Saudi Arabia will be hosting the fifteenth G20 Summit in Riyadh on 21-22 November 2020. It has decided to focus on the Business 20 (B20), making this one of the key engagement groups.
The B20 group is assembled annually and consists of leading businesses from the G20 and other invited countries. The group works to develop and present its policy recommendations to the G20 presidency, in this case to His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, to be considered in overall G20 joint communique. The role of B20 group is becoming more important than ever as the common glue across the G20 business community, amid an increasingly challenging business environment characterized by rising protectionism, populism, trade wars, and declining growth and productivity.
Transforming for inclusive growth, B20 Saudi Arabia aims to deliver an impactful and differentiated policy development process, while reinforcing and sustaining the critical role of the global business community. To deliver on this, B20 Saudi Arabia will follow the strategic principles by developing action-oriented and impactful policy recommendations, through an inclusive, collaborative and transparent approach, and adopting highest professional standards.
Following these principles, B20 Saudi Arabia will engage with the local and global business community on key priority topics: Digitalization; Energy, Sustainability & Climate; Finance & Infrastructure; Future of Work & Education; Integrity & Compliance; and Trade & Investment. Women in Business will be Saudi Arabia’s signature topic and a key aspect of differentiation. Despite being high on many leaders’ agendas, this challenge remains largely unsolved with limited progress over recent decades.
Description of Strategic Principles
1. Action-oriented and impactful policy recommendations
- Ensuring that policy recommendations are actionable (limited overall number to achieve maximum impact) and particular focus on advocacy early on (also reflected in taskforce and action council co-chairs and members)
2. Inclusive, collaborative, differentiated, and transparent approach
- Ensuring processes are transparent and key national and international stakeholders are involved (including G20, W20, L20, and T20); at the same time actively encouraging participation of Saudi business community
- Aiming to increase Saudi and global women’s participation in B20 process through taskforce/ action council chairs, members, etc.
- Attracting global influencers and think-tanks
3. Rigor, collaboration, and the highest professional standards based on economic and business principles
- Working consistently with the highest professional standards across all dimensions and following economic and business principles in decision making to generate policy recommendations