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Saudi Arabia's focus is on non-oil growth and momentum is strong, economy minister says

·1 min


Saudi Arabia’s Minister of Economy Discusses Geopolitical Tensions and Vision 2030 #

Saudi Arabia’s Minister of Economy and Planning, Faisal Al Ibrahim, recently discussed the economic impact of geopolitical tensions in the Middle East and provided an update on the kingdom’s Vision 2030 initiative.

During the discussion, Al Ibrahim highlighted the challenges posed by regional conflicts and stressed the importance of stability in the region for economic growth. He emphasized the need for a peaceful resolution to conflicts and called for increased regional cooperation.

Al Ibrahim also provided an update on the progress of Saudi Arabia’s Vision 2030 initiative. He acknowledged the challenges faced due to the COVID-19 pandemic but expressed optimism about the kingdom’s commitment to diversifying the economy and reducing its dependence on oil.

Vision 2030 aims to transform Saudi Arabia into a diversified and dynamic economy, focusing on sectors such as tourism, entertainment, and technology. Al Ibrahim highlighted the various projects and reforms implemented under Vision 2030, including the development of mega-cities, the expansion of the tourism sector, and the promotion of entrepreneurship.

In conclusion, Faisal Al Ibrahim underlined the importance of economic stability in the region, as well as the kingdom’s determination to achieve its Vision 2030 goals despite the challenges.