy transition and sustainable growth.
In his opening remarks, Ban Ki-moon, Chairman of the Boao Forum for Asia and former UN Secretary General, said that while the world was becoming increasingly unpredictable, divided, and volatile, there was no shortage of new hopes and opportunities, such as developing countries leading the clean energy trend. In the first half of this year, renewable energy surpassed coal as the world’s largest source of electricity for the first time. At the same time, strengthening regional cooperation has become a realistic choice for all parties, and open regionalism is the common response of Asian countries to protectionism.
Former New Zealand Prime Minister Jenny Shipley said economic transformation is easier said than done and requires strategic vision, leadership, and commitment at both the national and regional levels. Saudi Arabia and other Asian countries have made remarkable progress in economic transformation.
The next step should be to focus on building human capital, improving the business environment, and upholding multilateralism and international cooperation. In particular, we should focus on female leadership to promote national economic growth and social development.
Abdullah Haman Al-Fadi, CEO of Saudi Basic Industries, said that promoting global economic growth should be accompanied by a focus on diversifying pathways to promote the affordable energy transition. This requires cooperation among all stakeholders to facilitate trade, investment, and technology sharing and to improve regional value chains, Xinhua reported.
As Policy Advisor to the Secretary General, Boao Forum for Asia moderated the second session of the Forum on Energy Transformation and Sustainable Development, and Zhang Jun, Secretary-General of the Boao Forum for Asia, pointed out that according to the Boao Research Forum, Asia has become a pioneer in economic transformation while maintaining its position as the core engine of global growth. China and other countries have played a leading role in making Asian economies more resilient.
The meeting was jointly hosted by the Boao Forum for Asia and the Saudi Basic Industries Company (SABIC) , attended by more than 300 political, business, and academic participants from more than 10 countries and regions and multiple international organizations.