“Super Return” Conference… Al-Khalaf confirms the achievement of important achievements in economic diversification in the Kingdom

The Deputy Minister of Finance confirmed that the Kingdom has made great strides towards its ambitious goals of Vision 2030, in which many aspirations regarding economic diversification have been achieved.
This came during his participation today, Monday, in the “Super Return” conference, which was held in Riyadh, in the presence of leaders of investment fund and venture capital managers, in addition to financial experts.

Growth of non-oil activities

During his speech at the conference, Al-Khalaf highlighted the economic conditions that the Kingdom is going through and future prospects, noting that the reforms that were implemented under the vision helped in the growth of the Kingdom, bringing its contribution to 52% of the real gross domestic product until the third quarter of 2024.
He stressed that the growth momentum of non-oil GDP will continue in the medium term.
He pointed out that the contribution of private investment to the gross domestic product rose from 14.6% in 2016, to 23.4% until the third quarter of 2024, which reflects a competitive and dynamic environment aimed at enhancing investment in vital and promising sectors.

Growth of banking sector assets

The Deputy Minister of Finance noted that the Kingdom has one of the fastest growing capital markets in the world, and the assets of the Saudi banking sector have grown to reach more than one trillion dollars in 2023.
The number of small and medium-sized companies has nearly doubled since 2016, and the percentage of Saudi female ownership in them has risen to 45%.
Al-Khalaf stressed that these developments are an ongoing process that takes the opinions of all stakeholders into consideration and builds on them, as the Kingdom works to put the private sector in the driving seat and achieve its full potential.

Discuss financial market opportunities

The Super Return Conference is one of the largest global conferences specialized in the fields of venture capital and private equity investment, as it brings together investors, fund managers and financial experts from all over the world to discuss the latest trends and opportunities in the financial and investment markets.