Saudi Arabia aims to boost female workforce participation to 40% by 2030, exceeding its previous target of 30% under Vision 2030. During the Future Investment Initiative in Riyadh, Finance Minister Mohammed Al-Jadaan emphasized that the Kingdom has made considerable progress, noting that women currently make up 45% of small and medium enterprise owners.

Increasing female participation in the workforce is a central objective of Saudi Arabia’s Vision 2030 economic diversification plan. To further this aim, the Kingdom hosted the HERizon Summit, themed “Invest in Women.” At the summit, experts explored strategies to enhance women’s roles in the global workforce.

Al-Jadaan noted that since the launch of Vision 2030, female workforce participation has increased from 17% to 35%, surpassing the kingdom’s target of 30% for 2030. He also highlighted that this rise in women’s participation is fueling growth in consumption and household income.

In his speech, Al-Jadaan emphasized the progress of Saudi Arabia’s Vision 2030, highlighting that the government’s economic diversification efforts are producing tangible results. He noted that the Kingdom’s non-oil gross domestic product now accounts for 52% of the economy, describing this as a significant achievement for Saudi Arabia.

Al-Jadaan also noted that the unemployment rate among Saudi nationals has decreased to 7.1%, approaching the 2030 target of 7%. He further stated that 87% of the Vision 2030 objectives have either been achieved or are on track, with the remaining 13% actively being pursued.