Saudi Arabia reports 93% Vision 2030 progress as investment shifts toward domestic industries

Saudi Arabia has achieved 93% of the targets set under its Vision 2030 programs and strategies, HRH Prince Mohammed bin Salman, the Crown Prince and Prime Minister, said on Wednesday.

Opening the third year of the ninth session of the Shura Council on behalf of King Salman, the Crown Prince highlighted strong growth in non-oil exports, a larger private-sector role in the economy and advances in digital government, cybersecurity and logistics.

The Crown Prince said the changes of the past decade had demonstrated the importance of economic diversification as the Kingdom responds to shifts in the global economy.

“Long-term planning does not mean rigidity or stagnation; it means the ability to adapt to changing circumstances,” he said.

He added that the resilience of the national economy, the maturity of the business sector, the strength of state institutions and fiscal sustainability had been further demonstrated by current regional conditions.

Much of that progress has been driven by investment in non-oil activities and a stronger role for the private sector. According to a Saudi Press Agency report, non-oil exports have increased 155% since 2016, while the private sector’s contribution to the economy has risen to 51%.

The next phase of the strategy is focused on building stronger domestic industries. The Public Investment Fund has begun implementing its strategy for the next five years, focusing on developing competitive domestic sectors in partnership with the private sector, increasing local content and generating sustainable financial returns.

The National Development Fund is also supporting the development of several sectors through annual financing to meet strategic targets.

Technology and digital development were a focus of the Crown Prince’s remarks, with Saudi Arabia continuing to expand its capabilities across government and industries.

The push is also reflected in the Kingdom’s technology and digital rankings. Saudi Arabia ranked first in the Digital Readiness Framework, the ICT Development Index, and a cybersecurity indicator, while ranking second in the GovTech Maturity Index, the Crown Prince said. The Kingdom has also entered the world’s top 10 jurisdictions for mining investment attractiveness.

The government has designated 2026 as the Year of Artificial Intelligence, highlighting its ambition to become a global leader in AI applications and solutions while using the technology to boost productivity, improve public services, and develop Saudi talent through initiatives that support these goals.

The Crown Prince said many of those reforms had translated into gains across employment, housing, education, and healthcare.

Against the backdrop of disruptions in global energy markets, the Crown Prince added that Saudi Arabia had continued to supply oil to international markets despite escalating tensions, describing the Kingdom as a safeguard for global energy security.

HRH the Crown Prince said Saudi Arabia’s transport and logistics system had demonstrated its ability to respond to disruptions in global supply chains and maintain the flow of goods and services.

He said the Kingdom would continue working with international partners to strengthen cooperation, reduce escalation, and defuse tensions. He also called on the international community to fulfil its responsibilities to ensure the safe flow of essential goods and humanitarian assistance.

The Crown Prince added that Saudi Arabia’s economic policy would continue to focus on developing national capabilities, supporting promising sectors, attracting domestic and international investment, and directing resources towards areas with the greatest economic and social impact.