“We have made remarkable progress in transforming our economy and society,” Saudi Arabia’s investment minister Khalid Al-Falih said at the Fortune Global Forum conference in Riyadh.

“At the end of 24, 85% of our initiatives were completed or are on track and most objectives were met or exceeded,” he added.

Offering a rare progress update ahead of the annual Future Investment Initiative conference that begins Tuesday, Al-Falih did not say what specific goals have been met, except that the regional headquarters of 675 companies are now located in the Saudi capital. Urging global companies to move their Middle East headquarters to Riyadh has been an element of the 2030 plan.

However, the multibillion-dollar Vision 2030 program faces delays and recalibrations as the kingdom faces economic headwinds and logistical constraints.

The program includes a set of initiatives aimed at diversifying Saudi Arabia’s economy away from dependence on oil, modernizing its society and positioning it as a global hub for investment and tourism.

The NEOM megacity project, for example, has faced repeated delays in its implementation and sources have told Reuters that the project has been scaled back as Riyadh prioritizes infrastructure projects considered essential to hosting global sporting events such as the 2034 World Cup.