Alibrahim expects continued strong non-oil growth over next 3 years

Minister of Economy and Planning Faisal Alibrahim

Most non-oil sectors recorded steady annual growth of 5–10% over the past five years, said Minister of Economy and Planning Faisal Alibrahim.

He added that the ministry expects growth to remain strong, both overall and in non-oil sectors, at 4–5% over the next three years.

In remarks to Reuters, Alibrahim noted that the Saudi private sector is playing an increasingly prominent role under Vision 2030. He explained that in recent years, full project scopes have been awarded to the private sector for execution, alongside the provision of the necessary regulatory support and guidance.

He pointed out that adjustments to project timelines and scopes are driven by several factors, including inflation concerns, import pressures, and signs of overheating economic activity.

The minister emphasized that the government remains flexible in managing its ambitious development projects, reviewing the scope of certain initiatives while maintaining momentum toward achieving the economic transformation objectives of Vision 2030.

He added that Saudi Arabia is currently focused on hosting major international events, with priority given to the AFC Asian Cup 2027, Expo 2030, and the 2034 FIFA World Cup.