Saudi Vision focuses on 5 strategic sectors: Al-Jadaan

Finance Minister Mohammed Al-Jadaan says the industry and mining sectors play a pivotal role in job creation, reducing imports and boosting exports

Saudi Arabia’s Finance Minister Mohammed Al-Jadaan identified five strategic sectors that remain the core focus of the Kingdom’s Vision.

The sectors include finance, industry and mining, transport and logistics services, energy and electricity, and tourism.

In an interview with Asharq TV on the sidelines of the World Economic Forum in Davos, Al-Jadaan said the financial sector serves as a key driver for other economic sectors, while the industry and mining sectors play a pivotal role in job creation, reducing imports and boosting exports.

Al-Jadaan highlighted the importance of the transport and logistics sector in developing industry through ports, roads, and railways, stressing that the sustainability of the energy and electricity sectors, and their provision at affordable prices, are key factors in attracting investments and supporting economic growth.

He added that the next five years of the Vision will focus on maximizing impact, noting that the first phase was dedicated to planning, the second to execution, while the upcoming phase aims to maximize economic returns through established plans, strategies, and spending levels.

Regarding borrowing, the minister affirmed that the Kingdom’s resort to debt is a strategic choice rather than a means to finance consumer spending, emphasizing that debt is directed towards funding capital projects and infrastructure to support long-term economic growth.