Investment Minister: Saudi Arabia’s FDI Quadruples, Vision 2030 Is a Reality, Not a Dream

📷SPA

Riyadh, October 28 (Saudi Arabia Breaking News) – Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih announced that foreign direct investment (FDI) in Saudi Arabia has quadrupled, surpassing initial targets and demonstrating that Vision 2030 is a reality, not a dream.

Speaking during a panel titled “Leaders of Public-Private Alliances” at the ninth edition of the Future Investment Initiative (FII9), Al-Falih said that the Kingdom’s economy is no longer dependent on oil. He noted that 40% of Saudi Arabia’s budget and expenditures are now financed by non-oil revenues, while 90% of total FDI in the Kingdom is non-oil.

He emphasized that Saudi Arabia continues to make strong progress across emerging sectors such as advanced manufacturing, technology, tourism, entrepreneurship, deep tech, and venture capital.

Al-Falih highlighted the Kingdom’s resilience in overcoming major challenges such as the COVID-19 pandemic, oil price fluctuations, and regional tensions. He credited Saudi Arabia’s large reserves and fiscal stability as key strengths that have allowed the national economy to sustain growth.

According to Al-Falih, the non-oil economy has risen by 5%, and the past two years have seen a surge in new investment opportunities in fields including artificial intelligence and digital transformation. He noted that several giga-projects continue to advance and are preparing to open in the near future.

The minister reaffirmed Saudi Arabia’s strong belief in the power of public–private partnerships (PPP) and the vital role of international collaboration. He also reiterated the Kingdom’s commitment to reducing barriers to trade and creating a business-friendly environment.

Panel participants highlighted that energy-related sectors remain among the most promising areas of innovation, with public–private cooperation accelerating progress toward shared global objectives. They also stressed the importance of aligning both sectors to face challenges effectively, enhance operational flexibility, and unlock new investment opportunities that contribute to overall market balance.