By: Vn economy

At the Boao Forum for Asia (BFA) Riyadh Conference, co-hosted by SABIC, discussions centered on energy transition and sustainable development, drawing on Middle Eastern experience. SABIC's CEO, Abdulrahman Al-Fageeh, outlined the economic, environmental, and social pillars of sustainable development. He emphasized that a competitive economy relies on four pillars: cost competitiveness, technology and innovation, regulation, and infrastructure. On the environmental front, he highlighted the importance of decarbonization, water conservation, and recycling, citing SABIC's work in carbon capture and plastic recycling.

Socially, Al-Fageeh stressed the need for good governance, equity, inclusion, and understanding the younger generation. The presentation also showcased SABIC's local initiatives, such as the Plastics Application Development Center (SPADC) and the Home of Innovation in Riyadh, as examples of integrating technology and sustainability to support national industrial strategies and Saudi Vision 2030. The forum concluded that these principles provide a strategic direction for other countries, including Vietnam, which is embarking on its own energy transition as part of a shift toward a sustainable economic model.