PARIS — Saudi Minister of Economy and Planning Faisal Al-Ibrahim attended the Ministerial Council Meeting (MCM) of the Organization for Economic Cooperation and Development (OECD) in Paris on Wednesday. The meeting was held under the theme “Getting industrial policies right for open markets, growth and prosperity.”Addressing a session titled “Balancing the goals and impactsof industrial policy,” the minister outlined the Kingdom’s experience in bolstering economic diversification and achieving sustainable growth under Saudi Vision 2030. Al-Ibrahim highlighted Saudi Arabia’s approach to industrialpolicy, which focuses on supporting long-term competitiveness, enhancing economic resilience, and fostering an enabling environment for innovation, investment and private-sector growth.The minister underscored the importance of designing flexible and productivity-driven industrial policies with a focus on building capabilities that strengthen competitiveness across the economy.He also emphasized the pivotal role of international cooperation in advancing sustainable economic development, sharing expertise and knowledge, and boosting investment flows, all of which help companies innovate and compete globally. Meanwhile, Minister Al-Ibrahim met Secretary General of the Organization for Economic Cooperation and Development (OECD) Mathias Cormann on the sidelines of the OECD Ministerial Council Meeting being held in Paris. During the meeting, they reviewed the latest global and regional economic developments and discussed ways to enhance cooperation between Saudi Arabia and OECD. Al-Ibrahim also met with South Korean Minister for Trade Han-Koo Yeo to discuss ways to strengthen economic, trade, and investment cooperation, as well as the latest global economic developments.
