Minister of Investment: Vision "Kingdom 2030" Aiming at economic diversification and reducing dependence on oil
The Shura Council was held today, Monday, Minister of Investment Engineer Khalid bin Abdulaziz Al-Falih and the delegation accompanying His Excellency, expressing His thanks to His Excellency the Minister for his presence and participation in the fifteenth regular session of the Council of the work of the second year of the ninth session, which comes from the desire and keenness of the Council to contribute by presenting constructive visions and proposals, and discussing inquiries and observations related to the competencies of the Ministry of Investment, the achievements it has achieved, and the challenges it faces, in addition to existing initiatives and projects. And the future.
Leadership support for development sectors
His Excellency Dr. Abdullah Al Sheikh stressed that in light of the continuous support given by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister – may God protect them – to various development sectors, the investment system in the Kingdom is witnessing a remarkable rapid development, which has contributed to strengthening The Kingdom’s attractiveness for qualitative investments, achieving the goals of the National Investment Strategy, and consolidating the Kingdom’s position as a global investment destination, in line with the ambitions of the Kingdom’s Vision 2030.
His Excellency expressed his hope that this meeting will be crowned with the desired results, contributing to the development of the investment system, in fulfillment of the aspirations of the wise leadership – may God protect it – and meeting the hopes and aspirations of citizens, in light of what it is witnessing. The Kingdom is witnessing a comprehensive development renaissance in all fields.
Speech of the Minister of Investment
After that, His Excellency the Minister of Investment, Engineer Khalid Al-Falih, delivered a speech before the Council, in which he expressed his happiness at attending the Shura Council session to discuss investment files, answer the inquiries of Council members, listen to their proposals, and clarify what the Ministry has done in the past stage, and its plans and programs for the next stage, with God’s help.
His Excellency the Minister of Investment extended his thanks and appreciation to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and to His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister – may God protect them – for their continuous support and directives to support and stimulate the investment system.
His Excellency also expressed his sincere thanks to His Excellency the Speaker of the Shura Council, Sheikh Dr. Abdullah bin Mohammed bin Ibrahim Al Sheikh, and Their Highnesses, Excellencies, and Excellencies, honorable members of the Council, for the kind invitation to attend the fifteenth regular session of the work of the second year of the ninth session. To the Council, His Excellency stressed that his attendance at the session and the discussion of investment issues under the dome of the Shura Council comes within the framework of fruitful cooperation between the Shura Council and the Ministry of Investment, to achieve the interest of the nation and the citizen, and in a way that supports the achievement of comprehensive development goals and the objectives of the Kingdom’s Vision 2030.
His Excellency the Minister of Investment gave during the session a presentation on the plans and programs that the Ministry of Investment has accomplished, and the achievement of its goals and future plans.
The Kingdom’s Plan for Economic Diversification
His Excellency the Minister of Investment confirmed Invest that vision "Kingdom 2030" It placed economic diversification and reducing dependence on oil among its most important priorities, by raising the private sector’s contribution to comprehensive economic development, supporting national sectoral priorities, and supporting the growth of the Kingdom’s gross domestic product.
In his speech, His Excellency reviewed the qualitative steps that contributed to empowering the private sector, most notably the establishment of the Ministry and the Saudi Investment Marketing Authority, and the launch of programs "a partner"His Excellency the Minister of Investment said that the Cabinet’s adoption of the National Investment Strategy launched by His Highness the Crown Prince – may God protect him – in 2021 AD, and its activation began in 2022 AD as a comprehensive national framework, has a major role in maximizing the status of investment as an engine of economic growth. More than 2,000 investment opportunities, worth more than one trillion riyals, indicating the transfer of opportunities published through the platform "Invest in Saudi Arabia" To 346 closed deals, with a total value exceeding 231 billion riyals.
His Excellency the Minister of Investment stressed the role achieved by the program to attract regional headquarters, as more than 700 international companies were licensed by the end of 2025 AD, exceeding the target of 2030 AD set at 500 companies, indicating that the companies are distributed among various sectors that enhance the Kingdom’s position as a regional business center.
His Excellency announced during He spoke about recording a 10-fold growth in active investment licenses, increasing from 6,000 licenses in 2019 to reach 62,000 licenses by the end of 2025, stressing the role of companies in creating more than a million job opportunities, including many national cadres.
His Excellency pointed to the Kingdom’s success in attracting 20 of the 30 largest banks in the world, as part of efforts to enhance the presence and activity of the largest asset managers. And international banks to support the Saudi banking sector.
During his speech under the council, His Excellency the Minister of Investment spoke about developing systems to enhance the competitiveness of the business environment, such as the civil transactions system, the companies system, and the updated investment system issued in mid-2024 AD, stressing the contribution of legislative improvements in advancing the Kingdom 15 places in the global competitiveness ranking.
His Excellency Engineer Khalid Al-Falih also announced the update of the national investment strategy in 2025 AD, in order to focus on "Quality and productivity"And directing investments towards sectors with the highest economic impact and developing financing solutions for small and medium enterprises.
Most important inquiries and interventions
After His Excellency the Minister of Investment reviewed the initiatives undertaken by the Ministry, members of the Shura Council presented to the Minister of Investment during the session a number of inquiries and interventions related to the Ministry’s competencies.
Where Council member and Chairman of the Trade and Investment Committee, Ms. Hanan Al-Samari, raised an inquiry about fair competition for the local investor, while attracting foreign investments, His Excellency the Minister Domestic investor investment is one of the Ministry’s priorities, stressing that work is continuing towards investment efficiency and competitiveness for all investors.
In an answer to His Excellency the Minister regarding the role of investment events held in various regions of the Kingdom, His Excellency the Minister of Investment stressed that the investment events held in various regions of the Kingdom are important for displaying and marketing the qualitative opportunities that characterize each region, explaining that the Ministry is a partner in regulation and marketing, in cooperation with the chambers of commerce, region development bodies and relevant government agencies, and seeks to invest in the competitive advantage of each region including It suits it.
Commenting on a question about the role of the Ministry of Investment in localizing the foreign private sector, His Excellency Engineer Khalid Al-Falih pointed out the importance of this, citing the experience of Aramco, and the Kingdom’s trend since the era of the founding king – may God have mercy on him – towards localization, which accelerated the pace of development in the Kingdom, and in the rise of major national companies competing at the international level.
In a question about attracting investors and empowering them in the education sector, His Excellency the Minister of Investment indicated that education is one of the most important targeted sectors, due to its important role. In creating efficient and knowledgeable generations, which contributes to achieving the Kingdom’s Vision 2030, serves economic diversification, and achieves sustainable development with the minds and hands of the creative people of the nation.
In a question regarding the evaluation of investment legislation, His Excellency Khalid Al-Falih indicated that the Ministry has moved to update the National Investment Strategy in 2025, to enhance competitiveness in attracting investments, in light of international changes and increasing global competition, so that we move towards sectors with the highest economic impact.
In a question about Strengthening competitive neutrality, His Excellency the Minister of Investment Khalid Al-Falih praised the integration between the Ministry and all national bodies to support the investment environment, especially in the investment system that emphasized the principle of competitive neutrality and reciprocity, noting that the approval of the system supported the Kingdom’s progress in the most prominent international indicators.
His Excellency the Minister of Investment also answered a number of inquiries and questions received from citizens regarding the investment system in the Kingdom and the plans and programs that the Ministry of Investment has accomplished, and the achievement of its goals and future plans, in order to achieve For the objectives of the Kingdom’s Vision 2030.
Attending the session
The session was attended by His Excellency Eng. Ibrahim bin Youssef Al-Mubarak, Assistant Minister of Investment, Dr. Abdullah bin Ali Al-Dubaikhi, Assistant Minister of Investment, Mr. Al-Amin bin Muhammad Al-Shaibani, Undersecretary for Strategy and Institutional Excellence, Mr. Saad bin Ali Al-Shahrani, Undersecretary for Economic Affairs and Investment Studies, Mr. Ayed bin Hadi Al-Otaibi, Executive Affairs Advisor, and Mr. Abdul-Hakim bin Faleh Al-Shehri, General Supervisor of the Office of His Excellency the Minister, Mr. Faris bin Muhammad Al-Qarni, Undersecretary for Policy and Legislation, and Mr. Hassan bin Ali Al-Dahim, Senior Advisor to His Excellency the Minister.
The session was also attended by a number of members of the Shura Council in its previous sessions in appreciation of their efforts, namely His Excellency Mr. Muhammad bin Hamoud Al-Mazyad, former Assistant Minister of Finance, Dr. Muhammad bin Abdullah Al Abbas, Advisor to the General Secretariat of the Council for Universities Affairs, Dr. Hani bin Youssef Khashoggi, a former faculty member at King Saud University, and Engineer Abdul Mohsen. Bin Muhammad Al-Zakri, member of the Supreme Advisory Committee for the Kingdom’s Endowments, Professor Khalid bin Muhammad Al-Bawardi, Chairman of the Board of Directors of Al-Bawardi Holding Group, Professor Issa bin Muhammad Al-Issa, former Chairman of the Board of Directors of Samba Financial Group, and Professor Hoda bint Abdul Rahman Al-Halisi, former Vice Dean of the College of Languages and Translation at King Saud University.
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