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His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud directed all government entities on to sustain their efforts in identifying opportunities and prioritizing the interests of the country, its citizens and the national economy, the Saudi Press Agency reported. The Crown Prince praised recent progress as comprehensive and sustainable national development centered on Saudi citizens while targeting global leadership in multiple sectors, according to the agency. He attributed the steady stream of major milestones to strategic planning combined with disciplined fiscal policies that emphasized flexibility and proactive anticipation of challenges. The Council of Economic and Development Affairs had convened to examine updates to the program at the time of the remarks.
Vision 2030 will enter its third and final phase spanning 2026 through 2030, marking a period of peak implementation for national programs and strategies as transformation tools reach full readiness, the council said. This phase builds on the foundations laid during the first two stages by intensifying efforts, maintaining capital government spending to seize growth opportunities and strengthening the roles of the Public Investment Fund and National Development Fund in domestic investment. The council added that the period will expand private sector participation in economic growth and diversification while increasing local content across initiatives. Sectoral and regional strategies will continue rolling out as long-term tools that complement existing realization programs with broader scope and deeper impact.
A Vision 2030 2025 Annual Report found that the Saudi unemployment rate had fallen to 7.2 percent from 12.3 percent in 2016 when the program launched. The same report placed non-oil activities as accounting for more than half of GDP in 2025 after consistent gains in diversification. Female labor force participation climbed to 35 percent from 17.4 percent at the program’s outset, surpassing original targets, according to the annual assessment. These outcomes reflect the program’s success in fostering inclusive growth even amid external volatility.
Non-oil GDP growth rates rose markedly from 1.82 percent in 2016 to an average above 4 percent in subsequent years, data from the Vision 2030 program showed. The 2025 report indicated that small and medium-sized enterprises had expanded to 1.7 million entities supporting 8.88 million jobs and contributing 22.9 percent to GDP. World Bank analysis of Saudi labor market reforms over the decade confirmed that private sector Saudi employment reached 52.8 percent, exceeding near-term targets set under the vision. Such metrics illustrate the structural shift away from oil dependence that the Crown Prince highlighted.
The program launched in 2016 under the leadership of King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman with the aim of diversifying the economy, society and culture while reducing reliance on oil revenues, according to the official Vision 2030 overview. Its first phase focused on structural reforms across public institutions, the economy and social frameworks while the second phase accelerated strategy execution and investment in key sectors. The third phase now seeks to consolidate gains in national, economic and social transformation and accelerate delivery, the Council of Economic and Development Affairs stated. Reaching 2030 will establish foundations for growth in subsequent decades rather than represent an endpoint.
Work will continue monitoring ongoing initiatives, developing infrastructure, enhancing quality of essential services for citizens, residents and visitors, and investing in the capabilities of Saudi men and women to achieve comprehensive development and global competitiveness, the council reported. The Crown Prince emphasized that the vision’s approach had enabled qualitative achievements despite a decade of regional and international turbulence. Government entities received instructions to adapt implementation methods to sustain momentum and position the Kingdom among advanced nations. The council stressed that an ambitious population and determined leadership would support the trajectory toward sustained leadership.
