Saudi Minister of Economy and Planning Faisal Al-Ibrahim revealed that the total investment required for the infrastructure sector in the Kingdom is estimated at approximately one trillion dollars over the next decade, noting the growing role of the private sector in the Saudi economy, which aims to achieve a 65.1% contribution to GDP by 2030.
During his participation in the Public Investment Fund and Private Sector Forum in Riyadh, Al-Ibrahim explained that the private sector’s contribution to the Saudi economy rose to 46%, reaching 65% if the Public Investment Fund’s portfolio and its companies are included, compared to 40% before the launch of Saudi Vision 2030.
For his part, Yasser Al-Rumayyan, Governor of the Public Investment Fund, confirmed that the fund is providing investment opportunities worth 40 billion riyals to the private sector through its platform, with the aim of stimulating investments across the entire value chain and strengthening strategic partnerships.
Massive investments to diversify the economy
Since the launch of Vision 2030 in 2016, the value of announced Saudi projects has reached $1.3 trillion, according to data from Knight Frank last September. The government seeks to achieve sustainable growth led by the private sector, emphasizing that the sector’s contribution should not be directly linked to government spending, reflecting the Vision’s success in creating an independent and thriving economic sector.
An Ambitious Investment Strategy
The objectives of Saudi Arabia’s National Investment Strategy are distributed as follows:
5 trillion riyals from projects under the “Sharik” program, which aims to strengthen public-private partnerships.
3 trillion riyals in domestic investments managed by the Public Investment Fund.
4 trillion riyals in diversified investments by national and international companies.
This approach aligns with the Kingdom’s efforts to diversify its revenue sources away from oil and to strengthen the private sector’s performance so that it becomes a strategic partner in achieving comprehensive economic renaissance, with a focus on sustainability and balanced economic growth.
