The Minister of Industry reviews the achievements of Vision 2030 in Washington
The Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef, reviewed the most prominent achievements of Saudi Arabia’s Vision 2030 since its launch. This came during his active participation in a dialogue session hosted by the Center for Strategic and International Studies (CSIS) in Washington, D.C., entitled “Saudi Vision 2030 in its Tenth Year.” The Minister highlighted the qualitative transformations and successive stages that the Kingdom has witnessed in various fields, reflecting the maturity of the Saudi experience as an effective and influential development model on a global scale.
The strategic foundations that paved the way for achieving the accomplishments of Vision 2030
Since Crown Prince Mohammed bin Salman launched Vision 2030 in 2016, the Kingdom has set its sights on reducing its reliance on oil as its sole source of income and moving towards building a diversified and sustainable economy. This step marked a historic turning point in the country's journey, as many vital sectors were restructured and regulations and legislation were modernized to align with global standards. The achievements of Vision 2030 today are the fruit of years of meticulous planning and tireless work to develop infrastructure, empower youth and women, and open the Kingdom's doors to foreign investment and global tourism, thus completely reshaping the economic and social landscape.
Strengthening the resilience of the national economy and expanding partnerships
During the session, Al-Khorayef emphasized that the Vision represents a comprehensive strategic framework for economic transformation, which has directly contributed to enhancing the resilience of the national economy in the face of global challenges. These efforts have resulted in opening new horizons for international partnerships and solidifying the Kingdom's position as a reliable partner in supply chains and future industries. He highlighted the rapid growth and progress witnessed in the industrial and mining sectors, thanks to the national strategies associated with these two vital sectors.
The regional and international impact of the Saudi transformation
The transformations taking place in Saudi Arabia are not only significant domestically, but their impact extends far beyond, creating widespread resonance at both the regional and international levels. Domestically, these initiatives have contributed to developing national capabilities, creating thousands of jobs, and improving the quality of life for citizens and residents. Regionally, the Kingdom has strengthened its role as an engine of economic growth in the Middle East, supporting regional stability and integration. Internationally, Saudi Arabia has become a key player in stabilizing renewable energy markets and supply chains, and a major attraction for leading global companies seeking a secure and stimulating investment environment.
Industry and mining as pillars of the future
In addition to the significant strides made in enhancing the competitiveness of Saudi industries and expanding the production base, the Minister highlighted the remarkable development in the legislative and investment environment, which supports sustainable growth. He explained that industry and mining represent two fundamental pillars in the economic transformation process, pointing to the enablers and qualitative initiatives launched by the industrial and mining sector to attract local and international investments. Through these efforts, the Kingdom seeks to achieve sustainable industrial development and build a competitive industrial economy capable of keeping pace with regional and international changes, making the Saudi experience a global benchmark to be emulated.
