+971 52 248 8528
+966 56 233 0183
Saudi Arabia’s landmark national transformation plan, Vision 2030, has now reached around 85 per cent completion or is on track, according to Khalid Al‑Falih, the Kingdom’s Minister of Investment.
Launched in 2016, Vision 2030 is designed to diversify the economy away from oil dependency, boost non-oil sectors, increase employment, and elevate the Kingdom as a global investment and tourism hub.
At the recent Fortune Global Forum in Riyadh, Al-Falih stated that as of the end of 2024, roughly 85 % of the initiative’s targets were either completed or well-on-track. He noted that the non-oil sector now contributes about 56 % of GDP, up from 40 % before Vision 2030’s launch.
Additional highlights include:
- The size of Saudi Arabia’s economy has approximately doubled from US$650 billion to around US$1.3 trillion since Vision 2030 started.
- Over 675 multinational firms have established regional headquarters in Riyadh under the regional-HQs initiative, exceeding the original target of 500.
- Women’s workforce participation has reached 37 %, and unemployment has reportedly fallen to around 7 %, both showing significant progress.
However, Al-Falih also acknowledged that while progress is strong, some large-scale projects under Vision 2030 face logistical, cost and time-frame challenges.
For J K Management Consultancies, this announcement underscores the widening opportunity landscape in Saudi Arabia: from licensing and compliance to investment facilitation and company-formation services. As Saudi Arabia advances toward its 2030 milestones, demand for expert advisory in regulatory processes, cross-border investments and corporate registration is likely to grow.
