Saudi Vision 2030
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| NEW RIYADH |
Saudi Vision 2030
'' My first goal is for our country to be a successful and pioneering model in the world in all aspects, and I will work with you to achieve that.''
Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud
Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud
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| king Salman Al Saud |
Saudi Vision 2030 is a post-oil plan for the Kingdom of Saudi Arabia announced on April 25, 2016, coinciding with the specified date for the completion of 80 giant government projects, each costing no less than 3.7 billion Saudi riyals and up to 20 billion Saudi riyals, as in the Riyadh Metro project.
Since then, it has become the guiding beacon for the Kingdom's steps towards the future, and the pulsating heart of its ambition to achieve social, cultural, and economic transformation.
Increasing the contribution of small and medium enterprises to the gross domestic product from 20% to 35%.
Increasing the value of assets under the management of the Public Investment Fund from $160 billion to $1.07 trillion by 2025.
Increasing the contribution of the private sector to the gross domestic product from 40% to 65%.
Improving the Kingdom's ranking on the Global Competitiveness Index from 25th to 10th.
"Our country has huge investment capabilities, and we will strive for it to be a driving force for our economy and an additional resource for our country... We will open a wide field for the private sector to be a partner, by facilitating and encouraging its business, to grow and become one of the world's largest economies, and to become a driver for employing citizens and a source of achieving prosperity for the nation and well-being for all. This promise is based on cooperation and partnership in bearing responsibility."
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud
It encourages diversifying sources of income and increasing savings culture, as well as diversifying financing methods and investment projects. It plays a fundamental and important role in transforming the Saudi financial sector into a center of strength for growth and economic diversity, through establishing a vibrant and efficient financial sector.
It is based on a medium-term financial planning mechanism that contributes to maintaining the sustainability and strength of the Saudi economy, providing a balanced budget, in addition to its efforts to achieve financial discipline and develop public finances through the establishment of various entities, including the Efficiency of Expenditure Authority, government projects, the National Debt Management Center, and the Revenue Development Center.
It focuses on public health in all its components, working to facilitate access to health services and improve their quality by developing and enhancing hospitals, healthcare centers, emergency services, and promoting digital health transformation. It emphasizes prevention over treatment, maintaining human health inside and outside the hospital walls, and enhancing road safety.
The program enables the private sector to participate in the transformation journey and supports the Kingdom's efforts to achieve its health goals, ensuring that citizens, residents, and visitors receive high-quality healthcare.
Since then, it has become the guiding beacon for the Kingdom's steps towards the future, and the pulsating heart of its ambition to achieve social, cultural, and economic transformation.
The ambitious goals of Saudi Vision 2030 are based on three main pillars:
1. Vibrant Society
Increase the contribution of foreign direct investment to the GDP from 3.8% to 5.7%.Increasing the contribution of small and medium enterprises to the gross domestic product from 20% to 35%.
Increasing the value of assets under the management of the Public Investment Fund from $160 billion to $1.07 trillion by 2025.
2. Prosperous economy
Improving the Kingdom's ranking from 19th to 15th among the world's largest economies.Increasing the contribution of the private sector to the gross domestic product from 40% to 65%.
Improving the Kingdom's ranking on the Global Competitiveness Index from 25th to 10th.
3. Ambitious nation
Increasing the localization rate in the oil and gas sectors from 40% to 75% and increasing the value of non-oil government revenues from $43 billion to $267 billion..webp) |
| Prince Mohammed bin Salman |
"Our country has huge investment capabilities, and we will strive for it to be a driving force for our economy and an additional resource for our country... We will open a wide field for the private sector to be a partner, by facilitating and encouraging its business, to grow and become one of the world's largest economies, and to become a driver for employing citizens and a source of achieving prosperity for the nation and well-being for all. This promise is based on cooperation and partnership in bearing responsibility."
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud
Vision Realization Programs
1. Financial Sector Development Program
It encourages diversifying sources of income and increasing savings culture, as well as diversifying financing methods and investment projects. It plays a fundamental and important role in transforming the Saudi financial sector into a center of strength for growth and economic diversity, through establishing a vibrant and efficient financial sector.
2. Financial Sustainability Program
It is based on a medium-term financial planning mechanism that contributes to maintaining the sustainability and strength of the Saudi economy, providing a balanced budget, in addition to its efforts to achieve financial discipline and develop public finances through the establishment of various entities, including the Efficiency of Expenditure Authority, government projects, the National Debt Management Center, and the Revenue Development Center.
3. Health Sector Transformation Program
It focuses on public health in all its components, working to facilitate access to health services and improve their quality by developing and enhancing hospitals, healthcare centers, emergency services, and promoting digital health transformation. It emphasizes prevention over treatment, maintaining human health inside and outside the hospital walls, and enhancing road safety.
The program enables the private sector to participate in the transformation journey and supports the Kingdom's efforts to achieve its health goals, ensuring that citizens, residents, and visitors receive high-quality healthcare.
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| KSA vision 2030 |
4. Housing Program
Believing that the family is the beating heart of society, the Kingdom realized that every family has the right to enjoy security and comfort in the home that holds the most beautiful memories of life. Hence, efforts were made to facilitate Saudi families' access to financial support for home ownership, simplify procedures and regulations, digitize contracts and documents, which contributed to increasing the home ownership rate from 47% to over 60% by the end of 2022.5. Human Capacity Development Program
To enhance the global competitiveness of citizens in building an ambitious national strategy for developing citizen's capacities, starting from early childhood stages, through general education, higher education, technical and vocational training, and lifelong learning, involving government entities, the private sector, and the non-profit sector.6. The program for developing national industry and logistic services
Saudi Arabia has embarked on a journey towards the future, aiming to become a leading industrial force and a global logistic center, after setting an ambitious plan that relies on the strengths of the Kingdom.
The program leverages the unique strategic location of the Kingdom, connecting three continents and serving as a global commercial hub, abundant in natural resources such as mining and energy. It possesses all the qualifications to become an industrial hub and a leading logistic center.
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| KSA Flag |
7. National Transformation Program
This is the noticeable and driven change and growth that includes easy government digital services, saving effort and time, as well as enhancing the role of the private sector to facilitate the lives of citizens. It prioritizes financial security for citizens and offers a diverse and innovative range of services that reflect Saudi leadership and the global development it is witnessing.8. Program for Serving the Guests of the Merciful
The Kingdom of Saudi Arabia has the honor of serving the Two Holy Mosques and their guests, welcoming millions annually from all around the world, in addition to citizens and residents of the Kingdom, to perform the pilgrimage and Umrah rituals with ease and convenience.It provides those coming to the Two Holy Mosques from both abroad and within with high-quality facilities, advanced infrastructure, and digital services, enabling everyone to have a unique and unforgettable spiritual experience.
9. Allocation Program
It enhances the role of the private sector in providing services, improving their quality and operational efficiency in general, and reducing costs on the government, thereby allowing governmental efforts to focus on legislative and regulatory roles and encouraging innovation in the private sector in line with the goals of Saudi Vision 2030 to achieve economic diversification and enhance the Kingdom's competitiveness.10. Public Investment Fund Program
With confident and steady steps, it solidifies its position in shaping the global economy, allowing the Kingdom to gain a great international reputation as an investment powerhouse, helping the private sector to thrive and evolve further.Five massive projects launched by the program will draw a bright future for the Kingdom, leading it towards global leadership and sustainability, including the futuristic destination "NEOM," which will incorporate the smartest technologies in the world for entrepreneurial leadership, "Roshan," offering modern communities and developing lifestyle patterns, "The Red Sea," the most enchanting project in the world promising a new approach to tourism in the Kingdom and globally; "Qiddiya," the capital of entertainment, sports, and arts in the Kingdom, and the "Diriyah" project as one of its kind globally, rich in cultural, heritage, and tourist elements.
11. Quality of Life Program
Any citizen, resident, or visitor can now watch the latest international movies in cinema theaters in the Kingdom, attend global sports and artistic events held for the first time, and enjoy the treasures and valuable secrets listed on the UNESCO World Heritage List within Saudi Arabia. |
| New Riyadh |
The most important projects of Vision 2030
Desalination plant with absorption technology.King Salman Global Complex for Maritime Industries and Services.
Composite materials factory for aircraft structures production.
Saudi Air Warfare Center.
Low-energy research reactor.
Sakaka Solar Energy Project.
Factory for the production of solar panels and cells and reliability lab.
Desalination project for saline water using solar energy.
Saudi National Company for Automotive Industry.
Saudi Genome Program.
Red Sea Project.
King Salman Energy City Project.
NEOM Project.
The Line Project.
Roshan Project.
Riyadh Art Project.
Made in Saudi Arabia.
Green Saudi Arabia.
Green Middle East.
Green Riyadh.
Qiddiya Project.
Riyadh Sports Path Project.
King Salman Park.
Greater Riyadh Projects.
Tuwaig International Sculpture Symposium.
New Taif Project.
Diriyah Gate Project.
Ula Development Project.
Soudah Development Project.
Downtown Jeddah Project.
Central Jeddah Project.
Jeddah Internet District.
Mohammed bin Salman Project for the Development of Historical Mosques.
Saudi Internet District.
Amala Project.
Faisaliah City.