Saudi Arabia says Vision 2030 programmes hit 93% of targets

Summary

• Crown Prince says 93% of Vision 2030 programme targets achieved after a decade of reforms
• Non-oil exports up 155% since 2016; private sector now 51% of the economy, he said
• The figures frame Riyadh's case that diversification has cut its exposure to oil shocks

The latest

Saudi Arabia has delivered 93% of the targets set under its Vision 2030 programmes and strategies, Crown Prince and Prime Minister Mohammed bin Salman said Wednesday, opening the third year of the Shura Council's ninth session on behalf of King Salman. He pointed to non-oil export growth, a larger private-sector share of output and gains in digital government, cybersecurity and logistics, according to the Saudi Press Agency.

Details

• The headline figure: The Crown Prince put completion of Vision 2030 programme and strategy targets at 93% after ten years of reforms, framing the record as evidence the Kingdom's economy is now more resilient to external shocks, SPA reported. He did not break the figure down by individual programme.
• The two numbers: Non-oil exports have risen 155% against their 2016 level, the year Vision 2030 was launched and the baseline Riyadh uses for its diversification claims. The private sector's contribution to the economy has climbed to 51%, a central structural goal intended to shift growth away from oil-driven state spending.
• The PIF strategy: The Public Investment Fund has begun implementing its strategy for the next five years, focused on building competitive domestic sectors in partnership with private firms, raising local content and generating sustainable financial returns, he said. No investment totals were attached to the plan.
• Global rankings: Saudi Arabia ranks first in the Digital Readiness Framework, the ICT Development Index and a cybersecurity indicator, and second in the GovTech Maturity Index, he said. The Kingdom has also entered the world's top 10 jurisdictions for mining investment attractiveness.
• Year of AI: The government has designated 2026 as the Year of Artificial Intelligence, a label the Crown Prince tied to Riyadh's ambition to become a global leader in AI applications and solutions. The announcement came without a stated budget or implementation timetable.
• Social gains claimed: The reforms produced improvements in employment, housing, education and healthcare, he said. Real estate measures in particular expanded housing choices, improved market efficiency and lifted homeownership — one of the most politically sensitive files in the Vision 2030 package.
• The doctrine: "Long-term planning does not mean rigidity or stagnation; it means the ability to adapt to changing circumstances," the Crown Prince said, a line that reads as pre-emptive cover for targets revised or rescheduled as the decade advanced.
• Policy direction: Economic policy will keep focusing on developing national capabilities, supporting promising sectors, attracting domestic and international investment, and directing resources to areas with the greatest economic and social impact, he told the Council.

Background

Vision 2030 was launched in 2016 as Saudi Arabia's framework for reducing oil dependence, expanding the private sector and overhauling government services. Its programmes run through the end of the decade, with the Shura Council session serving as a recurring platform for progress announcements.

Between the lines

The 93% figure measures programme targets, not economic outcomes — a distinction the speech does not dwell on. Pairing it with the adaptability line suggests Riyadh is managing expectations as the 2030 deadline nears, preserving room to reset benchmarks without conceding failure. The 155% export growth and 51% private-sector share are the two numbers chosen to carry the resilience argument publicly.

What's next

Watch whether PIF publishes figures for its five-year strategy, what the Year of Artificial Intelligence designation produces in concrete programmes, and whether updated non-oil export and private-sector data confirm the trajectory cited.

Source: TradeArabia via ZAWYA, citing Saudi Press Agency (SPA)