Company introduction
Saudi Vision 2030
Vision 2030
-
A Vibrant Society
-
A Thriving Economy
-
An Ambitious Nation
-
The Kingdom’s “Vision 2030” comprises 96 strategic objectives, governed by a number of KPIs, that will be achieved through a number of initiatives codeveloped & executed by different governmental entities alongside private & NPOs within the respective ecosystems.
-
The Council of Economic and Development Affairs has set up an effective and integrated governance model with the aim of translating “Vision 2030” into multiple VRPs working in parallel to achieve the strategic objectives & realize the vision.
-
In order to build the capacity and capabilities required to achieve the ambitious goals of “Vision 2030,” the National Transformation Program was launched as a VRP involving 24 government agencies.
-
The Kingdom will achieve its “Vision 2030” objectives through three main pillars
12 Vision Realization Programs (VRPs)
Source : Vision 2030
-
National transformation
program -
PIF Program
-
NIDLP
-
National Financial
development program -
Lifestyle improvement
development program -
Enriching hajj &
Umrah Experience -
National companies
promotion program -
Strategic
partnership program -
The Housing program
-
The Privatisation
program -
Saudi character
enrichment program -
Fiscal balance
program
Vision 2030 Benefits
-
Improving Standard of Living
Investments in Quality of Life (QoL) and massive infrastructural developments will help lift Standard of living of
KSA residents -
Foreign Investments in the Kingdom
Economic diversification and new projects outside Oil & Gas sector has earned FDI inflows for the kingdom.
FDI flows increased by more than 120% between 2017 and 2018, reaching 3.2 billion. -
Boost in Tourism
Focus is to develop Saudi Arabia as the next big tourist destination in MENA, KSA’s travel & tourism sector is expected to
contribute $70.9 Bn in total to the country’s GDP in 2019. -
Lifting the Private Sector
Saudi government plans to lift private sector through ease of doing business in the kingdom and plans to create
1.2 million new jobs in the private sector by 2022. -
Focus on Entertainment and Cultural Activities
Apart from investing itself in different seasons across the regions the govt.
specifically wants to increase household spending on cultural and entertainment activities inside the Kingdom to 6%
-
Developing Public Sectors
In a bid to restructure its economy from oil driven to a diversified economy with strong public sector pillars health,
education, infrastructure, recreation and tourism.
Source : Vision 2030. Lloyds trade bank Atlantis council