Saudi Arabia Surpasses Investment Targets Ahead of Vision 2030 Goals

Davos, The Gulf Observer: Saudi Arabia has exceeded its ambitious investment targets of $3.3 trillion set for the primary economy under the Vision 2030 framework, Minister of Investment Khalid Al-Falih revealed during a dialogue session with Bloomberg at the World Economic Forum in Davos.
“When the Kingdom formulated Vision 2030 in 2021, it projected $3.3 trillion in investments would be injected into the primary economy by 2030. We have already surpassed our goals for capital formation, with a substantial portion of this capital already invested,” Al-Falih stated.
The minister highlighted the government’s strategy of slowing its own spending to empower the private sector to take the lead in driving economic growth. “The Public Investment Fund (PIF) plays a strong and pivotal role, yet it accounts for less than 15 to 20 percent of overall investments,” he noted.
Al-Falih also emphasized the Kingdom’s position as one of the least risky global investment destinations, citing decades of uninterrupted political stability, a currency pegged to the U.S. dollar, a high and optimistic credit rating, and exceptional profitability rates as key factors attracting investors.
Saudi Arabia’s progress reflects the robust implementation of Vision 2030 initiatives, aimed at diversifying the economy, reducing dependence on oil revenues, and fostering sustainable economic growth.