Economy minister stresses importance of local content for economic diversification
Saudi Gazette report RIYADH — Minister of Economy and Planning Faisal Al-Ibrahim said that Saudi Vision 2030's primary goal is diversifying economic growth.“This involves creating an environment
Saudi Gazette report
RIYADH — Minister of Economy and Planning Faisal Al-Ibrahim said that Saudi Vision 2030's primary goal is diversifying economic growth.“This involves creating an environment that supports competitive local products and services in foreign markets, thereby increasing economic resilience,” he said while addressing the Local Content Forum in Riyadh on Wednesday.
The minister said that increasing exports diversifies growth sources. “We want growth through non-oil sources and channels beyond public finances. This helps grow the private sector, small and medium enterprises, and provides sustainable jobs,” he said while emphasizing that knowledge transfer is crucial for local content and economic diversification.
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