Saudi Arabia " VISION 2030 " : Seeking to Position Saudi Arabia as a " Modernization Vision " and Taking off to the Future

SAUDI ARABIA 💙 Modernization Vision 2030 💙 Saudi Arabia's Vision 2030 is an ambitious strategic plan launched in 2016 aimed at diversifying the country's economy and reducing its dependence on oil. The plan encompasses economic, social, and cultural reforms designed to transform the kingdom into a global investment powerhouse, an advanced manufacturing hub, and a leader in digital innovation. Here are some key areas of focus within Vision 2030. Vision 2030 seeks to shift the Saudi economy away from oil by promoting other industries like tourism, finance, healthcare, entertainment, and renewable energy. Vision 2030 is ambitious, seeking to position Saudi Arabia as a modernized, diversified economy and society by the end of the decade. The plan is integral to the kingdom's goal of becoming a global leader in sustainability, tourism, innovation, and cultural development, while transforming the lives of Saudi citizens and residents.

🔸️Saudi Arabia’s Vision 2030🔸️ 1 🟢 Economic Transformation and Industrial Diversification 🔹️ Privatizatio Vision 2030 includes plans to privatize parts of the Saudi economy, particularly state-owned enterprises, such as Saudi Aramco, the world’s largest oil company. The partial IPO of Aramco has already taken place, with further privatization expected in industries like healthcare, education, and utilities. 🔸️ Small and Medium Enterprises (SMEs) The plan aims to increase the SME sector's contribution to GDP from 20% to 35% by offering funding, reducing regulatory barriers, and encouraging entrepreneurship. 🔹️ Industrial Clusters New industrial cities and clusters are being established to foster growth in key sectors like petrochemicals, mining, and automotive manufacturing.

2 🟠 Mega Projects as Pillars of Transformation 🔹️ Neom This $500 billion mega-city on the Red Sea is planned as a hub for technology and innovation, featuring automated services, flying taxis, and zero-emission living. Neom will host "The Line", a 170-kilometer-long linear city that claims to have no cars, streets, or emissions. 🔸️ Amaala Situated along the northwestern Red Sea coast, this wellness tourism destination will focus on high-end experiences, incorporating elements of health, arts, and sustainable tourism. 🔹️ The Red Sea Project Envisioned as a luxury ecotourism destination with over 90 islands, this project will include sustainable resort facilities and aims to be powered by 100% renewable energy. 🔸️ Qiddiya A sprawling entertainment city near Riyadh that includes a Six Flags theme park, motor sports facilities, and sports academies, Qiddiya aims to become a leading entertainment and sports destination in the region. 🔹️ Diriyah Gate This heritage tourism development near Riyadh celebrates Saudi Arabia’s cultural heritage and will showcase historic sites, luxury resorts, museums, and cultural centers.

3 🔵 Workforce Development and Education Reform 🔹️ Human Capital Development Vision 2030 aims to reduce unemployment to 7% by creating new jobs in diversified sectors and enhancing skill levels. Programs like "Nitaqat" promote Saudization, encouraging companies to employ more Saudis. 🔸️ Education and Skill Building By reforming educational curricula, Vision 2030 aims to better align education with the needs of the labor market, especially in STEM fields. The "Human Capability Development Program" has been introduced to address this, with goals for lifelong learning, scholarships, and international partnerships.

4 🔴 Women’s Empowerment and Social Reforms 🔹️ Increasing Workforce Participation Vision 2030 has set a goal to raise women’s participation in the workforce from 22% to 30%, with women now permitted to drive, attend sports events, and work in more industries. 🔸️ Women’s Rights and Mobility Restrictions on women’s travel, guardianship, and employment are being eased, with new laws promoting women’s rights and family protection. 🔹️ Entertainment and Culture Saudi Arabia has seen rapid growth in its entertainment and cultural sectors, with cinemas reopening, concerts and sports events allowed, and restrictions on public life relaxing.

5 🟣 Renewable Energy and Sustainability Goals 🔹️ Solar and Wind Projects The kingdom has launched several major solar and wind projects, aiming to produce 58.7 gigawatts from renewables by 2030, thus reducing reliance on oil for domestic energy needs. 🔸️ Hydrogen Production Saudi Arabia is positioning itself as a leader in green hydrogen, with major investments in hydrogen production and export aimed at establishing the country as a global green energy provider. 🔹️ Green Saudi Initiative This initiative includes commitments to plant 10 billion trees within the kingdom to combat desertification and reduce carbon emissions. There’s also a plan to establish a “circular carbon economy” to address climate change.

6 🟡 Technological and Digital Advancement 🔹️ Digital Government The goal is to increase online services and enhance government efficiency, with an aim to rank among the top 5 countries in e-Government. Initiatives include the Absher platform for citizens and the Tawakkalna app, which gained prominence during COVID-19. 🔸️ Artificial Intelligence and Robotics Vision 2030 includes a focus on developing AI, with initiatives like the "Saudi Data and Artificial Intelligence Authority (SDAIA)" aiming to make Saudi Arabia a global leader in AI by 2030. 🔹️ Smart City Innovation Projects like Neom aim to embed smart infrastructure, AI, and Internet of Things (IoT) solutions in urban planning, making them self-sustaining and environmentally friendly.

7 🟢 Tourism and Cultural Revitalization 🔹️ Promotion of National Heritage Vision 2030 includes plans to protect Saudi Arabia’s UNESCO World Heritage sites, such as Al-Ula and Diriyah, while developing new cultural hubs, theaters, and museums. 🔸️ Opening to International Tourism The Saudi tourism authority has begun issuing tourist visas to non-religious travelers. Saudi Arabia aims to attract 100 million tourists by 2030, aiming for the tourism sector to contribute 10% to the GDP. 🔹️ Entertainment and Sports Events New entertainment options, including major sporting events like Formula 1 races, boxing matches, and international music festivals, are being organized to build Saudi Arabia’s profile as a global destination for sports and entertainment.

8 🟠 Global Partnerships and Foreign Investment 🔹️ Attracting FDI Vision 2030 aims to increase foreign direct investment (FDI) from 3.8% to 5.7% of GDP by simplifying regulations, offering tax incentives, and opening new investment opportunities. 🔸️ Strategic International Alliances Saudi Arabia has formed partnerships with various countries and global corporations in sectors such as defense, technology, and energy to bolster economic growth and knowledge transfer.

9 🔵 Monitoring and Governance 🔹️ National Transformation Program (NTP) To achieve Vision 2030 goals, the NTP monitors progress through KPIs, with quarterly and annual assessments of project outcomes and economic impact. 🔸️ Fiscal Balance Program This program seeks to manage public finances, reduce budget deficits, and support sustainable spending to balance the government’s fiscal needs with Vision 2030 initiatives.

⭐ Challenges☆ ☆ While Vision 2030 holds significant promise, it also faces challenges. 🔹️ Economic Risks ☆ Reduced oil revenue could strain funding for projects if oil prices remain low. 🔸️ Social Adaptation ☆ The rapid social changes and new freedoms might face resistance from conservative segments of Saudi society. 🔹️ Environmental and Sustainability Concerns ☆ Balancing rapid urbanization with sustainability, especially in regions prone to desertification, presents challenges.

Overall, Vision 2030 reflects Saudi Arabia’s aspirations to position itself as a diversified and sustainable economy, a leader in innovation and renewable energy, and an attractive hub for tourism and investment, while also achieving a higher quality of life for its citizens.☆