Saudi Investment Minister Khalid Al-Falih: 675 Global Companies Opened Offices in Riyadh

Saudi Investment Minister Khalid Al-Falih stated that the number of licensed global companies to establish regional offices in Riyadh has reached 675.

In a speech at the Fortune 2025 Forum in Riyadh, Al-Falih affirmed that Saudi Vision 2030 has created a flexible environment for engaging with global companies, adding that the goal is to make Saudi Arabia a platform for global growth, not just a market for opportunities.

He noted that by the end of 2024, 85% of the Vision initiatives will be completed or on track.

Al-Falih also confirmed a 5.5% increase in Saudi non-oil exports in August, with the contribution of non-oil sectors to GDP rising to 56% compared to 40% prior to the launch of the Vision.

He added that the kingdom's economy has doubled from $650 billion before the Vision was launched to about $1.3 trillion.

He urged international investors to invest in the kingdom's ports and airports.

Furthermore, the contribution of non-oil sectors to GDP has risen to 56%, with the economy doubling from $650 billion to nearly $1.3 trillion.

Regarding energy, the minister mentioned that the kingdom dominates traditional energy and remains committed to developing new and renewable energies such as wind, solar, and green hydrogen.

He also pointed out that the kingdom is investing in digital technologies and artificial intelligence, stating that AI requires affordable energy, which is available in the kingdom.

He said, "Therefore, the kingdom seeks to establish itself as a global data center hub." He expressed concerns from the business community about the resilience of supply chains amid trade tensions, saying, "Everyone is concerned about the resilience of supply chains."