Saudi aims to make private sector more resilient, less dependent on govt: Alibrahim

13/02/2025 Argaam
Faisal Al-Ibrahim, Minister of Economy and Planning

Faisal Al-Ibrahim, Minister of Economy and Planning

Saudi Arabia is striving to strengthen the resilience of the private sector and decrease its dependence on the government, said Minister of Economy and Planning Faisal Alibrahim.

 

Speaking on the second day of the PIF Private Sector Forum 2025, Alibrahim projected that the Public Investment Fund's (PIF) total investments could reach approximately $1 trillion.

 

He emphasized that ongoing efforts and strategic plans aim to make the private sector more dynamic and a stronger economic partner.

 

The minister stated that the private sector currently contributes 46% of Saudi Arabia's economy, with a target to increase this share to 65%, highlighting the importance of private sector initiatives in creating opportunities.

 

Alibrahim expressed optimism about Saudi Arabia's economic growth, forecasting that the non-oil sector will expand by approximately 4.8% and 6.2% in 2025 and 2026, respectively.

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