Riyadh - Sharikat Mubasher: Saudi Arabia reaffirms its commitment to achieving the ambitious goals of Vision 2030 by restructuring financing organizations to be more centralized and effective. In this dynamic sector, the National Development Fund (NDF) plays a pivotal role in aligning investment efforts to create job opportunities and improve the trade balance by reducing dependence on oil revenues.

The NDF emerged as a leading model among financing organizations in G20 countries, providing SAR 50 to 60 billion annually to support key sectors under Vision 2030, according to Governor Stephen Groff.

In an interview with Asharq Al Awsat on the sidelines of the Development Finance Conference (MOMENTUM 2025), Groff emphasized that the ultimate goal of these investments is to create new jobs, enhance trade and payments balances, and promote the non-oil sector in Saudi Arabia.

He noted that the NDF acts as a holding company overseeing the six main funds in the Kingdom, as well as six newly established funds designed to support sector-specific goals and Vision 2030’s broader objectives.

Founded in 2017, the NDF aims to diversify the national economy, advance social development, and achieve environmental sustainability, ultimately fostering vital sectors such as tourism, industry, and housing, boosting private sector involvement, and promoting sustainable development practices.

MOMENTUM 2025 took place in the Saudi capital from 9 to 11 December, gathering princes, ministers, high-ranking officials, CEOs, global leaders, development experts, and economists.

It highlighted the pivotal role of the private sector and the small and medium-sized enterprises (SMEs) within the finance ecosystem as a fundamental pillar for stimulating economic growth, creating job opportunities, and enhancing competitiveness in line with Vision 2030.