Primary goal of Saudi Vision 2030

by ADeeL

Primary goal of Saudi Vision 2030 is a strategic framework that aims to reduce Saudi Arabia’s dependence on oil, diversify its economy, and develop public service sectors such as health, education, infrastructure, recreation, and tourism. The vision was launched in 2016 by His Royal Highness the Crown Prince, under the leadership of the Custodian of the Two Holy Mosques.

The main aim of Saudi Vision 2030 is to transform the Kingdom into a leading global hub that connects three continents: Africa, Asia and Europe. The vision draws on the nation’s intrinsic strengths, such as its strategic location, investment power, and place at the heart of the Arab and Islamic worlds. The vision also seeks to improve the quality of life of Saudi citizens by creating more opportunities for education, employment, entrepreneurship, and entertainment.

The vision consists of three themes: a vibrant society, a thriving economy, and an ambitious nation. Each theme has a set of goals and indicators to measure progress and achievements. Some of the key goals include:

  • Increasing the share of non-oil GDP from 16% to 50% by 2030
  • Raising the ranking of Saudi Arabia in the Global Competitiveness Index from 25th to among the top 10 countries by 2030
  • Increasing women’s participation in the workforce from 22% to 30% by 2030
  • Increasing the contribution of SMEs to GDP from 20% to 35% by 2030
  • Increasing the number of tourists from 18 million to 100 million annually by 2030
  • Increasing household spending on cultural and entertainment activities from 2.9% to 6% by 2030
Primary goal of Saudi Vision 2030

To achieve these goals, Saudi Vision 2030 relies on partnerships with the private and third sectors, as well as the active participation of Saudi citizens. The vision also leverages the Public Investment Fund (PIF) as a key driver of economic diversification and innovation. The PIF has launched several mega-projects, such as NEOM, Qiddiya, Red Sea Project, Amaala, and Riyadh Metro, to create new sectors and industries for the future.

Saudi Vision 2030 is a bold and audacious dream of a new future for Saudi Arabia. It is an expression of confidence and ambition that reflects the aspirations and potential of the Saudi people. It is also a roadmap for achieving sustainable development and prosperity for generations to come.

What number of strategies does Vision 2030 contain?

Vision 2030 is a comprehensive roadmap for the future of Saudi Arabia, launched by His Royal Highness the Crown Prince in 2016. It aims to harness the strengths and potential of the Kingdom to achieve its ambitions in three main themes:

a vibrant society, a thriving economy and an ambitious nation.

One of the key aspects of Vision 2030 is the development and implementation of Vision Realization Programs (VRPs), which are strategic initiatives that translate the vision into specific objectives, targets and actions. According to the official website of Vision 2030, there are currently 13 VRPs that cover various sectors and domains, such as housing, quality of life, tourism, culture, health, education, energy, environment and digital transformation.

Each VRP has its own governance structure, budget, timeline and performance indicators. Some of the VRPs are led by government entities, while others are led by the Public Investment Fund (PIF), which is the sovereign wealth fund of Saudi Arabia and a key driver of economic diversification and growth. One of the most prominent VRPs led by PIF is NEOM, which is a futuristic mega-city project that aims to create a new model of innovation, sustainability and livability in the north-western region of the Kingdom.

In addition to the VRPs, Vision 2030 also involves partnerships and collaborations with various stakeholders, such as the private sector, the third sector (non-governmental organizations), international organizations and other countries. For example, the International Federation of Red Cross and Red Crescent Societies (IFRC) has developed its own Strategy 2030 that aligns with some of the goals and challenges of Vision 2030, such as supporting local actors, mobilizing volunteerism and enhancing resilience.

In summary, Vision 2030 contains a number of strategies that aim to transform Saudi Arabia into a leading global hub for innovation, investment and social development. These strategies are implemented through VRPs that have clear objectives, targets and actions. Vision 2030 also relies on partnerships and collaborations with various stakeholders to achieve its vision.

Conclusions: Primary goal of Saudi Vision 2030

Primary goal of Saudi Vision 2030 is an ambitious plan for the Kingdom of Saudi Arabia to diversify its economy, modernize its society and improve its infrastructure. The primary goal of this vision is to reduce the kingdom’s dependence on oil revenues, by transforming the economy into one that is diversified, competitive and prosperous. It also seeks to create new job opportunities, improve public services and attract foreign investment.

Also Read: Jobs at NEOM: A New Future for Saudi Arabia

Also Read: What is NEOM? A Smart City of the Future

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