RIYADH — Saudi Arabia’s gross domestic product has more than doubled since the launch of Vision 2030, reaching SR4.7 trillion ($1.25 trillion) by the end of 2024, up from SR2.6 trillion ($693 billion) in 2016, Investment Minister Khalid Al-Falih said on Monday.Speaking at a government press conference in Riyadh, Al-Falih said the economic expansion reflects not only numerical growth but also deep structural reforms that have reshaped the labor market and strengthened private sector competitiveness.He said the Saudi economy has generated 800,000 new jobs, underscoring the vitality of emerging sectors and their growing capacity to create employment opportunities.Al-Falih added that foreign direct investment has quadrupled by the end of 2024, and is expected to reach SR150 billion ($40 billion) in 2025.On investor activity, the minister said the number of Saudi investors has exceeded 1.86 million, reflecting strong participation in economic activity and improved growth incentives, particularly for small and medium-sized enterprises.He noted that the number of registered foreign investors has reached 62,000, while Saudi nationals remain the dominant force in the business sector, supported by nearly 1.8 million Saudi commercial registrations.Al-Falih also said more than 700 multinational companies have obtained licenses to establish regional headquarters in Saudi Arabia by the end of 2025.Highlighting workforce participation, he said the contribution of women to the Saudi economy has doubled, while wages for Saudi employees in the private sector have risen by 45%, pointing to improved job quality.As part of efforts to diversify income sources, Al-Falih said the contribution of non-oil sectors reached 56% of the national economy for the first time in the Kingdom’s history, marking a milestone in reducing reliance on oil revenues and demonstrating tangible results of Vision 2030.Commenting on Saudi Arabia’s participation in the World Economic Forum in Davos, Switzerland, Al-Falih said the Kingdom’s economic outlook stood out positively at a time when pessimism and concern dominated discussions among many global delegations.