Engineer Khalid Al-Falih, Saudi Minister of Investment, confirmed that the Kingdom\u2019s gross domestic product (GDP) has seen a historic surge, doubling from 2.6 trillion riyals to 4.7 trillion riyals over the past ten years, at an annual growth rate of 8%. He made these remarks at a government press conference held today, where Al-Falih reviewed the Kingdom\u2019s most notable economic and investment achievements.<\/p>\n\n\n\n
The minister explained that preliminary projections indicate that foreign direct investment inflows will reach more than 140 billion riyals in 2025, up from 119 billion riyals in 2024, reflecting investors\u2019 confidence in Saudi Arabia\u2019s business environment and its rapid development. Al-Falih noted that Saudi citizens are the primary beneficiaries of Vision 2030, as quality jobs have been created and the unemployment rate has fallen from 13% to less than 7.5%. Wages for Saudis in the private sector have also risen by approximately 45%. He highlighted the creation of 800,000 new jobs in the national economy, with employment opportunities in the pharmaceutical sector doubling and a notable increase in women\u2019s participation in the labor market\u2014now twice what it was in the past.<\/p>\n\n\n\n
As part of the digital and technological transformation, the minister announced that \u201cHumane\u201d will become the \u201cAramco\u201d of artificial intelligence within the Kingdom, underscoring the Kingdom\u2019s commitment to innovation and modern technologies. Al-Falih added that the National Investment Strategy is based on four main pillars comprising 41 specific initiatives, aimed at creating innovative investment opportunities that serve various economic sectors, providing exceptional services to investors and increasing their numbers, improving the investment experience, as well as strengthening and facilitating access to financing sources and enhancing the competitiveness of the Kingdom\u2019s investment environment.<\/p>\n\n\n\n
The minister also highlighted the Kingdom\u2019s participation in the World Economic Forum as a unique, positive, and confident example with a clear vision, at a time when pessimism prevails in the global economic climate, emphasizing that the Kingdom is moving steadily toward a prosperous economic future. The press conference was held as part of efforts to promote transparency and engage with the public. During the event, Al-Falih reviewed the most significant investment developments that have positively impacted the national economy, while highlighting developments in the investment ecosystem and future directions under Vision 2030.<\/p>\n\n\n\n
He emphasized that the Kingdom has seen a rise in foreign investment inflows and an increase in the number of global companies that have relocated their headquarters to Saudi Arabia, along with the modernization of numerous regulations and laws in line with Vision 2030, making it one of the most attractive emerging markets for capital. Al-Falih emphasized that foreign direct investment inflows have increased fivefold since the launch of Vision 2030, and that Saudi Arabia has become one of the most attractive emerging economies for investment, thanks to the ministry\u2019s efforts to modernize legislation and streamline procedures for investors. He noted that these reforms have had a direct impact on increasing employment, reducing unemployment rates, and raising the participation rate of Saudi men and women in the private sector from the launch of the Vision through the end of 2025.<\/p>\n\n\n\n
The data showed that the Kingdom ranked eighth among the G20 countries in terms of foreign direct investment inflows in 2024, with a value of $31.8 billion (119.2 billion riyals), exceeding the annual target for the fourth consecutive year, reflecting continued investment momentum and a marked improvement in the business environment against the backdrop of reforms and the Kingdom\u2019s Vision 2030. The Saudi investment environment has undergone fundamental reforms, including the modernization of the investment system, the removal of restrictions on foreign investment, and the strengthening of governance and transparency. These measures have increased the Kingdom\u2019s competitiveness and made it a preferred destination for local and foreign investors in the manufacturing, energy, tourism, and healthcare sectors. The International Monetary Fund praised the reforms and investment projects being implemented by Saudi Arabia, which have helped attract foreign capital to new sectors such as entertainment and technology, in addition to the oil sector, which continues to attract significant investment.<\/p>\n\n\n\n
Al-Falih concluded by emphasizing that Vision 2030 is not merely an economic plan, but rather a genuine journey\u2014one whose success has been proven by figures and achievements\u2014toward building a diversified and sustainable economy that ensures the well-being of Saudi citizens and places the Kingdom on the global economic map as a significant investment power.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>Saudi Arabia's GDP has witnessed a historic leap, doubling from SR2.6 trillion to SR4.7 trillion over the past ten years, with an annual growth rate of 8%, according to Khalid Al-Falih, Saudi Arabia's Minister of Investment. This came at a government press conference held today, where Al-Falih reviewed the most prominent economic and investment achievements of the Kingdom. The minister explained that ... 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