RIYADH — Minister of Investment Eng. Khalid Al-Falih announced that there has been a cumulative increase of over 45 percent in the average salary of Saudis in the private sector. He said the number of Saudis working in the private sector increased to 2.48 million by the end of 2025, with job opportunities doubling in vital sectors, including tourism. “The unemployment rate has decreased significantly from 13 percent to just over 7 percent, with a remarkable leap in women's participation in the labor market,” he said while addressing a government press conference in Riyadh on Tuesday. Al-Falih explained that women's contribution to the Saudi economy has more than doubled, alongside the creation of approximately 800,000 jobs in the national economy since 2016. He emphasized that every Saudi citizen is a key and essential partner in developing and implementing Saudi Vision 2030. He noted that the non-oil sectors now contribute 56 percent to the total economy, while the Kingdom's GDP has more than doubled in less than ten years, rising from SR2.6 trillion in 2016 to SR4.7 trillion in 2024. Al-Falih emphasized that the Kingdom's participation in the World Economic Forum reflected its presence as a unique and positive model, confident in its vision, path, and future, at a time when anxiety, pessimism, and a lack of clarity prevailed among most delegations due to global economic fluctuations. This highlighted Saudi Arabia as an independent nation with its own vision and achievements. Regarding investment, Al-Falih explained that foreign direct investment (FDI) inflows reached SR119 billion in 2024, while total fixed capital formation reached SR1.441 trillion. He anticipated, based on preliminary figures, that FDI inflows would exceed SR140 billion in 2025. The minister noted that the total investment volume in the Kingdom increased from approximately SR672 billion in 2017 to SR1.44 trillion by the end of 2024, surpassing the SR 1.5 trillion mark for the first time in 2025. Al-Falih revealed that licenses have been issued to more than 700 international companies that decided to relocate their regional headquarters to the Kingdom. There has also been an increase in the number of foreign investors to 62,000. He also noted the existence of approximately 1.8 million commercial registrations for Saudis, while the volume of foreign investments exceeded SR1 trillion in 2025. The pharmaceutical and accounting sectors, he emphasized, reflect the strength of the Saudi economy, the sustainability of its growth, and its increasing attractiveness as a global investment destination. Al-Falih noted that the Kingdom is moving from a phase of facilitating investment procedures to one of empowering specialized investors, with the imminent launch of the updated investment strategy, which will enhance sustainability and raise the quality of investments. The minister noted that Humain would become the Kingdom's "Aramco" in the artificial intelligence sector, noting that three major companies have begun manufacturing cars in the Kingdom. He predicted that their combined production in the Kingdom would reach approximately half a million cars in the coming years, contributing to a reduction in imports and an improvement in the trade balance. Al-Falih said that major IPOs are expected in the Saudi stock market, particularly in the debt market, and that several initiatives are being developed with the Capital Market Authority and Tadawul (the Saudi Stock Exchange) to attract more investors.
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