Saudi Arabia’s Finance Minister, Mohammed Al-Jadaan, recently identified five strategic sectors that remain the core focus of the Kingdom’s Vision. These vital industries will drive the next phase of national development and economic diversification.
The selected sectors include finance, industry and mining, transport and logistics services, energy and electricity, and tourism. During an interview with Asharq TV at the World Economic Forum, Al-Jadaan explained how these fields interconnect to build wealth.
Specifically, the financial sector serves as a key driver for other economic sectors to ensure steady capital flow and investment. Meanwhile, the industry and mining sectors play a pivotal role in creating jobs for citizens while simultaneously boosting national exports.
Infrastructure and Energy Sustainability
Al-Jadaan highlighted the importance of transport and logistics in developing the industrial base through modern ports, roads, and extensive railways. Furthermore, the sustainability of the energy and electricity sectors remains a top priority for the government to attract foreign investment.
The minister stressed that providing energy at affordable prices acts as a primary factor in supporting long-term national economic growth. Consequently, the Kingdom continues to modernize its infrastructure to maintain a competitive edge within the global marketplace and trade routes.
The next five years of the Vision will focus on maximizing impact through established plans, strategies, and disciplined spending levels. Al-Jadaan noted that the first phase focused on planning, while the second phase prioritized the successful execution of those ideas.
Ultimately, the upcoming phase aims to maximize economic returns to ensure the Kingdom achieves its ambitious targets by the year 2030. This transition marks a shift toward harvesting the results of massive institutional reforms and large-scale public-sector investments nationwide.
Strategic Borrowing for Capital Projects
Regarding borrowing, the minister affirmed that the Kingdom’s resort to debt remains a strategic choice for the Saudi Arabian government. He emphasized that the ministry directs debt toward funding capital projects and infrastructure rather than financing basic consumer spending needs.
By focusing on infrastructure, the Kingdom supports long-term growth and ensures that every borrowed Riyal builds a more prosperous future. This disciplined approach to fiscal policy strengthens the national balance sheet while accelerating the completion of various giga-projects.
