Riyadh (UNA/SPA) – Saudi Minister of Economy and Planning Faisal bin Fadel Al-Ibrahim affirmed that the Kingdom of Saudi Arabia is setting a new world record in solar and wind energy, and is working to keep the world connected by enhancing the strength and durability of supply chains through many things, including the free trade agreements of the Gulf Cooperation Council (GCC) group of countries with the world, indicating that projects and investments in trade, tourism, infrastructure, transportation and communications set priorities for economic integration and integration.

He said during his speech at the 8th edition of the Future Investment Initiative Conference: “Today we meet to discuss the axis of our global economy, energy transitions and artificial intelligence,” indicating that the global economy is facing an era of great growth, noting the importance of participating in investing in the future to face challenges.

Al-Ibrahim added: “Since the launch of the Kingdom’s Vision 2030, our non-oil economy has grown by 20%, and we have witnessed a 70% increase in private investment in non-oil sectors, which paved the way for openness and many partnerships with businesses, companies and investors.”

He explained that non-oil activities constitute 53% of the actual GDP, stressing the importance of partnerships between the public and private sectors, noting that Saudi Arabia will be a pioneer in artificial intelligence, and is working to create a business environment that integrates innovation, provides more regulatory clarity, and provides practical solutions, noting that more than 120 companies have moved their regional headquarters to the Kingdom of Saudi Arabia, and the percentage of capital has increased by 50%.

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