Riyadh:A panel discussion at the 25th WPC Energy Congress focused on "Saudi Vision 2030 Economic Transformation and Global Competitiveness," delving into the strategies for managing large-scale economic transformation, attracting foreign investment, and maintaining fiscal sustainability.
According to Saudi Press Agency, Minister of Investment Fahad bin Abduljalil Al-Saif highlighted a significant shift in the Kingdom's investment environment, moving from quantity to quality. Over the past five years, capital development and investment have seen substantial growth, with the cumulative stock of foreign direct investment reaching approximately SAR1.1 trillion.
The minister emphasized that the private sector contributed more than 75% of investments during this period. This growth was supported by developments in supply chains and the establishment of economic and industrial clusters, including hubs for the automotive and maritime industries, enhancing the Kingdom's competitiveness on a global scale.
Participants concluded that Saudi Vision 2030 is more than just a milestone or interim goal; it is a foundation for establishing a sustainable and internationally competitive economy. They stressed the necessity of clear policies, regulatory stability, and increased productivity across both the public and private sectors to ensure long-term economic prosperity.
