Saudi finance minister says Vision 2030 ‘tried and tested’

FILE PHOTO: Saudi Minister of Finance Mohammed al-Jadaan speaks during an interview with Reuters at the Four Seasons hotel in Riyadh
FILE PHOTO: Saudi Minister of Finance Mohammed al-Jadaan speaks during an interview with Reuters at the Four Seasons hotel in Riyadh, Saudi Arabia September 18, 2019. REUTERS/Hadeel Al Sayegh

October 14, 2020

DUBAI (Reuters) – Saudi Arabia’s finance minister said on Wednesday that the kingdom’s Vision 2030 to diversify the economy away from oil has been “tried and tested”, particularly during the coronavirus pandemic.

“It proved to be the right plan. The economy was able actually to deal with it (the coronavirus crisis), the government was able to deal with it in a very adequate way,” Mohammed al-Jadaan said.

He added that Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, was investing to catalyse the private sector, including in the industrial sector.

(Reporting by Marwa Rashad and Davide Barbuscia; Writing by Yousef Saba; Editing by Gareth Jones)