Big Changes in Saudi Arabia
Mohammed Al-Jadaan, the Finance Minister of Saudi Arabia, spoke at the US-Saudi Investment Forum in Riyadh. He mentioned that the Kingdom has made big changes quickly over the last seven years.
Growth in Private Investment
Al-Jadaan noted that even though it might take a long time for private investment to grow as a part of the country’s economy, Saudi Arabia is doing great. The private sector has grown from 16% to 23%. That means more businesses are starting and doing well!
Low Unemployment Rate
He also shared that Saudi Arabia now has the lowest unemployment rate ever, which is about 3.5%. For Saudi nationals, they reached their goal for Vision 2030, achieving an unemployment rate of 7%.
Empowering Women
Al-Jadaan talked about how women in Saudi Arabia are getting more opportunities. He said that getting more women to work is very important. The participation of women in the workforce grew from 17% to 36%. That’s a huge change!
Tourism Success
The minister proudly announced that Saudi Arabia hit its goal of welcoming 100 million tourists by 2030 two years early! He said when leaders have a clear vision and get everyone excited about it, people feel proud of their country and its progress.
US Support for Saudi Arabia
Scott Bessent, the US Secretary of the Treasury, emphasized how important the relationship between the US and Saudi Arabia is. He explained that President Trump’s plans focus on trade, taxes, and making rules easier for businesses.
Aiming for Economic Balance
Bessent mentioned that the US wants to make its economy stronger by focusing on making things again and hopes that China will become more about consumers.
Investment Goals
Khalid Al-Falih, the Minister of Investment in Saudi Arabia, welcomed everyone to the event. He thanked the Kingdom’s leaders for hosting and said they are working to increase investments and trade to $600 billion.
Conclusion: Finance Minister Mohammed Al-Jadaan
Saudi Arabia is making exciting changes! From helping women work to increasing tourism and lowering unemployment, the country is on an impressive journey. With strong leadership and a clear vision, amazing things are happening in the Kingdom!
