Saudi Arabia is intensifying its commitment to economic diversification under the Vision 2030 initiative, aiming to reduce reliance on oil revenues and promote growth in the non-oil sector. Finance Minister Mohammed Al Jadaan emphasized the importance of foreign direct investment (FDI) for achieving a target of $100 billion by 2030, despite challenges in meeting this goal. The $925 billion Public Investment Fund (PIF) is shifting focus towards domestic projects, reducing overseas investments by a third. Additionally, energy localization efforts are gaining traction, with a goal of achieving 75% localization in the energy sector by 2030, as highlighted during the Energy Localization Forum. Recent reports indicate that the non-oil economy grew by 3.8% in the first half of 2024, driven by sectors such as trade and hospitality. Meanwhile, Saudi Arabia is making significant strides in expanding its renewable energy capacity, targeting 130GW by 2030.