Riyadh:A significant panel discussion, "Saudi Vision 2030 Economic Transformation and Global Competitiveness," was held during the 25th WPC Energy Congress, focusing on the vision's pivotal elements for success and strategies for managing large-scale economic transformation. The session also delved into methods for attracting foreign investment and ensuring fiscal sustainability.
According to Saudi Press Agency, Minister of Investment Fahad bin Abduljalil Al-Saif highlighted the qualitative shift in Saudi Arabia's investment environment, moving from quantity-focused to quality-focused investments. Over the past five years, capital development and investment have significantly risen, with foreign direct investment reaching approximately SAR1.1 trillion.
The discussion underscored that more than 75% of investments during this period came from the private sector. This was facilitated by the development of supply chains and the establishment of economic and industrial clusters, such as automotive and maritime industry hubs, enhancing the Kingdom's global competitiveness.
Participants concluded that Saudi Vision 2030 represents more than a milestone or interim goal; it serves as a foundation for constructing a sustainable and internationally competitive economy. They stressed the importance of clear policies, regulatory stability, and increased productivity across both public and private sectors to ensure long-term economic prosperity.