Insights What is the Saudi 2030 Vision?

In 2016, Crown Prince Mohammad bin Salman unveiled the Saudi Vision 2030, a transformative economic and social reform blueprint that is opening Saudi Arabia up to the world. The strategy is a long-term vision to diversify the economy and transition the country away from its reliance on fossil fuel extraction and oil exports toward a low-carbon future

The Saudi Vision 2030 plan was unveiled six years ago, outlining the country's unique and unparalleled commitment to becoming a leader in a fast-changing global environment. As oil prices continue to adjust to new economic realities of nations throughout the Middle East, Saudi Arabia's proactive decision to embrace change will have enormous benefits.

The Saudi Vision 2030 is a roadmap for the country's efforts to equip its millions of young people with the skills they need to succeed in a globalised world that increasingly sees petroleum as an antiquated and dangerous resource and is vying for more sustainable solutions. 

Saudi Arabia is positioned to serve as an example to the rest of the globe of how governments may use policy reform to improve the lives of people both inside and outside the country's boundaries at a time when other countries are slow to adapt to climate change and other geo-economic developments.

Here we take a look at how Saudi Vision 2030 three pillars are set to transform the nation. 

Vibrant Society

The first pillar of the Saudi Vision 2030 is to build a more vibrant society and to create more options that enhance the participation and experience of citizens and residents.

The minds behind the pillar will aim to expand the horizons of many sectors that directly impact citizens, including sports, culture and entertainment. It will work on diversifying entertainment opportunities, such as inaugurating the innovative theme park in the Kingdom and promoting a range of entertaining events such as the Dakar Rally. 

The initiative has made a significant contribution to the creation of a number of cultural museums and music festivals. Several academies and initiatives, such as the Mahd Sports Academy and the Talent Development Program, have been launched as part of the program's investment in building Saudi human resources in various fields.

Thriving Economy

A key focus for Vision 2030 is on creating an environment that unlocks business opportunities, broadens the economic base, and creates jobs for all Saudis. Saudi Arabia will attempt to achieve this by leveraging its unique location and potential, attracting the best talent, and increasing global investment.

Saudi Arabia is geographically placed on an important international trade route between three continents: Asia, Europe and Africa. The Vision will maximise the benefits of the country’s exceptional location, form new strategic partnerships to grow its economy, and help Saudi companies to increase exports of their products. 

Additionally, Saudi Arabia is aiming to diversify its economy for sustainability as well as building a culture that helps the next generation realise their potential and drive the future of the nation.  

An Ambitious Nation

In order to be an ambitious nation, Saudi Arabia will focus on accountability, transparency and effectiveness in its governing strategy. The roles and requirements of government have grown significantly since the Kingdom’s founding and the Vision aims to help it evolve to keep pace with changing expectations and new challenges. Ambitious projects, such as building Neom >building the new smart city NEOM, outline the ambition that Saudi Arabia is showing to be a leading global powerhouse. 

In order to realize the country's full potential, Saudi Arabia is enabling citizens, the private sector, and non-profit organisations to take the initiative and contribute to a prospering country. 

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