Saudi Gazette report

RIYADH — Saudi Arabia's Minister of Finance Muhammad Al-Jadaan said that Saudi Arabia’s Vision 2030 has passed the test of the coronavirus pandemic.

“Reforms, legislation, government investments, and the goals of the vision have played a key role in helping the economy deal with unprecedented circumstances,” he said while speaking at the Future Investment Initiative (FII) conference here on Wednesday.

Al-Jadaan said that the Kingdom had, through Vision 2030, clear targets. “It was a difficult journey over the past four or five years, but the Kingdom has achieved its desired results, and then we had the coronavirus pandemic that tested the extent of strength and success of the plans and reforms,” he pointed out.

The minister emphasized that investment opportunities in the Kingdom are enormous some of which are in traditional industries while some others are in industries that we are focusing on now, such as climate change, as well as the renewable energy sector.

Al-Jadaan considered that the success of investments, and the flexibility of legislation and regulations, which have improved greatly over the past years, made it easier to do business and make investments. This also facilitated the provision of data, integration of youth, development of budget management, and raise spending efficiency in general.

Al-Jadaan also spoke about the Gulf competition and integration in various investment sectors, stressing the importance of working to empower the private sector and supporting the youth in the region.