Saudi Arabia to launch $2T economic diversification strategy: Al-Jadaan

Saudi Finance Minister Mohammed Al-Jadaan

Saudi Finance Minister Mohammed Al-Jadaan revealed plans to launch an updated strategy for Crown Prince Mohammed bin Salman’s economic diversification agenda, at a value of $2 trillion.
 

The government began this week discussing how to present its strategy for the next five years, Al-Jadaan said, in an interview with Bloomberg TV on the sidelines of the AlUla Conference for Emerging Market Economies, organized in partnership between the Ministry of Finance and the International Monetary Fund.
 

He further noted that the sectors the plan will focus on include tourism, manufacturing, logistics, and technology. However, he did not disclose further details or the timing of the strategy’s announcement.
 

The minister also emphasized that Saudi Arabia is actively continuing to reprioritize its objectives, reshape policies, and ensure their gradual strengthening in order to empower the private sector.
 

He added that Saudi Arabia has a wide network of funding channels it can turn to should it require financing beyond what has been planned.