Saudi Arabia’s Vice Minister of Finance, Abdulmuhsen Alkhalaf, took part in the 2025 MOMENTUM Development Finance Conference held in Riyadh. Speaking at a session focused on the country’s economic diversification efforts, Alkhalaf emphasized that Saudi Vision 2030 is a deliberate and strategic plan rather than a response to short-term economic changes.
“Saudi Vision 2030 is not a reaction to a temporary economic circumstance, but rather a strategic choice to build an economy that creates opportunities, attracts investment, innovates solutions, and achieves financial sustainability,” said Alkhalaf.
He highlighted how Vision 2030 has aimed to strengthen the private sector’s role in job creation and support for economic growth. This has been pursued through regulatory reforms, enhanced competition policies, and new entrepreneurship programs. According to Alkhalaf, these measures have empowered businesses to contribute more effectively to the nation’s development goals.
Alkhalaf also pointed out the importance of the development system under Vision 2030. “The development system, including the National Development Fund, is one of the most important tributaries of the Vision, as since its launch, development financing has turned into a coherent and strategic system that directs capital towards projects with the highest economic and social returns,” he said.
He concluded by attributing increased foreign direct investment in Saudi Arabia to what he described as clear objectives and credibility within Vision 2030. “The biggest factor in the rise in Foreign Direct Investment (FDI) in the Kingdom is the clarity and credibility of the Vision, which has created a realistic and opportunity-rich environment for global investors,” Alkhalaf stated.
