Within a relatively short amount of time, Saudi Arabia has made many of great strides and sweeping changes at different fronts; diversifying its
economy, promoting the private industry, facilitating investment, eliminating unemployment, fostering innovation, empowering woman, and modernizing the Saudi citizen’s mindset. These can be simply called the main pillars of vision 2030. This article will provide answers to most of questions that may arise in your minds around the vision.
What themes of Vision 2030 are?
Within a relatively short amount of time, Saudi Arabia has made many of great strides and sweeping changes at different fronts; diversifying its economy, promoting the private industry, facilitating investment, eliminating unemployment, fostering innovation, empowering woman, and modernizing the Saudi citizen’s mindset. These can be simply called the main pillars of vision 2030. This article will provide answers to most of questions that may arise in your minds around the vision.
Having a vibrant society, a thriving economy, and an ambitious nation are the three pivotal themes of the Saudi Visions through which the Saudi government is putting a ton of work to be a pioneering and successful global model of excellence.
What themes of Saudi’s Vision 2030 are?
Why do we expect the success of Vision 2030?
Vision 2030 is highly expected to be achieved for several reasons; the strategic location connecting three continents, Asia, Europe, and Africa, and the holy Islamic status of Saudi Arabia, being the land of the Two Holy Mosques, the Kingdom’s strenuous efforts towards becoming a global investment powerhouse, the richness of natural resources such as oil, Gold, phosphate, uranium, and so many other precious minerals, and most significant of all is the ambitious and supportive manpower.
How could the kingdom achieve its Vision 2030?
Vision 2030 includes 96 strategic objectives to be achieved through certain initiatives and executive programs prepared by the Council of Economic and Development Affairs (CEDA). First of them is “The National Transformation Program” that adopts three essential principles which are achieving governmental operational excellence, and enhancing economic enablers, and raising standards of living. The second one is “The Financial Sector Development Program” that is grounded in promoting the growth of the private sector through empowering the financial institution, establishing an advanced capital market, and fostering the financial planning, and this is to achieve main five objectives, which are the financial diversity, the financial inclusiveness, the financial stability, the digital transformation, and the depth of the financial sector. The third one is “The Quality of Life program 2020”, this supposedly has direct objectives, which are encouraging sport activities in society, realizing excellence in several sports domestically and internationally, promoting and diversifying entertainment opportunities so as to fulfill Saudi people’s needs, and reinforcing the Saudi’s arts and culture scene, and indirect objectives including, the effective contributions to the development and diversity of the national economy. The fourth one is “The Privatization Program”, which aims at boosting the private sector role, raising the quality of the privatized government services, cutting the government costs, attracting foreign direct investment, improving the balance of payments, and laying the government’s focus on the people’s interest. The fifth one is “The Fiscal Balance Program” helps in achieving fiscal balance, enhancing the government performance, and supporting the social welfare system, and the sixth and last one is “The Public Investment Program (PIF)” which ultimately targets diversifying the Kingdom’s sources of development and growth as well as reinforcing Saudi Arabia’s role and influence at both the regional and worldwide levels.
While there are some opinions that vision 2030 achievement is failing, there are quite different views, saying that there is a kind of clear advancement in some fields despite the major challenges facing the Saudi government that has been already started in implementing initiatives and programs.