In a talk at the Makkah Halal Forum 2025 , H.E. Mr. Yousef Khalawi , Secretary General of the Islamic Chamber of Commerce and Development (ICCD), shared his vision for shaping the future of the global halal economy. The session, titled “Strategies Shaping the Future of Halal,” was moderated by Dr. Wael Eldesouki Bedda , Secretary General of the Saleh Kamel Sustainable Entrepreneurship & Enterprise Development Organization (SKSEED), and provided attendees with a roadmap for driving innovation, sustainability, and inclusivity in the rapidly growing halal sector.

During the 20-minute interview, Mr. Khalawi emphasized the transformative potential of the halal industry,He outlined key strategies to position the halal economy as a force for ethical trade, environmental stewardship, and cross-border collaboration.

“The halal economy is not just about compliance—it’s about creating value that benefits humanity and the planet,” Mr. Khalawi stated. He highlighted the importance of aligning halal practices with the United Nations Sustainable Development Goals (SDGs), ensuring that growth in the sector contributes to poverty alleviation, gender equality, and climate action.

One of the central themes of the discussion was the role of technology in advancing the halal ecosystem. Mr. Khalawi praised the integration of blockchain, artificial intelligence (AI), and e-commerce as tools to enhance transparency, traceability, and consumer trust.

“Digital solutions are revolutionizing the halal supply chain,” he explained. “From farm to fork, blockchain ensures that products meet halal standards at every stage, while AI optimizes resource use and reduces waste.”

He also called for greater investment in halal tech startups, urging governments and private sectors to support innovation in areas like halal pharmaceuticals, logistics, and fintech.

Mr. Khalawi underscored the critical role of small and medium enterprises (SMEs) and women entrepreneurs in driving the halal economy forward. “SMEs are the backbone of the halal industry, and women are its untapped potential,” he said.

He highlighted initiatives led by the ICCD to provide training, funding, and market access to SMEs, particularly in underserved regions. Similarly, he praised programs empowering women entrepreneurs, noting that their leadership is essential to fostering inclusivity and innovation.

The interview also addressed the need for harmonized global standards to facilitate trade and build consumer confidence. Mr. Khalawi stressed the importance of partnerships between international organizations, governments, and private sectors to overcome barriers such as certification inconsistencies and trade restrictions.

“Unified standards are the foundation of trust,” he asserted. “By working together, we can create a seamless halal ecosystem that benefits producers and consumers alike.”

Mr. Khalawi commended Saudi Arabia’s leadership in advancing the halal agenda, aligning with the Kingdom’s Vision 2030 goals. He noted that Makkah’s unique position as the spiritual heart of the Islamic world makes it an ideal hub for fostering collaboration and innovation in the halal sector.

“Makkah is not just a host—it is a symbol of unity and ethical leadership,” he said. “This forum is a testament to the Kingdom’s commitment to shaping the halal future.”

Concluding the session, Mr. Khalawi issued a call to action for stakeholders across the halal ecosystem. “We must move beyond dialogue and take concrete steps to implement these strategies,” he urged.

Hafiz Maqsood Ahmed is the Editor-in-Chief of The Halal Times.

Courtesy: the Halal Times

Saudi Arabia’s Economic Power will be on full display at the World Economic Forum (WEF) in Davos, Switzerland in 2025. This yearly confluence of global leaders from business, politics, and academia is poised to witness a commanding presence from the Kingdom. This robust participation underscores Saudi Arabia’s ascendant position on the world stage: a top 20 global economy, a dominant force within the energy sector, and a nation undergoing a profound and multifaceted economic transformation.

Diversification as the Bedrock of Economic Power

Investment Minister Khalid Al-Falih’s presence at the WEF is a powerful symbol of this paradigm shift. Saudi Arabia’s global identity has been almost exclusively intertwined with its vast hydrocarbon reserves for decades. However, the Kingdom is now proactively and strategically rewriting its narrative, placing economic diversification at the core of its future trajectory. This strategic redirection, meticulously articulated and implemented through the Vision 2030 plan, aims to forge a vibrant, sustainable, and diversified national economy.

This entails significantly reducing reliance on oil revenues and establishing Saudi Arabia as a leading player across a multitude of sectors on the global economic stage. This diversification is not merely a theoretical exercise or a public relations campaign; it is a concerted, well-funded, and meticulously planned national effort to build Saudi Arabia’s Economic Power on a robust foundation of innovation, technological advancement, and the cultivation of human capital.

The WEF provides an unparalleled platform for the Kingdom to share its unique insights, learn from global best practices, and, crucially, forge strategic partnerships that contribute to a more resilient, inclusive, and equitable global economic order. This encompasses collaborations on critical issues such as strengthening global supply chain resilience, fostering technological innovation and adoption, and collaboratively addressing pressing global challenges such as poverty, inequality, and climate change.

Building a Modern, Dynamic Kingdom

The WEF provides an optimal stage for Saudi Arabia to articulate and showcase the core pillars of Vision 2030. This ambitious national plan is far more than a simple collection of economic reforms; it represents a comprehensive societal transformation, impacting every facet of Saudi Arabian life. Here’s a more granular look at how the Kingdom is translating its vision into tangible progress:

• Diversifying the Economy: Beyond Hydrocarbons: Vision 2030 unequivocally prioritizes the rapid development of non-oil sectors such as tourism, renewable energy generation, advanced technology, logistics and transportation infrastructure, world-class healthcare services, and a modernized education system. This multi-pronged strategy is designed to create millions of new job opportunities for Saudi citizens, foster a vibrant culture of innovation and entrepreneurship, and attract substantial foreign investment across diverse sectors.

• Investing in the Future: Attracting Strategic Foreign Direct Investment (FDI): The Kingdom is actively and strategically working to attract substantial foreign direct investment (FDI) to provide the necessary fuel for its ambitious economic transformation. The National Investment Strategy plays a pivotal role in this crucial endeavor, offering a range of attractive incentives for foreign businesses, streamlining complex regulatory processes, and significantly improving the overall business environment within the Kingdom.

• Untapped Potential: A Nation Ripe with Opportunities: Saudi Arabia possesses several key competitive advantages that it is effectively leveraging to attract investment, stimulate economic growth, and drive national development. These include a young and rapidly growing population, a highly strategic geographic location bridging Asia, Africa, and Europe, and a wealth of natural resources that extend far beyond oil, including significant reserves of minerals, abundant solar energy potential, and vast stretches of coastline suitable for tourism development.

Showcasing Progress and Future Potential

The strategically positioned “Saudi House” at the WEF serves as a central and highly visible hub for the Kingdom’s presence. This dedicated space provides a dynamic platform to:

1. The Story of Transformation: The Saudi House will offer visitors an immersive and engaging experience, showcasing the Kingdom’s remarkable economic and social transformation through a combination of interactive exhibits, informative presentations, and high-level networking events.

2. Tangible Achievements: The space will highlight Saudi Arabia’s tangible accomplishments across a diverse range of fields, including culture, innovation, tourism, and sustainability. This includes showcasing significant advancements in areas such as large-scale renewable energy projects, the preservation and promotion of Saudi Arabia’s rich cultural heritage, and the development of new and exciting tourist destinations designed to attract international visitors.

3. Strategic Investment Opportunities: A core focus of the Saudi House will be to highlight attractive investment opportunities within the key sectors targeted for accelerated development under Vision 2030. This includes showcasing specific high-profile projects, clearly outlining available investment incentives, and facilitating direct and meaningful engagement with key Saudi government officials and influential business leaders.

Engaging with Global Leaders

Minister Al-Falih consistently emphasizes the crucial role of the WEF in facilitating high-level bilateral and multilateral meetings with major global investors. These strategic interactions are specifically designed to:

• Specialized Expertise: The WEF provides a uniquely valuable platform for Saudi Arabia to connect directly with potential investors, showcase the significant progress it has made in enhancing the investment environment, and attract the necessary capital and specialized expertise to effectively support its ambitious economic diversification efforts. The Kingdom’s strategic position as the largest and most dynamic market in the Middle East and the Arab world further strengthens its inherent attractiveness to global businesses seeking new growth opportunities.

• Global Best Practices: The forum provides an invaluable opportunity for Saudi Arabia to share its inspiring success stories in implementing far-reaching economic reforms, actively promoting entrepreneurship and innovation, and steadily developing a robust and sustainable knowledge-based economy. This crucial exchange of knowledge and global best practices not only benefits Saudi Arabia directly but also contributes meaningfully to the ongoing global conversation on sustainable economic development.

Addressing Critical Global Challenges

Saudi Arabia’s participation in the WEF extends far beyond transactional deal-making and investment pitches. The Kingdom is actively and constructively engaged in high-level discussions on a wide range of critical global issues, including climate change mitigation and adaptation, the complex global energy transition, and the collective pursuit of a truly sustainable future for all.

Vision 2030 places a strong and unwavering emphasis on environmental sustainability, and the WEF provides a crucial platform for Saudi Arabia to share its experiences, showcase its innovative initiatives in renewable energy and green technologies, and collaborate effectively with other nations on developing and implementing effective solutions for a more sustainable and environmentally responsible future.

While Saudi Arabia has made significant and demonstrable strides in implementing the core objectives of Vision 2030, the ongoing journey is not without its inherent challenges. These include:

1. Developing a Skilled Workforce: Developing a domestic workforce equipped with the advanced skills and expertise required for the emerging new economy is a critical and ongoing challenge. The Kingdom is investing heavily in a range of targeted education and training programs to proactively address this crucial skills gap.

2. Streamlining Bureaucratic Processes: Streamlining complex bureaucratic processes and further improving the overall ease of doing business within the Kingdom remains an important and ongoing priority for the Saudi government.

3. Managing Global Economic Volatility: External factors beyond the Kingdom’s direct control, such as global economic slowdowns, geopolitical instability, and fluctuations in global commodity markets, can potentially impact Saudi Arabia’s economic growth trajectory.

4. Managing Social and Cultural Shifts: Implementing significant social and cultural changes requires careful and sensitive management to ensure a smooth and inclusive transition that respects the Kingdom’s unique cultural heritage.

Despite these inherent challenges, the long-term opportunities for Saudi Arabia are immense. The Kingdom’s unwavering commitment to the strategic objectives of Vision 2030, its highly strategic geographic location at the crossroads of three continents, its vast and diverse natural resources, and its growing and increasingly active engagement with the global community position it for continued and sustainable economic growth and national development in the decades to come.

A New Era for Saudi Arabia

Saudi Arabia’s prominent presence at the WEF signifies a truly pivotal moment in the Kingdom’s modern history. It is a compelling narrative of ambitious economic transformation, deepened global collaboration, and an unwavering commitment to building a sustainable and prosperous future for its citizens and the wider world. The WEF serves not merely as a platform to attract foreign investment but also as a strategically important stage to articulate and share Saudi Arabia’s overarching vision, engage in constructive global dialogue on critical issues, and actively contribute to a more interconnected, equitable, and prosperous global community.

The Kingdom’s resolute focus on building Saudi Arabia’s Economic Power through strategic diversification, fostering a vibrant culture of innovation, and forging crucial strategic partnerships is effectively setting the stage for a new and transformative era of sustained economic growth, enhanced global influence, and enhanced national development on the world stage. The Kingdom’s dynamic and proactive participation in global forums like the WEF is a powerful testament to its clear ambition to emerge as a leading global economic powerhouse in the 21st century and beyond.

Deep Dive into Diversification

The cornerstone of Vision 2030 is undoubtedly the ambitious drive to diversify the Saudi economy away from its historical over-reliance on the hydrocarbon sector. This strategic shift is not simply about reducing dependence on a single commodity; it’s about building a more resilient, sustainable, and dynamic economy capable of generating long-term growth and prosperity for future generations. Several key sectors have been identified as crucial for this diversification effort:

• Tourism: Saudi Arabia is investing heavily in developing its tourism sector, aiming to attract millions of international visitors each year. This includes developing luxury resorts along the Red Sea coast, promoting cultural heritage sites, and hosting major international events.

• Renewable Energy: The Kingdom is making significant investments in renewable energy technologies, particularly solar and wind power. This not only helps to reduce its carbon footprint but also creates new economic opportunities in a rapidly growing global sector.

• Technology and Innovation: Saudi Arabia is actively promoting the development of a vibrant technology and innovation ecosystem. This includes supporting startups, investing in research and development, and attracting leading technology companies to the Kingdom.

• Logistics and Transportation: Given its strategic geographic location, Saudi Arabia is investing in developing its logistics and transportation infrastructure to become a major regional and global hub for trade and commerce.

• Manufacturing: The Kingdom is also focusing on developing its manufacturing sector, aiming to produce a wider range of goods for both domestic consumption and export.

Investing in the Future Workforce

Recognizing that a skilled and adaptable workforce is essential for driving economic growth and innovation, Saudi Arabia is making significant investments in education and training programs. This includes:

1. Improving the Quality of Education: The Kingdom is working to improve the quality of education at all levels, from primary school to university, with a focus on developing skills in science, technology, engineering, and mathematics (STEM).

2. Providing Vocational Training: Saudi Arabia is also expanding vocational training programs to equip young people with the skills needed for jobs in high-growth sectors.

3. Promoting Lifelong Learning: The Kingdom is encouraging lifelong learning and skills development to ensure that its workforce remains adaptable and competitive in a rapidly changing global economy.

Vision 2030 is not just about economic reforms; it also encompasses significant social and cultural changes aimed at creating a more open, inclusive, and vibrant society. These include:

• Empowering Women: Saudi Arabia has made significant progress in empowering women in recent years, including increasing their participation in the workforce and granting them greater social freedoms.

• Promoting Cultural Expression: The Kingdom is actively promoting cultural expression and creativity, supporting the development of a vibrant arts and entertainment scene.

• Improving Quality of Life: Saudi Arabia is investing in improving the overall quality of life for its citizens, including developing new housing projects, improving healthcare services, and creating more recreational opportunities.

Saudi Arabia’s presence at the WEF 2025 is more than just a symbolic gesture; it represents a powerful statement of intent. The Kingdom is determined to play a leading role in shaping the global economy of the 21st century, leveraging its strategic location, its vast resources, and its ambitious vision to build a more prosperous and sustainable future for itself and the world. The journey of transformation is ongoing, but the progress achieved thus far is undeniable. Saudi Arabia is not just adapting to a changing world; it is actively shaping it, solidifying its position as a rising global economic power.

Courtesy: Halal Times