RIYADH: Saudi minister of financial system and planning, Faisal bin Fadel Al-Ibrahim, mentioned the significance of investing within the Saudi youth in an unique interview with Arab News.

The minister stated younger individuals are “the guardians of tomorrow’s economy” and the important thing to driving the Kingdom’s financial transformation below Vision 2030.

“We have a responsibility to ensure that young people are equipped with the tools and knowledge to deliver value and impact at the tables of decision-making,” Al-Ibrahim stated.

With the youth making up the vast majority of the Kingdom’s inhabitants, the minister highlighted among the methods he believes Vision 2030 is opening new alternatives for youthful generations.

“Vision 2030 was designed to lay the foundations for growth, bringing the Kingdom together on a journey towards a common, prosperous future,” he stated.

With their digital-native abilities, they’ll take our financial system in thrilling new instructions, as we proceed to speed up the Kingdom’s diversification, increase the expansion of our non- oil sector, and purpose to develop into a high 15 world financial system by 2030.

Faisal bin Fadel Al-Ibrahim, Saudi minister of financial system and planning

“The new sectors being created by Vision 2030 provide an unprecedented opportunity for Saudi’s youth to drive the new economy. With their digital-native skills, they can take our economy in exciting new directions, as we continue to accelerate the Kingdom’s diversification, boost the growth of our non-oil sector, and aim to become a top 15 global economy by 2030,” he added.

Al-Ibrahim stated that the work the Ministry of Economy and Planning is presently doing contributes to the conclusion of Vision 2030.

He confused the ministry’s dedication to serving to develop future economists, researchers, and coverage planners is steady, and can carry this work ahead into the Kingdom’s future.

“I’m constantly amazed by what our youth can do when they are given the opportunity,” he stated.

“Empowering young people to work on, and ultimately invest in themselves, will only serve to strengthen our future labor market, boost productivity and enhance our global economic competitiveness,” he added.

Al-Ibrahim was a speaker on day two of the Misk Global Forum that concluded on Thursday in a session titled “The Generation Remaking the World,” the place he mentioned the methods of empowering the youth and the Kingdom’s future leaders with the abilities to navigate financial transformation inclusively and collaboratively.

“The energy and dynamism that is radiating from our young people today — which was on full display at the Misk Global Forum 2022 — is inspiring. They are our future and the guardians of tomorrow’s economy. And we must invest in them now to unlock the potential of the demographic dividend we have, with one of the world’s largest youth populations,” he stated.

The minister mentioned the significance of holding open discussions and gatherings to deal with world points from all views from the youth to older generations, such because the Misk Global Forum.

“There is tremendous value in opening your mind to young energy. Bringing different generational perspectives to any challenge only enhances the solutions we are able to design and execute,” he defined.

“As a nation, we are designing policies that work for all, in a forum that is open to people from across the generational spectrum to contribute to. This sends a very clear message to our youth that there is nothing stopping them from contributing meaningfully to the country’s economic transformation,” he added.

The minister additionally highlighted his ministry’s function within the Kingdom’s ambitions for sustainability below the UN’s Sustainable Development Cooperation Framework, signed in June this yr and operating till 2026.

“The Ministry of Economy and Planning recently established the Sustainable Development Steering Committee to oversee performance and coordinate efforts toward achieving the 17 Sustainable Development Goals,” he stated.

“It’s led by government experts from the Kingdom who are committed to ensuring the successful implementation of the national SDG agenda,” he added.

“To further enhance our thrust towards SDG realization, we signed the UN Sustainable Development Cooperation Framework in June to accelerate joint efforts to deliver progress on climate and sustainability.”

The framework is without doubt one of the important instruments to map out cooperation between the UN and the federal government of Saudi Arabia in sustainability. Some of the 17 targets the Kingdom is working with the UN to realize embody gender equality, schooling, reasonably priced and clear vitality, local weather motion, and sustainable cities and communities.

The framework is a joint effort between the Ministry of Economy and Planning, the Ministry of Foreign Affairs, and the UN.

The minister concluded the interview with recommendation to the youthful generations of their roles in contributing to the Kingdom’s Vision 2030.

“Developing a problem-solving mindset is crucial in today’s socioeconomic climate. And we’ve already seen clear evidence that they have it,” he stated.

“Everyone rallied behind the cause (during the COVID-19 pandemic) and responded to the moment because of this sense of ownership that came with being involved in it. The young people of Saudi Arabia showed themselves to be up for the challenge,” he stated.

“They are faced with several major challenges today, and they will have to develop resilience and agility to overcome them.”