The Kingdom would not have been able to form the largest free economic market in the Middle East and North Africa without a deep strategy and an ambitious and flexible vision capable of moving according to set goals and scientific plans that analyze the present and anticipate the future; this is what made it worthy of being a leader in exports, holding 25% of the total Arab GDP, benefiting from its geographical location which has made it an easy gateway to export markets in Europe, Asia, and Africa. It has also allowed its market to have high purchasing power and to be one of the fastest-growing countries in the world in terms of economic growth. This ongoing growth has solidified its presence as a major economic state ranked among the twenty largest economies in the world.
Therefore, it is no surprise that the national economy is witnessing stability in its positive performance despite global changes and rising uncertainty regarding global economic prospects. The positive performance—thank God—continued for the Purchasing Managers' Index in March, recording 57.0 points, remaining in the expansion zone. Additionally, net foreign direct investment flows during the fourth quarter of 2023 amounted to 13 billion riyals, compared to 11 billion riyals in the previous quarter. This remarkable growth in net foreign investment flows reflects the confidence of investors and the private sector in the solidity of the Saudi economy and the effectiveness of the measures taken to address global challenges.
Recently, on the sidelines of the World Economic Forum hosted in Riyadh under the patronage of His Royal Highness the Crown Prince, Prime Minister Mohammed bin Salman, with the attendance and participation of heads of state and policymakers from various countries, aimed at shaping development policies in all nations, the Minister of Economy spoke with confidence and reassurance, stating that "after eight years of launching Vision Saudi 2030, we have shown our readiness to lead the path towards an advanced growth model based on transformation characterized by innovation and sustainability. Our vision is to pave the way towards a prosperous economy based on knowledge and innovation, unleashing the immense potential of our human capital."
This was clearly evident in the report released a few days ago regarding Vision 2030, which indicated that we are successfully and creatively achieving our targets with confidence. Despite global changes and rising uncertainty regarding global economic prospects, the figures and results affirm the continued strength of our national economy, in line with the goals of (Saudi Vision 2030), progressing with its objectives in a reassuring and steady manner, instilling pride and appreciation for our wise leadership that confidently guides our country towards leadership in all fields, placing it at the forefront of nations worldwide in presence, impact, and influence.
