The potential of our younger generations is one of our most important and cherished assets. To capture it, we will build a culture that rewards determination, and nurtures the skills and opportunities to help them realize their individual potential. To this end, we will enable our economy to generate diverse job opportunities for young Saudis while attracting global talent.
Further opening our country to investment will boost productivity and accelerate our journey to becoming one of the world’s largest economies. This will be achieved by improving our business environment, restructuring our economic cities, creating special zones and deregulating the energy market to make it more competitive.
Diversifying our economy is vital for its sustainability. We have long-term plans to increase our ranking among the 20 largest economies in the world. Despite the headwinds of the global economic slowdown, we are investing significantly in promising new growth economic sectors to further diversify the economy, and privatizing government services.
Saudi Arabia sits at the crossroads of important international trade routes between three continents: Asia, Europe and Africa. We will maximize the benefits of our exceptional geographic position, form new strategic partnerships to grow our economy, and help Saudi companies to increase exports of their products. We will leverage our proximity to energy sources and our distinctive logistical offer to stimulate a new phase of industrialization and boost trade.
To raise the share of non-oil exports increase non-oil GDP from 16% to 50%
To raise our global ranking in the Logistics Performance Index from 49 to 25 and ensure the Kingdom is a regional leader
To increase the private sector's contribution from 40% to 65% of GDP.
To increase foreign direct investment from 3.8% to the international level of 5.7% of GDP
To rise from our current position of 25 to the top 10 countries on the Global Competitiveness Index
To increase the Public Investment Fund’s assets from SAR 600 billion to over SAR 7 trillion
To move from our current position as the 19th largest economy in the world into the top 15
To increase the localization of oil and gas sectors from 40% to 75%
To increase women’s participation in the workforce from 22% to 30%
To increase SME contribution to GDP from 20% to 35%
To lower the rate of unemployment from 11.6% to 7%