Saudi Investment Minister Discusses Vision 2030's Impact

During the Fortune Global Forum held in Riyadh, Khalid A. Al-Falih, Saudi Arabia’s Minister of Investment, shed light on the significant advances being made under the Vision 2030 initiative, an ambitious economic reform strategy that has been in place for nearly nine years. Al-Falih characterized 2025 as a "pivotal moment," asserting that "the very foundations of global business are being shaken, in a way, and being rewritten before our own eyes." He pointed to "tectonic shifts" across various sectors, including geopolitics, global trade, technology, supply chains, and energy, stating that these changes are collectively altering how both companies and nations operate, compete, and create value for their stakeholders.

In a discussion with Fortune Editor-in-Chief Alyson Shontell, alongside industry leaders like Ruth Porat, President and Chief Investment Officer of Alphabet, and C.S. Venkatakrishnan, CEO of Barclays Group, Al-Falih expressed concern that supply chains remain "pushed to the limit" more than five years after the pandemic began. He emphasized that "supply chain resilience for both companies and nations, as well as policymakers and governments, is dominant," and also noted that digital disruption represents a crucial turning point.

Saudi Investment Minister Discusses Vision 2030's Impact Al-Falih articulated a deeper human concern that is shaping the actions of leaders today: "I believe people are looking for partners with whom they can trust who are not short-term, transactional." He framed Saudi Arabia’s Vision 2030 not merely as a national reform agenda, but as a model for global collaboration based on mutual resilience—asserting that sustainable prosperity hinges on shared growth across nations and industries.

"Interdependence remains the defining truth of our time," the minister remarked during his opening address, calling on businesses to pursue cross-border partnerships instead of retreating into protectionist stances. He portrayed the Kingdom as a "platform for global growth," insisting that resilience in the modern economy demands openness, innovation, and integration with like-minded partners. His message was unmistakable: Saudi Arabia is positioning itself to be the most dependable investment destination for companies navigating geopolitical uncertainties, evolving supply chains, and the transition to green energy.

Since its inception in 2016, under the vision of Crown Prince Mohammed bin Salman, Vision 2030 has significantly altered Saudi Arabia’s economic landscape. Al-Falih highlighted that non-oil sectors now constitute 56% of the national GDP, an increase from 40% at the program's beginning. Unemployment has decreased to below 7%, while the participation of women in the labor force has more than doubled to reach 37%, surpassing initial reform targets, according to the latest World Bank data which indicates 34%.

Furthermore, Saudi Arabia's capital markets have risen to prominence, now ranking among the world's top 10 and attracting a wide array of international investors, as highlighted by the Brookings Institution. This trend underscores the effectiveness of Vision 2030 in reshaping the Kingdom's economic framework and fostering a more diversified and resilient economy.