Saudi Arabia Positioned for Sustained Economic Development
In a recent statement, Saudi Arabia’s finance minister emphasized the country’s strong foundation for economic growth, citing its savings, natural resources, and state capabilities as key advantages.
Speaking at the OPEC Fund Development Forum and Ministerial Meeting in Vienna, Mohammed Al-Jadaan recognized the challenges faced by low-income developing nations, while emphasizing the importance of each country’s actions in driving long-term economic development.
Saudi Arabia’s commitment to sustainable development is evident through its status as the largest provider of official development assistance in the Gulf region. The government’s efforts align with its goal of becoming a global leader in sustainable development.
As part of Vision 2030, Saudi Arabia is strategically diversifying its economy and boosting non-oil revenues. This initiative focuses on opening up new sectors to support sustainable growth in production and non-oil exports.
Al-Jadaan also highlighted the country’s efforts to increase female workforce participation, improve education and training for Saudi youth, and enhance the investment ecosystem for small- and medium-sized enterprises in the private sector.