Samaher Saif Al Yazal
The Kingdom of Saudi Arabia is witnessing, under Vision 2030, a series of strategic transformations that have been reflected in various economic and social sectors. Exports recorded a qualitative leap with a 96.3% of the target, while the Public Investment Fund continued its accelerating growth by multiplying its assets by more than 390% between 2016 and 2024, bringing the annual growth rate of compound growth 22% with the target raised to 10 trillion riyals by 2030.
On the labor market level, reforms contributed to the empowerment of women in an unprecedented way, as their heroes decreased from 34.5% to 11.9% in nine years, and youth unemployment decreased to historical levels, and the number of Saudis working in the private sector increased to more than 2.4 million employees.
These achievements are parallel to the Kingdom’s efforts in diversifying sources of income and enhancing the non -oil economy, as well as spreading a culture of volunteering, and enhancing transparency through new regulatory entities and platforms for open data. The “Saudi Green” and “Green Middle East” initiatives also established the Kingdom’s commitment to sustainability and environmental protection, to confirm these indicators together the success of the march of historical transformation towards a more prosperous and pioneering future.
The Saudi National Day comes this year to reflect the image of a homeland who lives a comprehensive renaissance in various fields, led by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, and in an active and pivotal role for His Royal Highness Prince Muhammad bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, who launched the Saudi Vision 2030 as a historical transformation plan that made the Kingdom stand on the outskirts of unprecedented qualitative achievements.
Since the launch of the 2016 vision, the Kingdom has set itself with major strategic goals based on three basic pillars: Arab and Islamic depth, global investment power, and the strategic geographical location that makes Saudi Arabia a focus to connect the continents. Nine years later, it is clear that the Kingdom has exceeded many of its targets and approached its major ambitions.
What was achieved in only nine years demonstrates the ambitious vision of the Crown Prince, who was able to lead the kingdom towards a comprehensive strategic shift that made it a center of opportunities and prosperity. The Saudis renew the determination to continue the march towards a future worthy of the Kingdom’s position and regional and international leadership.
Achievements of the Public Investment Fund
One of the most prominent indicators of success was what the Public Investment Fund achieved, as its assets have multiplied by more than 390% from 2016 to 2024, with an annual growth rate of 22%. The goal when launching the vision was to raise the funds of the fund to 7 trillion riyals by 2030, but the outstanding performance raised the target to 10 trillion riyals. This achievement is attributed to a pre -emptive strategy that focused on Saudi companies (40% of the portfolio), the promising sectors (27%), in addition to major strategic investments such as NEOM, the Red Sea and the Capillary.
Crazers in exports and global trade
The Kingdom has recorded continuous progress in the export sector, as oil, gas exports and chemical products increased for four consecutive years since 2019, making 96.3% of the stage target, with a complex annual growth rate of 41%. This came as a result of the efforts to support and financing exporters, enhance the local supply chain, and the entry of Saudi companies into new global markets.
Low unemployment rates and women’s empowerment
In the labor market, the Kingdom has achieved prominent results in reducing unemployment among Saudis. The rate of Saudi women’s unemployment decreased from 34.5% in 2016 to 11.9% in 2024, a decrease of more than two thirds, a historical achievement that reflects the success of women’s empowerment initiatives and labor market reforms. Also, youth unemployment decreased to 11.9% compared to 24.6% at the base line, while the number of Saudis working in the private sector reached more than 2.4 million employees.
A prosperous economy and a vital society
Thanks to these reforms, the Saudi economy flourished to become more competitive at the global level, and succeeded in diversifying sources of income and reducing dependence on oil. The Kingdom also continued to invest in digitization and improve the efficiency of government services, which raised the quality of life and facilitated the procedures for citizens and investors.
On the social side, the vision supported the stability of families, pursued the national identity, and was interested in cultural heritage, in addition to strengthening the role of youth and women. The rates of community participation increased, and the culture of volunteering has spread in an unprecedented way, to establish the values of solidarity and solidarity in Saudi society.
Transparency and rational governance
From the beginning, the vision made the promotion of transparency a major goal, as the basis for accountability and goals. New regulatory entities, advanced systems and regulations were established, with the launch of open data platforms, which strengthened the confidence of citizens and investors alike, and raising the level of financial and administrative governance.
Sustainability and environmental protection
In parallel, the Crown Prince launched qualitative initiatives such as “Saudi Green” and “Green Middle East”, to confirm the Kingdom’s commitment to environmental protection and combating climate change, and supporting global sustainable development efforts.
