The annual report of Saudi Arabia's Vision 2030 for 2025 has revealed that more than 222,000 citizens have been enabled to secure job opportunities through the Tawteen2 program, which is part of the Human Resources Development Fund (HRDF). This comes at a time when non-oil activities are witnessing significant growth, enhancing their role in supporting the gross domestic product.
The development financing system continues to play a pivotal role in this transformation by supporting vital sectors and enhancing economic diversification. These programs also contribute to increasing the private sector's participation as a key partner in achieving the vision's objectives.
Event Details
According to the report, development financing programs are enhancing skills and preparing individuals for the labor market, leading to a decrease in the unemployment rate to 7.2% by the end of 2025, compared to 12.3% at the end of 2016. This improvement reflects market efficiency and an increase in the participation of national competencies.
The Governor of the National Development Fund, Abdulaziz Al-Areifi, confirmed that the system is based on the principle of empowering individuals as a fundamental pillar of any developmental renaissance, directing capital towards projects with the most impact and sustainability, thus contributing to the creation of quality job opportunities.
Background & Context
The efforts of the National Development Fund include empowering the private sector and supporting small and medium enterprises, which are considered among the most important drivers of economic growth. The development financing system has facilitated access to funding for these enterprises through innovative solutions, such as the Kafalah program, which has issued guarantees worth 93 billion riyals.
As a result of these efforts, more than 27,000 enterprises have secured financing amounting to 130.6 billion riyals, supporting the creation of new economic opportunities.
Impact & Consequences
The venture capital sector has experienced exceptional growth, with quality initiatives, such as the establishment of the Saudi Venture Capital Company (SVC), stimulating investment funds. The volume of venture capital investment has increased by approximately 25 times from 2018 to the end of 2025.
This growth enhances the kingdom's position as an advanced destination for entrepreneurs and innovators, reflecting the maturity of the business environment in the country.
Regional Significance
On the international front, the Saudi Export-Import Bank continued to support the competitiveness of national exports, providing credit facilities amounting to 116 billion riyals during 2025. Non-oil exports reached their highest historical levels, valued at 622.87 billion riyals.
This development reflects the growing presence of Saudi products in global markets and enhances the kingdom's ability to compete in international markets.