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Saudi Arabia's Economic Revamp Hinges on Regional Stability
Posted
April 29, 2024
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3,644
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April 29, 2024
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0:59Now PlayingSaudi Arabia signaled little concern over having to delay or adjust some of the biggest projects conceived as part of its economic transformation plan, with a top official saying momentum is “moving very steadfastly” as the kingdom presses ahead with its multi-trillion dollar program.
“We’re focusing on accelerating diversification,” Faisal Al-Ibrahim, the Saudi economy and planning minister, said Monday in an interview with Bloomberg Television on the sidelines of a special meeting of the World Economic Forum in Riyadh.
“We get feedback from the market, from investors,” Alibrahim said. “We will do whatever is best for these projects but also whatever is good for the economy.”
The economic makeover, known as Vision 2030, has been hitting some snags eight years after being unveiled by Crown Prince Mohammed bin Salman with the goal of pivoting the nation away from oil dependency.
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