Saudi Arabia: Catalysing growth at the crossroads of Vision 2030
Saudi Arabia’s Vision 2030 is positioning the Kingdom as the Middle East’s leading trade hub, says Standard Chartered Saudi Arabia CEO Mazen Bunyan.
Saudi Arabia is on the brink of an extraordinary transformation, and it’s an exciting time to be part of this journey. With its ambitious Vision 2030 strategy, the Kingdom is not only diversifying its economy, but also opening its doors wider to foreign direct investment (FDI) and establishing itself as a global hub for trade, innovation, and sustainability. This aligns well with our strengths in project finance, capital markets, and cash management. At Standard Chartered, we’re proud to be a strategic partner in this remarkable journey, helping our clients seize new opportunities across the region and beyond.
Vision 2030: A bold blueprint for economic diversification
Since its launch in 2016, Vision 2030 has been Saudi Arabia’s north star, steering the country away from oil dependency towards a vibrant, knowledge-based economy. The Kingdom’s heavy investments in non-oil sectors like tourism, renewable energy, financial services, and digital infrastructure are already paying off. Today, the non-oil economy makes up 70 per cent of Saudi Arabia’s real GDP, a milestone that prompted Moody’s to upgrade its credit rating in late 2024. We expect the non-oil sector to continue to grow steadily at 4 – 4.5 per cent and forecast Saudi Arabia to see the sharpest growth increase in MENAP in the second half of 2025.
Saudi Arabia’s strategic location at the crossroads of Asia, Africa, and Europe amplifies its potential as a trade and logistics powerhouse. The ongoing liberalisation of international trade, 100 per cent foreign ownership in most sectors, and regulatory reforms by the Capital Market Authority (CMA) and Saudi Central Bank (SAMA) have significantly boosted investor confidence and improved access to capital markets.
Building a future-ready financial ecosystem
Saudi Arabia is quickly becoming a regional financial powerhouse. The Tadawul stock exchange is drawing increasing international interest, and progressive fintech regulations are spurring the growth of digital banking, payment innovations, and blockchain integration. These developments are reshaping the financial services landscape, creating immense opportunities for CFOs and treasurers.
We’re here to help our clients leverage these changes. Our on-the-ground presence and comprehensive suite of treasury, liquidity, and FX solutions enable us to support corporations as they expand within the Kingdom and beyond.
Enabling innovation across key growth sectors
From biotech and smart manufacturing to cloud computing and e-commerce, Saudi Arabia is becoming a magnet for tech-driven investment. Flagship initiatives such as the National Strategy for Data & AI and the development of cognitive cities such as Neom are creating fertile ground for innovation. The rapid rollout of 5G infrastructure is also enabling digital transformation at scale.
In the tourism sector, the government aims to welcome 100 million visitors annually and increase tourism’s GDP contribution to 10 per cent by 2030. Projects such as Riyadh Air, Qiddiya, and the Red Sea Project are turning Vision 2030 into a reality, offering investors unique entry points into hospitality, entertainment, and infrastructure.
Advancing sustainability
Sustainability is at the heart of Vision 2030. The Saudi Green Initiative aims to generate 50 per cent of the Kingdom’s energy from renewables by 2030. Investments in solar, wind, green hydrogen, and energy efficiency are accelerating rapidly.
As pioneers in green sukuk, ESG-linked loans, and carbon finance for emerging markets, we’re helping clients align their strategies with Saudi Arabia’s 2060 net-zero targets. Our involvement in the region’s first voluntary carbon credit trade underscores our commitment to sustainable finance.
Connecting global corridors
At Standard Chartered, we are leveraging our international network to facilitate cross-border investments that align with Saudi Arabia’s economic transformation, strengthening trade and capital corridors with Asia, Africa, and Europe as well as within the Middle East.
With our deep-rooted presence in high-growth markets, we are uniquely positioned to serve as a bridge for both inbound and outbound investment flows – linking Saudi Arabia to global opportunities, especially across Asia, and the AME region. Saudi Arabia is fast emerging as a key player in several strategic international corridors and we are proud to be at the centre of that momentum.
- China-Saudi Corridor: We’re enabling stronger ties in energy, logistics, technology, and infrastructure. Our support includes renminbi settlement, structured trade finance, and facilitating landmark deals – such as the issuance of a USD 2 billion Chinese sovereign bond in the Kingdom.
- India-Saudi Corridor: This is a critical gateway between South Asia and the Middle East. We help Indian corporates expand into Saudi Arabia across sectors such as oil & gas, tech, and renewables – bringing scale and expertise to where it matters most.
- Korea-Saudi Corridor: A standout example of strategic collaboration. We’re supporting technology transfer, infrastructure development, and growing FDI flows that contribute to Saudi Arabia’s industrial diversification and long-term growth.
The role of finance
With over 170 years of global experience and the broadest international branch network in the Middle East, we offer clients deep global corridor expertise, innovative digital and sustainable finance solutions, as well as local regulatory, compliance, and FX knowledge
We are proud to support Saudi Arabia’s transformation into a dynamic, diversified economy that is globally connected and future-ready.
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