Saudi Arabia Says Economic Revamp Momentum Intact as Plans Shift

Minister says more investors interested in Saudi giga projects
Kingdom’s non-oil economic growth seen between 4%-5% this year

Saudi Arabia’s Minister of Economy and Planning Faisal Al-Ibrahim speaks about the growth of the country’s non-oil economy and progress on the kingdom’s Vision 2030 economic transformation plan. He speaks to Bloomberg’s Joumanna Bercetche on the sidelines of a World Economic Forum event in Riyadh.Source: Bloomberg

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By Abeer Abu Omar and Joumanna Bercetche

April 29, 2024 at 12:02 PM UTC

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Saudi Arabia signaled little concern over having to delay or adjust some of the biggest projects conceived as part of its economic transformation plan, with a top official saying momentum is “moving very steadfastly” as the kingdom presses ahead with its multi-trillion dollar program.

“We’re focusing on accelerating diversification,” Faisal Al-Ibrahim, the Saudi economy and planning minister, said Monday in an interview with Bloomberg Television on the sidelines of a special meeting of the World Economic Forum in Riyadh.