This year, we celebrated the 10th anniversary of Saudi Vision 2030, a strategy that laid roads toward a more diversified economy that depends less on oil. It also consecrated Saudi Arabia as a country that made dreams come true. Only a decade was needed to witness that transformation, which many doubted could happen. A moment of pride to see the successful execution of over 90 percent of the vision’s target indicators, but also carries a responsibility, and a time to assess the market’s maturity.
The national shift
In the last decade, the Saudi investment schemes have shifted from scale-driven funding to ‘smart capital’. The move was supported by strong governance and technology, and backed by government frameworks and entities. The synchronic and comprehensive activity has successfully attracted local and global investment into high-impact sectors improving jobs and quality of life. It also drove a wave of direct and indirect investments. Today, the non-oil sector contributes more than half of the Kingdom’s $1.3 trillion GDP. That enhances Saudi Arabia’s position globally as a country with a diversified economy adopting digital transformation in different aspects. More specifically, the Public Investment Fund acts as a key market enabler, building new sectors, funding early infrastructure, and setting governance standards. By taking on high upfront investment and coordinating with government entities, it prepares the ground for private and global players to enter with clearer vision and stronger chances of success.
Global investment attractiveness
In December 2023, Saudi Arabia announced that it aims at turning Riyadh into a hub for multinationals. Offering various exemptions as well as many other facilitations to foreign companies that move their headquarters to Riyadh, by April 2026, 700 multinationals had answered that call. These include Bank of New York, Citigroup, IBM, Baker Hughes, Samsung, Deloitte, PwC, IHG Hotels & Resorts, and PepciCo. Policies, attractives schemes, and dynamic frameworks have all contributed to make that happen. The change from the Saudi General Investment Authority toward the Ministry of Investment of Saudi Arabia, emphasized sustained economic development and the government’s longer vision in attracting global companies. The latters are now finding clearer pathways into the country, and this is why we can see it translated in both funding appetite and skilled knowledge. This has also increased netinflow of Foreign Direct Investments toward SAR 122.4 billion (USD 32.6 billion) in 2025.
The role of the private sector
The Saudi private sector has grasped the opportunity offered by the government to become a key partner and orchestrator of the local economy. We’ve seen this in more active private involvement that contributed support, guided by monetary investments or ties to global groups. Today, the private sector’s contribution to GDP reached 51%. Digital strategies created routes that altered conduct, leading citizens toward different ways of engaging, and purpose arose from organizational mandates as well as from individual choices to adopt technology in routine life. When it comes to SMEs, they have also been given more space and power to make an impact, contributing almost 23% to the economy. We shouldn’t forget the major role fintech has been playing as a national enabler for all these developments. The sector has rapidly contributed to improving accessibility for individuals and businesses. Strong growth potential is attracting support from government programs and banks, while new platforms are opening opportunities to participate in areas like real estate with limited capital.
