“石油王国”经济版图重塑

Core Viewpoint - Saudi Arabia's economy has undergone significant transformation over the past decade, with the non-oil sector's contribution to GDP rising from 45.4% to 55.6%, driven by the "Vision 2030" initiative aimed at economic diversification [3][4]. Economic Growth and Diversification - The non-oil economy's growth rate for the first three quarters of the year reached 4.7%, with an expected annual growth of 5%, making it a key driver of overall economic growth [5]. - The Saudi Ministry of Finance projects a GDP growth acceleration to 4.4% in 2025, with non-oil sector growth anticipated at 5% [3][5]. - Despite a decline in total fiscal revenue due to falling oil prices, non-oil revenue has exceeded expectations, confirming the effectiveness of the economic diversification process [5][6]. Key Sectors Supporting Growth - The growth of the non-oil sector is supported by various fields, including increased local content in public procurement, which stimulates domestic manufacturing [6]. - Wholesale and retail trade have become significant contributors to non-oil growth, closely linked to strong private consumption trends [6]. - Government measures, such as capping gasoline prices and providing direct financial support, have stabilized residents' real income and boosted consumption [6][7]. Role of National Development Fund (NDF) - The NDF plays a crucial role in the economic transformation by ensuring that all its funds align with the national vision [7][8]. - NDF acts as a catalyst to attract both domestic and international investors by providing funding support and capacity building [8]. - The NDF is adjusting its business model to facilitate the government's shift from public spending to capital-driven investment [8]. Investment Opportunities and International Cooperation - Saudi Arabia has become a major player in green investment, with $12 billion in green financing issued this year, capturing two-thirds of the Middle East's green finance market [8]. - The NDF is actively fostering cross-national partnerships, particularly with China, which is Saudi Arabia's largest trading partner [10][11]. - Infrastructure remains a primary area of interest for Chinese investors, with ongoing discussions and agreements to enhance cooperation in this sector [11].