Saudi Arabia: An Up-and-Coming Destination Worth Discovering
Saudi Arabia is quickly becoming a global powerhouse. By 2023, the country achieved 87% of Vision 2030 goals, boosting non-oil revenues to $121.8 billion and reducing unemployment to 7.7%. These milestones reflect the kingdom's commitment to sustainable growth. Furthermore, Vision 2030 elevated Saudi Arabia to third place among G20 countries in economic competitiveness, driven by reforms in performance, infrastructure, and efficiency, positioning it as a global economic player.
In addition, at the World Economic Forum, Saudi Energy Minister Prince Abdulaziz emphasized reducing carbon emissions and exploring clean energy solutions, showcasing Saudi Arabia's commitment to addressing climate change. Finally, we announce our new Saudi Arabia Job Market Overview report that is available to download now.
Exceeding Expectations: Saudi Arabia's Vision 2030 Journey Towards Sustainable Growth
?Saudi Arabia's Vision 2030 has exceeded expectations, with 87% of its initiatives completed or in progress by 2023. Non-oil revenues surpassed $121.8 billion, contributing 50% to the GDP. Reforms attracted over 180 international companies, reducing unemployment to 7.7%, with female participation at 35.5%. Small and medium enterprises flourished, growing over 200%. Initiatives like the SME Bank supported this growth, enhancing economic development. Overall, Vision 2030 reflects Saudi Arabia's commitment to sustainable growth and economic diversification, positioning it for a prosperous future.
Halian's Saudi Arabia Market Overview Report is available now!
Dive into the FREE Saudi Arabia Market Overview Report to uncover detailed insights into the country's economic landscape, employment trends, and regulatory framework. Don't miss out on valuable perspectives about the Saudi Arabian job market today.
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Elevating Economic Competitiveness: Saudi Arabia's Vision 2030 Success Story
Saudi Arabia's Vision 2030 has propelled it to the forefront of global economic competitiveness, surpassing major players like China, Germany, and the UK. Launched in 2016 by Crown Prince Mohammed bin Salman, Vision 2030 ranks third among G20 nations and 17th globally. Notable achievements include advancements in economic, governmental, and business efficiency, alongside infrastructure development.
The Public Investment Fund's role in economic diversification and the focus on the logistics sector have solidified Saudi Arabia's position as a leading hub. Collaborative efforts between government, citizens, private sector, and international partners have been instrumental in this progress. As Saudi Arabia enters 2024, it's poised for further global transformation.
Saudi Energy Minister Advocates for Diverse, Sustainable Solutions at World Economic Forum
At the World Economic Forum in Riyadh, Saudi Energy Minister Prince Abdulaziz bin Salman highlighted the importance of reducing carbon emissions and exploring diverse energy solutions. He emphasized the need for economically viable choices, including hydrocarbons, nuclear energy, and synthetic fuels, acknowledging the global challenge of climate change and the absence of a universal green energy solution. Despite obstacles, he expressed Saudi Arabia's readiness to collaborate globally and outlined efforts to address energy poverty through partnerships with the Saudi sovereign wealth fund and international allies to develop feasible clean energy models.
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