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H.E the Saudi Vice Minister of Finance, Mr. Abdulmuhsen Alkhalaf , participated in the "Super Return" conference, held in Riyadh on January 27, 2025, which included major leaders' industry in private equity and venture capital as well as investors, fund managers, and financial experts.

During his speech at the conference, His Excellency Alkhalaf highlighted the economic development and outlook of Saudi Arabia.  He stressed the great strides made by the Kingdom toward achieving its ambitious goals under Vision 2030, in which many of its aspirations regarding economic diversification have been achieved.

He said that the reforms undertaking under the Vision have made the non-oil activities increase by 52% of the total real GDP in the third quarter of 2024, and the momentum of non-oil GDP growth will continue in the medium term.

Also, he highlighted that the contribution of private investment to GDP increased from 14.6% in 2016 to 23.4% in the third quarter of 2024. This reflects a competitive and dynamic environment designed to foster investment across vital and promising sectors.

He noted that Saudi Arabia has one of the fastest-growing capital markets in the world, and Saudi banking sector assets reached above $1 trillion in 2023. Also, the number of small and medium enterprises has almost doubled since 2016, and now 45 percent of SMEs are owned by Saudi women.

Vice Minister Alkhalaf also stressed that these developments are an ongoing process that takes stakeholders' feedback and builds on it, as Saudi Arabia have been working to put the private sector in the driver's seat and realize its full potential.

Super Return is one of the world's largest venture capital and private equity conferences, bringing together investors, fund managers, and financial experts from around the world to discuss the latest trends and opportunities in financial and investment markets.

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