HRH Prince Mohammed bin Salman, the Crown Prince and Prime Minister, stated that Saudi Arabia has accomplished 93 percent of the objectives outlined in its Vision 2030 initiatives and strategies following ten years of reforms that have changed the Kingdom's economy and bolstered its ability to withstand external challenges.
Commencing the third year of the ninth session of the Shura Council on behalf of King Salman, the Crown Prince emphasized significant growth in non-oil exports, an expanded role for the private sector in the economy, and progress in digital governance, cybersecurity, and logistics.
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According to reports, non-oil exports have surged by 155 percent since 2016, and the private sector's share of the economy has grown to 51 percent. HRH the Crown Prince stated that Saudi Arabia's transportation and logistics network has shown its capability to react to disturbances in global supply chains and ensure the continuity of goods and services.
The Public Investment Fund has started executing its strategy for the upcoming five years, concentrating on enhancing competitive local economic sectors in collaboration with the private sector, boosting local content, and creating sustainable financial returns. The National Development Fund is also assisting in the growth of multiple sectors through yearly funding designed to achieve their strategic objectives.
Saudi Arabia has made progress in various global technology and governance metrics, achieving the top position in the Digital Readiness Framework, the ICT Development Index, and a cybersecurity measure, while placing second in the GovTech Maturity Index. The Crown Prince stated that the Kingdom has also ranked among the world's top 10 jurisdictions for the attractiveness of mining investment.
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The government has proclaimed 2026 as the Year of Artificial Intelligence, emphasizing its goal to lead globally in AI applications and solutions while leveraging the technology to enhance productivity, refine public services, and cultivate Saudi talent. The Crown Prince stated that the reforms had also resulted in improvements in employment, housing, education, and healthcare.
Reforms in real estate broadened housing options, enhanced market efficiency, and raised homeownership rates, while investing in human capital sought to provide more opportunities for Saudi citizens to access and thrive in the labor market. He stated that education and healthcare continued to be key priorities for the government, with the General Education Law designed to enhance educational standards and an ongoing healthcare transformation focused on improving the quality and accessibility of services.
The Crown Prince stated that the transformations over the last ten years have highlighted the necessity of economic diversification as the Kingdom encounters a progressively unpredictable global landscape.
“Long-term planning doesn’t imply inflexibility or inactivity; it signifies the capacity to adjust to evolving situations,” he remarked.
He stated that the robustness of the national economy, the development of the business sector, the stability of state institutions, and fiscal sustainability have been evidenced by the prevailing regional conditions.
Saudi Arabia's economic strategy will maintain its emphasis on enhancing national competencies, backing emerging sectors, drawing in both local and foreign investment, and allocating resources to regions that yield the highest economic and social benefits, he stated.
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Regarding regional security, HRH the Crown Prince noted that recent assaults on GCC countries showed that Gulf stability and security are interconnected. He stated that Saudi Arabia will maintain collaboration with other Gulf nations to enhance security, strategic partnerships, and economic unity, while actively seeking more coordinated efforts via the GCC.
He additionally mentioned the Makkah Joint Defence Agreement involving Saudi Arabia, Türkiye, and Pakistan, noting that it showcased a collective dedication to regional security and stability.