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.
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 thrivingeconomy, and an ambitious nation are the three pivotal themes of the SaudiVisions through which the Saudi government is putting a ton of work to be apioneering 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 beachieved for several reasons; the strategic location connecting three continents,Asia, Europe, and Africa, and the holy Islamic status of Saudi Arabia, beingthe land of the Two Holy Mosques, the Kingdom's strenuous efforts towardsbecoming a global investment powerhouse, the richness of natural resources suchas oil, Gold, phosphate, uranium, and so many other precious minerals, and mostsignificant of all is the ambitious and supportive manpower.
How could the kingdom achieve its Vision 2030?
Vision 2030 includes 96 strategicobjectives to be achieved through certain initiatives and executive programsprepared by the Council of Economic and Development Affairs (CEDA). First ofthem is "The National Transformation Program" that adopts three essentialprinciples which are achieving governmental operational excellence, and enhancingeconomic enablers, and raising standards of living. The second one is "TheFinancial Sector Development Program" that is grounded in promoting the growthof 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 digitaltransformation, and the depth of the financial sector. The third one is "TheQuality of Life program 2020", this supposedly has direct objectives, which areencouraging sport activities in society, realizing excellence in several sportsdomestically and internationally, promoting and diversifying entertainmentopportunities so as to fulfill Saudi people's needs, and reinforcing theSaudi's arts and culture scene, and indirect objectives including, theeffective contributions to the development and diversity of the nationaleconomy. The fourth one is "The Privatization Program", which aims at boostingthe private sector role, raising the quality of the privatized governmentservices, cutting the government costs, attracting foreign direct investment,improving the balance of payments, and laying the government's focus on thepeople's interest. The fifth one is "The Fiscal Balance Program" helps inachieving fiscal balance, enhancing the government performance, and supportingthe social welfare system, and the sixth and last one is "The Public InvestmentProgram (PIF)" which ultimately targets diversifying the Kingdom's sources ofdevelopment and growth as well as reinforcing Saudi Arabia's role and influenceat both the regional and worldwide levels.
While there are some opinions thatvision 2030 achievement is failing, there are quite different views, sayingthat there is a kind of clear advancement in some fields despite the majorchallenges facing the Saudi government that has been already started inimplementing initiatives and programs.