Saudi Minister of Economy and Planning Faisal bin Fadel Al-Ibrahim said the Kingdom has reached the halfway point in its journey towards Vision 2030, reported the Saudi Press Agency on Tuesday.
He made his remarks at a panel discussion at the World Economic Forum's Annual Meeting of the New Champions (AMNC24) in Dalian, China.
The minister discussed the rapid growth of non-oil activities since implementing the Kingdom's Vision 2030.
The minister said: "The Kingdom achieved an economic growth rate of 8.7% in 2022, with non-oil activities contributing 5.6%. Non-oil activities account for 51% of the real gross domestic product, surpassing the oil economy.”
“The Kingdom has reached the halfway point in its journey towards Vision 2030 and will continue to prioritize economic diversification and human capital development,” he stressed.
Furthermore, he highlighted the Kingdom's role in energy security and climate action, stating that it is a major producer of clean hydrocarbon energy and has made significant strides in renewable energy, including green hydrogen, solar, and wind energy.
The minister emphasized the need for a comprehensive and integrated approach to address global economic challenges and stressed the importance of international cooperation, innovation, and comprehensive solutions.
