Prince Mohammed: The goal is to support the sustainable development of all economic sectors.. and stimulate the contribution of the private sector.. and contribute to the growth of the real GDP of the Kingdom by pumping more than 570 billion Saudi riyals by 2030 and doubling the share of non-oil GDP by more than three times to reach to 605 billion Saudi riyals by 2030.

Riyadh 11 Shaaban 1443 AH corresponding to March 14, 2022 AD:

His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Chairman of the Board of Directors of the National Development Fund, launched; The Fund's strategy during its presidency of the Board of Directors meeting, which aims to make the Fund a pivotal enabler for the economic and social objectives of the Kingdom's Vision 2030 by working to meet the existing development challenges in line with international best practices.

His Highness the Crown Prince said: "The strategy of the National Development Fund aims to support the sustainable development goals of all economic sectors by transforming it into an integrated national financial institution to contribute to achieving the goals of the Kingdom's Vision 2030. Three times the development impact on the Kingdom’s economy by 2030. In addition to the fund’s contribution to the Kingdom’s real GDP growth by pumping more than 570 billion Saudi riyals by 2030, it also aims to triple the share of non-oil GDP to reach 605 billion Saudi riyals by 2030, in addition to creating many job opportunities in the Kingdom by 2030.”

The strategy of the National Development Fund is based on activating the Kingdom's development goals by securing financial savings for development funds and banks, in addition to enabling them to achieve a business model and a sustainable portfolio and enabling the private sector to enhance its role in development financing and benefit from harmonization and commercial and operational integration to serve the beneficiaries of affiliated entities, and activate initiatives Concerned with improving performance and transparency, increasing efficiency and effectiveness, as well as developing the internal capabilities required to achieve the aspirations and objectives of the Fund for the continuation of development financing in the long term.

In a statement to His Excellency the Deputy Chairman of the Board of Directors of the National Development Fund, Mr. Muhammad bin Mazyad Al-Tuwaijri, he said: "I extend my sincere thanks to His Royal Highness Prince Muhammad bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Chairman of the Board of Directors of the National Development Fund - may God protect him -, For its official launch, the Fund’s strategy, which is a step that reflects our firm commitment always to transform into an integrated development financing institution, that contributes to the development and diversification of the Saudi economy and enhances its prosperity, in order to consolidate the Kingdom’s position at the global level, and we intend to achieve these goals by transforming the Kingdom’s economy from an economy dependent on government spending to An economy led and integrated by the private sector, in addition to encouraging exports and local industries, achieving financial sustainability, and working as an effective tool to face the fluctuations of economic challenges. We are confident that the National Development Fund will be one of the main pillars for turning these plans into reality, God willing.

In a statement to the Governor of the National Development Fund / Stephen Paul Grove, regarding the launch of the fund’s strategy, he said: “We have a great opportunity to enhance the efficiency of government development funds and banks in terms of identifying and investing financing opportunities throughout the Kingdom, as well as enhancing their collaborative efforts with the aim of sharing services and reducing overlaps. In its operations, which will mainly contribute to building more robust and sustainable financial institutions that operate with the best international practices, and the success of the implementation of the fund’s strategy will support efforts to achieve the Kingdom’s prosperity, improve the quality of life, create new and sustainable jobs, and raise the Kingdom’s reputation on the international scene in a step that leads to attracting More foreign investments. Today, we are facing a big step that takes us towards achieving the vision of His Royal Highness Prince Mohammed bin Salman for the future of the Kingdom and its leading role in the world."

The National Development Fund was established by Royal Decree No. (A/13) dated 1/13/1439 AH, upon the recommendation of His Highness the Crown Prince and Chairman of the Council of Economic and Development Affairs - may God protect him - with the aim of raising the performance level of the affiliated development funds and banks to achieve the desired goals In keeping with what serves development priorities and economic needs in light of the goals and foundations of the Kingdom’s Vision 2030, the Fund supervises the financing activities carried out by its development funds and banks, and coordinates policies, and has pumped more than 690 billion Saudi riyals through its affiliates since Founded, the fund is one of the largest development financing funds in terms of the ratio of assets to GDP in the group of twenty economies, with assets amounting to 496 billion Saudi riyals.