Riyadh: The Kingdom hosted a multilateral meeting titled "Shaping New Markets: Markets of Tomorrow Accelerator in Saudi Arabia," on the sidelines of the World Economic Forum (WEF) special meeting held in Riyadh. The meeting follows the signing of the Accelerator by Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Sawaha, and WEF President Borge Brende, at the 2023 WEF annual meeting in Davos, Switzerland. The meeting aims to unify support and activate partnerships between the public and private sectors and academic institutions.The Accelerator targets identifying promising new markets capable of transforming the Kingdom's economy and developing optimal strategies for the growth of these markets within the country. Based on national priorities and aspirations in the research, development, and innovation sector, the Accelerator has identified two key areas for promising markets: achieving carbon neutrality and developing knowledge cities. These core areas align with other nati onal strategies such as the National Investment Strategy, the National Strategy for Industry, the National Transport and Logistics Strategy, and the targets of the National Industrial Development and Logistics Program. In the Accelerator, more than 30 members participate, representing the government sector, private sector, venture-capital firms, universities, and research centers. In the past, the Accelerator has worked on identifying promising markets through several workshops and meetings with its members. Two main priority groups of markets have been identified for the Accelerator to focus on smart city solutions and sustainable construction systems and products. The Accelerator team will conduct an analysis of the opportunities and challenges facing the establishment of these new markets. Source: Saudi Press Agency
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