RIYADH: According to a senior official, Saudi Arabia’s Vision 2030 policy is to develop a vibrant private sector, provide employment for its people, and draw in foreign talent.
On the fringes of the Saudi-US Investment Forum, Economy and Planning Minister Faisal Al-Ibrahim told Fox News that the Kingdom has set out on a revolutionary journey to realise its potential and change its economic story away from oil.
The meeting took place in conjunction with US President Donald Trump’s trip to Saudi Arabia, where a group of prominent business leaders joined him. We want a dynamic private sector,” stated Al-Ibrahim. Although we are a young population, the ageing process will begin in 20 to 25 years. At that point, we should see a government, business, third sector, and academic institution using fully generative AI and other technology tools to increase productivity.
“But also that has created jobs for many Saudis and has been able to attract a lot of talent to come to Saudi Arabia and make it their home,” he continued.
With industries like tourism, culture, technology, sports, and artificial intelligence making substantial contributions to the GDP, the minister underlined that diversification has already started to show results.
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