Saudi Arabia offers huge opportunities, but more to come: Minister

Minister of Economy and Planning Faisal Al-Ibrahim

Minister of Economy and Planning Faisal Al-Ibrahim said that Vision 2030 is a roadmap to diversify the Saudi economy, which provides numerous opportunities across various fields. 

The huge and diverse opportunities that currently exist in the Kingdom are only a small part of what will come later, he told Asharq Bloomberg TV on the sidelines of the World Economic Forum in Davos. 

There is strong momentum in the Kingdom’s non-oil economy and investments lured from foreign sources, the minister said.  

In addition, foreign direct investments in Saudi Arabia are proceeding steadily, rising by 29% quarter-on-quarter in Q3 2023. 

“We are committed to achieving the target of 5.7% by the end of 2030," Al-Ibrahim added. 

He pointed out that Saudi Arabia is not only a source of capital, but has become the capital of investment opportunities in light of Vision 2030 projects, indicating that several companies and investors from all over the world are convinced of the Kingdom's transformation story.