A step in the right direction, Saudi Arabia’s Vision 2030 aims to shift the country’s economy from its dependence on fossil fuels like oil towards one that is more innovative and diverse.
Background
Saudi Arabia is blessed with natural resources, namely oil and gas that contributed to economic prosperity. However, this dependence was seen as being too narrow especially in light of the growth in domestic energy demand and population. This led to Saudi Vision 2030 based on the three pillars below.
A Thriving Economy
This Vision 2030 pillar looks at how to diversify the economy, focus on renewable energy, improve the environment for business and create special zones. An example of this would be the up and coming King Abdullah Financial District in Riyadh; apartments in the city the likes of Ascott Rafal Olaya Riyadh are also just a short drive away, providing easy access for business travellers.
A Vibrant Society
A country’s growth is not merely measured by economic success; that’s why Vision 2030 also focuses on creating a vibrant society where people find fulfilment. Emphasising aspects like Saudi heritage and Islamic culture, the focus here is on creating enriching social and health care systems, improving quality of life and promoting holistic well-being.
An Ambitious Nation
The focal points under this pillar include establishing a government that is not only accountable and transparent but effective too. It also involves empowering non-profit and private sectors as well as Saudi citizens to recognise they each have a role to play in the upliftment of self, family, society and the nation.
