Minister of Economy says seizing part of $3 trln opportunities in next 5 years to drive further growth

Faisal Al-Ibrahim, Minister of Economy and Planning

Faisal Al-Ibrahim, Minister of Economy and Planning, said that seizing part of the opportunities that exceed $3 trillion over the next five years, despite the significant progress made since the launch of Vision 2030 and during the pandemic, will be a catalyst for further economic growth.

The COVID-19 pandemic and the use of solutions based on the Fourth Industrial Revolution revealed the reality of the widening gap between the leading economies and the rest of the world, Al-Ibrahim added during the First Saudi Forum for 4IR.

The Kingdom still has a lot of work to do to raise its rank in the Global Innovation Index, and plans to be in the leading position among its counterparts in the G20.

Al-Ibrahim noted that this leads to the factors that shape the future role of the Fourth Industrial Revolution Center, as the center enjoys the convergence of the growing role of the Fourth Industrial Revolution in providing solutions to global challenges with the momentum and potential of Saudi Arabia’s vision and its impact locally and globally. This is in addition to the Kingdom’s growing global leadership role, which is based on a solid legacy of work with global partners to overcome global challenges and its pioneering vision and massive transformation.

“The center should take advantage of these possibilities, to become a center for work on discovering, discussing and providing comprehensive solutions to global challenges as well as local challenges that are of the same level of importance,” Al-Ibrahim concluded.