Saudi Arabia prioritizes green growth and non-oil economy in Vision 2030’s final stretch

Saudi Arabia is placing sustainability at the center of its economic agenda as Vision 2030 enters its final years, with economic diversification, green industries, and private-sector investment emerging as key priorities.

According to the Ministry of Economy and Planning’s 2026 Voluntary National Review, said the Kingdom will need renewed commitment, adaptive strategies, and accelerated action to maintain momentum toward its long-term development goals.

The report identifies sustained non-oil GDP growth, attracting sustainable foreign direct investment (FDI), reducing regional economic disparities, and strengthening sustainability across industry and mining as priorities through 2030 and beyond.

According to the review, it also positions environmental industries as a major growth opportunity, highlighting sectors such as clean energy, recycling, environmental monitoring, carbon management, and water efficiency as areas expected to attract greater investment.

The report points to initiatives under the Saudi Green Initiative, including a target to reduce carbon dioxide equivalent emissions by 278 million tonnes annually by 2030 through renewable energy, afforestation, land conservation, and waste management projects.

Among them is a Riyadh waste management project that aims to divert 94% of waste from landfills while composting more than 1.3 million tonnes of biodegradable waste, creating new opportunities across environmental services and sustainable infrastructure.

The review also highlights the need to broaden economic growth beyond the Kingdom’s major economic centers by reducing regional disparities through investment, infrastructure development, and stronger participation in the non-oil economy.

Maintaining non-oil GDP growth remains central to Saudi Arabia’s economic transformation, while sustainable FDI, industrial development, and mining are expected to play a larger role in supporting future growth and strengthening local supply chains.

In the report’s foreword, Minister of Economy and Planning Faisal Alibrahim said Saudi Arabia’s development trajectory has “fundamentally shifted” under Vision 2030, noting that the Kingdom’s economy has surpassed the $1 trillion mark and that non-oil activities are growing faster than oil-related sectors.