Saudi Arabia’s Investments in Infrastructure Set to Reach $1 Trillion by 2030
Riyadh, The Gulf Observer: Minister of Economy and Planning, Faisal Al-Ibrahim, announced that investments in Saudi Arabia’s infrastructure sector are expected to reach approximately $1 trillion by 2030, driven by clear economic goals and long-term strategies for private-sector involvement.
Speaking at the Public Investment Fund (PIF) Private Sector Forum in Riyadh on Thursday, Al-Ibrahim emphasized that the Kingdom’s non-oil sector is poised for significant growth by 2026, thanks to the expansion of key industries. He noted that the strategic role of the Public Investment Fund (PIF) in financing and establishing vital companies has been instrumental in driving economic development.
Al-Ibrahim highlighted that PIF’s mission extends beyond financial returns, underlining its contribution to advancing Saudi Arabia’s knowledge economy and introducing innovative business models. He stressed the importance of PIF’s initiatives in fostering new industries, strengthening government integration, and supporting the development of national talent and human capital.
Reflecting on Saudi Vision 2030, the minister reiterated the necessity of diversifying the economy and reducing dependency on a single revenue stream. By focusing on the growth of non-oil sectors and boosting high-value exports, the Kingdom is positioning itself for a sustainable and resilient economic future. Al-Ibrahim referred to the ongoing economic transformation as more than just a transitional phase, calling it a fundamental shift that redefines Saudi Arabia’s national economy.
Al-Ibrahim also underscored PIF’s central role in facilitating public-private partnerships and supporting sustainable growth, which is crucial for the successful realization of Saudi Vision 2030. With ambitious infrastructure investments and a diversified economic agenda, the Kingdom is charting a path toward long-term economic prosperity.
