Saudi Arabia Vision 2030 A Grand Plan for Sustainable Growth and Development

Saudi Arabia​ Vision 2030 A Grand Plan for Sustainable Growth and Development

Image Source: ​https://www.vision2030.gov.sa/

The historic Vision 2030 for Saudi Arabia was initially developed by the council of Economic and Development Affairs. This council is chaired by the dynamic Deputy Crown ​Prince Mohammed bin Salman​.

The vision envisages a sustainable growth, development and progress for the kingdom to reach new heights by the year 2030. It is a bold vision that is future-oriented and backed by visionary leadership.

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This vision includes a number of goals and objectives that ensure implementing strategic reforms to bring long-term economic success for the country. The country also plans to promote its rich heritage, culture and traditions, through tourism by providing the best facilities.

This vision is built around three primary themes to propel the country in the right direction and achieve all-round sustainable growth, for the Kingdom of Saudi Arabia.

The most holy site for Muslims across the world “​The Mecca and Medina​” are located in the kingdom of Saudi Arabia.

A Brief Idea about Saudi Arabia

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Saudi Arabia is officially known as the ​Kingdom of Saudi Arabia​ and is located in western Asia in the Arabian peninsula. It is one of the largest sovereign states in western Asia.

It is the second-largest country in the Arab world and the fifth largest in Asia.

The kingdom of Saudi Arabia is bordered by Iraq, Jordan, Kuwait, Qatar, Bahrain, UAE, Oman and Yemen.

Its terrain consists of arid deserts, mountains, lowlands and steppes. Saudi Arabia has one of the world’s youngest populations and the economy has been majorly sustained by oil and gas exports. Saudi is the world’s second-largest producer of ​crude oil​ after the US.​ ​Its economy is the largest economy in the middle east and the ​18​th largest globally.

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Riyadh is the capital city of Saudi and Arabic is the official language. Islam is the major religion followed in the kingdom and the monarchy follows a strict disciplinary code of ethics and values based on it.

The Saudi Arabia Vision 2030

The vision’s blueprint primarily aims to transform the kingdom from a petro- state to an industrial and manufacturing based economy.

This vision is built around three major themes which have specific objectives that need to be achieved by the year 2030. The following are the main themes and details for each theme.

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1. A Vibrant Society

In order to build and achieve a vibrant society, Saudi Arabia will have more focus on its people, culture and the Islamic faith.

This will be made possible by a series of commitments like; increasing the total number of Umrah visitors from 8 million to 30 million annually, doubling the number of UNESCO heritage sites, establishing one of the world largest Islamic museums, promoting the growth of cultural and entertainment opportunities, etc.

The vision also focuses on e ​ ncouraging healthy lifestyles​ for its people by promoting healthy eating habits and creating an active lifestyle, along with

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adequate b ​ ody exercise​. It also includes developing Saudi cities, so that at least three cities can be recognized in the top 100 global cities.

2. A Thriving Economy

The kingdom needs to diversify its economy and create more job opportunities for its citizens. This can only happen through sustained efforts and commitments to education, entrepreneurship and innovation.

It includes the diversification of the economy through privatization of state-owned assets and establishing a sovereign wealth fund that will be financed through the partial I​ PO of Saudi Aramco​.

This will help to unlock the potential of lagging industries like manufacturing, tourism and renewable energy. The plan also seeks to increase the number of women in the workforce and improve global competitiveness.

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The government will also seek to attract more FDI into the country to garner funds to achieve all its ambitious goals.

The kingdom is also keen on increasing non-oil exports rather than being dependent only on the oil and gas economy. The infrastructure and logistics are also being developed to meet global standards to support the vision 2030 plans.

3. An Ambitious Nation

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Saudi Arabia wants to be an ambitious nation and will hence focus on a few core issues like accountability, transparency and effectiveness in its strategy

to govern the nation well. Along with supporting and promoting the growth of businesses that generate non-oil revenues they will promote e-governance to ensure quick and easy government services accessibility.

There will be zero tolerance for corruption and transparency will be boosted across all operations to ensure fairness and justice. The government will help the people to boost their household savings and income while promoting the non-profit sector and taking adequate social welfare measures.

A human capital development program would train more than 5,00,000 government employees in best practices to improve their skills, efficiency and impact.

Conclusion The Saudi Arabia Vision 2030 plan is the first step for the nation to achieve its economic aspirations and transform the lives of its people. Currently, oil accounts for 30 to 40% of the real GDP and hence decreasing this proportion has been one of the goals of the government since the early 1970s. Most of the middle east countries have their own national visions for a better future.

The country wants to boost its manufacturing capabilities in areas like plastics, chemicals, ​electronics​, fertilizers, ​automobile components​, ceramic, cement, packaged food, etc. A new modern city “​Neom​” is being planned to become a model city to the world.

The vision intends to make the country the heart of the Arab and Islamic worlds and also become a global investment powerhouse. Saudi Arabia is moving fast and is expected to grow rapidly due to its robust planning and dynamic leadership.

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