Saudi Minister of Economy and Planning, Faisal Al Ibrahim, expects the Kingdom's non-oil economy to grow by 4.8% in 2025, as efforts to diversify the economy and boost non-oil sectors continue.

Faisal Al Ibrahim's remarks came during a panel discussion at the Public Investment Fund and Private Sector Forum in Riyadh. Ibrahim's remarks came during a panel discussion at the Public Investment Fund and Private Sector Forum in Riyadh, where he explained that the non-oil economy grew by 4.3% last year, surpassing the previous forecast of 3.7%, with growth of 6.2% expected in 2026.

Faisal Al Ibrahim's remarks came during a panel discussion at the Public Investment Fund and Private Sector Forum in Riyadh.

The role of the sovereign wealth fund in economic transformation

<Ibrahim emphasized that PIF's real estate portfolio plays a key role in supporting new sectors such as healthcare and tourism, which contributes to achieving the goals of Vision 2030. He expected the size of the sovereign fund's investments to reach one trillion dollars in the phase of economic transformation, diversification of sources of income and capital development.

The private sector is a strategic partner

<Al-Ibrahim noted that the private sector in the Kingdom is experiencing strong global competition and is characterized by clear long-term planning. "We are working to make the private sector more flexible and less dependent on the government, to become a stronger vital partner in the economy."

Ibrahim noted that the private sector in the Kingdom is experiencing strong global competition and is characterized by clear long-term planning. <He pointed out that the participation of the private sector in the Saudi economy currently stands at 46%, with a plan to raise it to 65% in the coming period, in line with the goals of sustainable economic development.