A Vision Realized.. A Nation Advancing

On behalf of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, inaugurated the work of the second year of the ninth session of the Shura Council, delivering the annual royal speech that outlined the features of the Kingdom's next phase on all local, regional, and international fronts.

His Royal Highness the Crown Prince began the speech by emphasizing the constants upon which the state was founded three centuries ago: upholding Islamic law, establishing justice, and the principle of Shura (consultation), considering the service of the Two Holy Mosques an honor and a privilege for which the Kingdom mobilizes all its capabilities.

His Royal Highness revealed a historic achievement: the contribution of non-oil activities has exceeded 56% of the Gross Domestic Product (GDP), which reached over four and a half trillion riyals. This has made the Kingdom a global center attracting investments, with 660 international companies choosing the Kingdom as their regional headquarters, thereby surpassing the 2030 target.

His Royal Highness clarified that the Kingdom is on its way to becoming a global center in the field of artificial intelligence through the agreements that have been signed. It is also working to elevate its defense capabilities to the highest global levels and has raised the localization rate in the military industry to over 19%.

His Royal Highness affirmed that the state recognizes the importance of having strong public finances that do not rely on a single source, which positively reflects on developing diverse job opportunities. He pointed to the achievement of many objectives, including unemployment reaching its lowest levels, an increase in women's participation rate in the labor market, and a decrease in the percentage of low-income individuals.

His Royal Highness pledged to continue assessing the economic and social impact of public spending to ensure resources are directed toward national priorities, serving the citizen, increasing their income, raising the level of services provided, and improving the quality of life.

His Royal Highness indicated that the strong economic growth was accompanied by a rise in residential real estate prices in some areas to unacceptable levels, which necessitated working on policies to rebalance this sector, reduce property costs, and encourage investment in real estate development.

His Royal Highness affirmed that the Kingdom's internal achievements go hand in hand with its endeavors to achieve security and stability in the region. He expressed the Kingdom's rejection and condemnation of the brutal Israeli aggressions on the Gaza Strip, stressing that "the land of Gaza is Palestinian, and the right of its people is steadfast and cannot be usurped by aggression."

His Royal Highness emphasized the Kingdom's firm stance on supporting the Palestinian right and working hard to prevent its violation, praising the Arab Peace Initiative launched by the Kingdom in 2002 and its achievement of increasing international support for the recognition of the State of Palestine.

His Royal Highness also addressed the Kingdom's pivotal positions on regional issues, from Syria to Lebanon, Yemen, and Sudan, highlighting its humanitarian efforts and its endeavors to achieve stability.

His Royal Highness praised the important role of the Shura Council in achieving accomplishments through its contribution to developing regulations and completing and modernizing the legislative system.

His Royal Highness affirmed that everything the leadership is working for aims to elevate the citizen and advance the Kingdom in various fields, expressing determination to continue achieving the targets while upholding the public interest as the highest goal.