Research, Development and Innovation Authority (RDIA)’s Post

"Thrilled to have attended in the insightful “Industrial Policies to Foster Economic Diversification” conference, a collaborative effort by the International Monetary Fund and the Ministry of Finance. The participants delved into strategies for crafting robust industrial policies to spur economic diversification and foster sustainable growth. Excitingly, the conference also marked the inauguration of the International Monetary Fund's regional office in Riyadh, symbolizing a significant step towards closer collaboration and support for economic development in the Kingdom of Saudi Arabia. #EconomicDevelopment #IndustrialPolicies #SustainableGrowth" Ministry of Finance, Saudi Arabia International Monetary Fund

SRMG Think hosted a timely and insightful discussion with Amine Mati, International Monetary Fund (IMF) Mission Chief for Saudi Arabia, on the key findings and policy recommendations of the 2024 Article IV Report.    The virtual discussion was attended by senior policymakers, diplomats, industry leaders and media representatives, and was moderated by Hazar Caracalla, Senior Policy Advisor at #SRMGThink.   Saudi Arabia continues to witness transformative changes, supported by important fiscal and business environment reforms and significant investment in infrastructure, new economic sectors and large development projects. Non-oil GDP growth remains robust and the tourism sector is witnessing a notable boom, while inflation remains contained and unemployment for Saudi nationals is at an all-time low. Maintaining the course on the reforms agenda is key to achieve a sustainable shift towards a private sector driven economic diversification. #SaudiEconomy #IMF #Vision2030 #EconomicDiversification #BusinessReforms #SustainableTransformation

Saudi Minister of Economy and Planning, Faisal Al-Ibrahim, clarified in a statement that the $600 billion mentioned by Crown Prince Mohammed bin Salman during his conversation with former U.S. President Donald Trump is not a random figure. It reflects a significant volume of investments and purchases spanning both the public and private sectors. The minister emphasized that this figure includes a wide range of strategic projects and investments being channeled into the Saudi economy as part of #Vision2030. These investments cover various sectors, including energy, infrastructure, technology, and industry, involving both local and international partners. He added that the impact of these investments will be exponential, stating that the amount to be invested in the Saudi economy by 2030 will be equivalent to 12 times the announced figure. This highlights the Kingdom’s ambition to achieve a transformative shift in its economy by diversifying revenue streams and reducing its dependence on oil as the primary source of income. The minister further noted that these figures are not just aspirations but are based on well-defined plans and carefully studied strategies aimed at achieving sustainable economic development, creating new job opportunities, and solidifying Saudi Arabia’s position as a global economic powerhouse. He also stressed that efforts are underway, in collaboration with the private sector and international partners, to ensure the realization of these ambitious goals. #SaudiArabia #EconomicGrowth #PublicPrivatePartnerships #SaudiVision2030 #FaisalAlIbrahim #MohammedBinSalman #GlobalEconomy

Regarding economic forecasting of Saudi Arabia's indicators, such as GDP, consumption, investment, international trade and stability (central government budgets, prices, the money supply, and the balance of payments) - I suggest to also include broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources, that is to integrate economics with nature preservation. Those indicators can be used in tracking progress toward SDG Goal 8, promoting decent work and economic growth and Goal 2, which encourages sustainable consumption and production. I also find those indicators critical in tracking the progress of Saudi Vision 2030 implementation, based on its pillars: a vibrant society, a thriving economy and an ambitious nation. Saudi Vision 2030 Ministry of Economy and Planning - MEPsaudi Save Lake Balkhash International Research Project During the last 4 years I have been studying thoroughly the economic systems and strategies of G20 countries and the changes initiated by global pandemics and political turbulence.  Here is my open research library - https://lnkd.in/gq6_kKS https://lnkd.in/gzuYqcpT

🔍 Economic Insight: Saudi Arabia's FDI inflows dropped to $4.8 billion in Q3 2024, an 8% decline from the previous quarter, making it a challenging period for the Kingdom as it strives towards its $29 billion annual target. As the fourth quarter progresses, the Kingdom faces a critical test to meet its ambitious goals under its Vision 2030 initiative. 🌐💰 👉 Read the full article: https://lnkd.in/ea5hB8qz Stay updated on how these developments will impact global economic relations and investment opportunities. #SaudiEconomy #FDI #Vision2030 #EconomicDevelopment

The CCBS applauds the approval of Saudi Arabia’s 2025 Budget, a monumental step toward the ambitious goals of Vision 2030, led by Crown Prince Mohammed bin Salman. This budget reflects the Kingdom’s forward-thinking approach to economic growth, diversification, and global leadership. Key highlights driving this transformation: 1️⃣ Economic Growth: 4.6% GDP growth projected for 2025, showcasing Saudi Arabia as one of the fastest-growing global economies. 2️⃣ Employment: Record-low 7.1% unemployment in 2024, with significant progress in women’s workforce participation. 3️⃣ Diversification: Expansion of non-oil exports and support for emerging industries, strengthening economic resilience. 4️⃣ Key Funds: PIF and other institutions at the forefront of driving innovation and investment. 5️⃣ Global Leadership: Solidifying Saudi Arabia’s position as a cornerstone of regional and international stability. The CCBS sees this as a remarkable example of how strategic reforms and investments can pave the way for a thriving, diversified, and sustainable economy. We are proud to align with these efforts, fostering partnerships that contribute to Saudi Arabia’s ambitious and inspiring journey. #CCBS #Vision2030 #SaudiArabia #EconomicGrowth #SustainableDevelopment #GlobalLeadership #EconomicDiversification #BilateralPartnerships

As part of a new initiative at Silk Road Heritage Consulting Firm, We are excited to introduce special reports focusing on key topics in the global trade and finance landscape. Our inaugural report delves into the rapid growth of Saudi Arabia, offering valuable insights to help you seize new opportunities for your business. If you're looking to stay ahead in the flourishing GCC market, be sure to check out this report. #GlobalTrade #Finance #GCCMarket #BusinessOpportunities #SaudiArabia

🌍 Saudi Arabia’s FDI Surge: A Vision 2030 Milestone! 🌍 Saudi Arabia’s foreign direct investment (FDI) has surged 240% since 2017, hitting SAR 96 billion in 2023. This impressive growth shows Vision 2030 in action—transforming the Kingdom into a global investment powerhouse. Key Highlights: 1. Sector Focus: Manufacturing, finance, and retail now attract 78% of FDI, fueling a stronger, diversified economy. 2. Regional Impact: Eastern Province, Riyadh, and Medina lead in FDI inflows, creating opportunities across the Kingdom. 3. Global Connections: Major partners from the G20, Europe, and Asia reinforce Saudi Arabia’s appeal as a top investment hub. Saudi Arabia sees recent trends in foreign direct investment moving in the right direction, while conceding the kingdom has a long way to go to meet its 2030 goal of attracting $100 billion a year. #SaudiVision2030 #FDI #EconomicGrowth #GlobalInvestment #SaudiArabia

As we are starting 2025 - what lies ahead for Saudi Arabia? In my view, there are 5 things to watch out for: 1) Economic growth: after a recession in 2023, and moderate growth in 2024 (1.7% growth expected) there is an expectation for a return to substantial growth in 2025 (4.7%) 2) Oil production: as I have explained in previous posts the key to economic growth will be the phasing out of voluntary oil production cuts that have affected overall economic growth (the non-oil economy has grown at about 5% on average over the past few years) 3) Budget deficit: the 2025 budget foresees strong revenues of 1.18T SAR, but also a deficit of 101B SAR - about 8.5%. KSA has traditionally been a lot better than Western economies in balancing its budget (debt to GDP levels are below 30%), so this is unusual. It shows a strong commitment to provide continued funding to Vision 2030 objectives 4) Global stage presence: with subsequent wins of the 2030 Expo and the 2034 Football World Cup KSA is looking to increase its experience in hosting larger-scale events. Stay tuned for my coverage of Leap in February, "the world's most attended tech event" as one example of how KSA is increasingly present in larger-scale events 5) The voice for the Global South: KSA has leveraged its geopolitical position (in a complex region), economic strength (investments in developing nations, advocacy for energy transition technologies), diplomatic positioning (mediation and peace efforts, humanitarian support), and membership in global forums (founding member of G20, recent admission into BRICS+) to champion the interests of emerging and developing economies. What is your view on Saudi Arabia? Is progress going in the right direction?

📣 The Kingdom of Saudi Arabia is fourth globally in digital services and first in the region 🌍 The Kingdom of Saudi Arabia jumped (25) ranks in the United Nations E-Government Development Index 2024, to be among the group of leading countries worldwide, and achieved fourth place globally, first regionally and second among the G20 countries in the Digital Services Index, in addition to achieving seventh place in the E-Participation Index, and the city of Riyadh achieved third place out of (193) cities around the world. His Excellency the Minister of Communications, Eng. Abdullah bin Amer Al-Sawaha, expressed his thanks and appreciation to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and to His Highness the Crown Prince, Chairman of the Council of Ministers - may God protect them - for the unlimited support that the technical and digital sector receives and the efforts to support the government's digital transformation. He added that this support was crowned by the Kingdom's digital superiority and leadership, which reflects the plans and programs of Vision 2030 and at the same time enhances the Kingdom's role as an effective and influential leader in the digital economy at the regional and global levels, stressing the Kingdom's determination to move forward in the journey of leadership, pioneering and transformation towards a national economy based on innovation. #saudiarabia #digitalservices #digitaltransformation #digitalleader