Saudi Arabia’s non-public sector is rising because the engine of the Kingdom’s diversification drive, in response to Minister of Funding Khalid Al Falih, who mentioned its contribution to gross home product (GDP) has doubled in ten years — rising from SR1.1tn ($293bn) in 2016 to about SR2.3tn ($613bn).
He known as for this determine to exceed SR2.4tn ($639bn) inside 5 years.
Al Falih underscored the very important and complementary function of the non-public sector inside Saudi Arabia’s nationwide funding ecosystem, noting its rising contribution to the Kingdom’s financial development.
Saudi non-public sector
The minister made the remarks on Sunday throughout a gathering with Federation of Saudi Chambers (FSC) Chairperson Hassan Alhwaizy, together with heads and representatives of Saudi chambers of commerce, joint Saudi-foreign enterprise councils, and nationwide committees on the FSC headquarters.
Additionally attending had been Assistant Minister of Funding Ibrahim Al-Mubarak, CEO of the Saudi Funding Promotion Authority (SIPA) Khaled Alkhattaf, and several other deputies, basic administrators and senior officers on the ministry.
Home funding rises
Al Falih emphasised the non-public sector’s essential function in driving financial development, noting that the sector recorded a 76 per cent improve in home funding in 2024, with native funding now accounting for round 30 per cent of Saudi GDP.
He added that the whole inventory of overseas direct funding (FDI) has surpassed SR1tn ($266bn) — a 100 per cent improve in contrast with 2016.
“These constructive indicators replicate that the Kingdom’s economic-transformation journey requires continued collaboration and integration between the private and non-private sectors,” Al-Falih mentioned.
Imaginative and prescient 2030 targets
The assembly aimed to strengthen and increase strategic partnerships between the Ministry of Funding and the FSC, open new horizons for collaboration with the non-public sector, and deal with funding challenges in step with the targets of Saudi Imaginative and prescient 2030 and the Nationwide Funding Technique derived from it.
Al Falih mentioned such coordination is significant to making sure sustained development, higher private-sector participation, and a extra diversified nationwide financial system.
Funding snapshot
| Indicator | Determine | Change |
| Personal-sector GDP contribution | SR2.3tn ($613bn) | Doubled since 2016 |
| Goal (5 years) | SR2.4tn ($639bn) | Projected improve |
| Home funding development | 76 per cent (2024) | Up from 2023 |
| Native funding share of GDP | ≈ 30 per cent | Present stage |
| FDI inflows (2024) | SR120bn ($31.9bn) | 4× since 2016 |
| Complete FDI inventory | SR1tn ($266bn) | 100 per cent rise |
