Faisal Al-Ibrahim: non-oil economy has grown by 20% since ‎launching Saudi Vision 2030‎

Faisal bin Fadel Al-Ibrahim, Minister of Economy and Planning, participated in the “Green Saudi Arabia” initiative forum within the twenty-eighth Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), which brings together world leaders in the city of Dubai to conduct climate negotiations, in a session Dialogue entitled “Opening the financial space to finance climate action” alongside Dilma Rousseff, President of the New Development Bank.‎

Al-Ibrahim confirmed that the Kingdom has achieved growth rates of 50% since the launch of Saudi Vision 2030, and the non-oil economy has grown by 20% since the beginning of Saudi Vision 2030.

The session focused on the importance of high-impact investments in promoting comprehensive growth and supporting innovative methods to address climate change

In the context of developing institutional capabilities, he said: “As education levels increase, this is reflected in the strength of our institutions in terms of their ability to make the right policies,” stressing that “Saudi Vision 2030 is the cornerstone of plans for economic diversification, empowering youth, and building stronger institutions”, investing in other sources, such as the non-oil economy, benefiting from non-oil revenues, engaging the private sector more, and opening up to the world.

The participation of the Ministry of Economy and Planning in the COP28 conference is consistent with the great strides made by the Kingdom in achieving sustainable development goals, which confirms the possibility of achieving economic development while preserving environmental resources to achieve a sustainable future within the framework of the Kingdom’s Vision 2030 action plan.