RIYADH: Crown Prince Mohammed Bin Salman outlined Saudi Arabia’s vision for an ‘economy of the future,’ emphasizing innovation, growth-oriented strategies, and global partnerships. Speaking at a special dialogue session during the World Economic Forum Special Meeting, the Crown Prince, also serving as the Kingdom’s Prime Minister, addressed a diverse audience of global leaders. He stressed Saudi Arabia’s proactive stance in addressing geopolitical and economic challenges, highlighting the nation’s commitment to regional stability and the importance of collaborating with global partners for mutual security and prosperity.
Underlining the transformative agenda of Saudi Vision 2030, the Crown Prince showcased the Kingdom’s strides in diversifying its economy, with non-oil sectors assuming greater significance. He discussed comprehensive reforms empowering the private sector, citing the growth of the Public Investment Fund (PIF) as evidence of Saudi Arabia’s economic evolution.
Celebrating milestones such as Saudi Arabia’s non-oil GDP surpassing 50% of the total GDP in 2023, the Crown Prince emphasized the importance of investment in research and development. He noted the emergence of national champions like ACWA Power, Ceer, and Alat, driving innovation and sectoral growth.
Emphasizing the Kingdom’s burgeoning digital economy, the Crown Prince underscored Saudi Vision 2030’s transformative impact on society, citing improvements in quality of life and increased women’s labor force participation.
Looking ahead, the Crown Prince projected Saudi Arabia’s continued rise as a global hub for transit, technology, and trade, supported by initiatives such as IMEC. He portrayed Saudi Vision 2030 as an ongoing journey brimming with opportunities for collaboration and growth with international partners.
