Politics & News

Alibrahim: Saudi Arabia Halfway Through Journey to Vision 2030

Saudi Arabia’s Minister of Economy and Planning, Faisal Alibrahim, said that the Kingdom is halfway through its journey towards Vision 2030 and that it will continue to deliver what it began seven years ago, reported Al Arabiya.

Alibrahim said that among their priorities are accelerating the pace of economic diversification and enhancing the outcomes of human capital development. So, the Kingdom now stands on the threshold of a new economic era that will witness exciting transformations over the coming decades.

The minister’s statements came in a dialogue session during the annual meeting of the New Champions of the World Economic Forum, which is held in the Chinese city of Dalian. He spoke in a dialogue session entitled “What do we expect from future growth”, about the rapid growth of non-oil activities in the Kingdom since the launch of the vision Kingdom 2030.

The minister said that the Kingdom achieved the fastest economic growth rate for the year 2022 at 8.7%, and non-oil activities achieved 5.6%. Today, the growth of non-oil activities remains strong, as non-oil activity constitutes 51% of the real gross domestic product, and the Kingdom’s non-oil economy is larger than its oil economy.

Alibrahim stressed that the Kingdom plays a major role in the field of energy security and climate action, as it is at the forefront of producers of the cleanest hydrocarbon energy. It is also among the pioneers in the field of renewable energy like green hydrogen, solar energy, wind energy, and other sources.

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