With the industrial and service prosperity in addition to technical progress around the world, you will notice that most countries are trying to exploit their potential in order to turn into one of the most important investment destinations for other countries, and from this point of view, the State of Saudi Arabia has established a scheme under the name of the Kingdom’s Vision 2030, we will learn together about its content Through these lines, let's continue then..
What is the Kingdom's vision for 2030?
The Kingdom’s vision for 2030 is a step beyond oil for the Kingdom of Saudi Arabia. It was announced on April 25, 2016. This plan was organized by the Council of Economic and Development Affairs headed by Prince Muhammad bin Salman, and presented to the Council of Ministers headed by King Salman bin Abdulaziz Al Saud. To in turn adopt it, both the private and public sectors, even the non-profit sectors, contribute to its realization.
Since the launch of the vision of the Kingdom of Saudi Arabia 2030, the focus has been on building, improving regulations and legislation, implementing economic and social reforms, and that was through a wide range of initiatives that brought about tremendous achievements that had not been witnessed before, which led to placing Saudi Arabia on the right track to achieve a prosperous economy.
One of the projects that have been completed within this plan is the Sakaka solar energy project.
Among the Kingdom's Vision Program was the National Industrial Development and Logistics Program, or what is known as "Nedlab", to get to know it more broadly in the following lines..
What are the objectives of the Kingdom’s Vision 2030 program:
Each program has a plan through which we achieve certain goals, but the number of the Kingdom’s goals for the year 2030 are very many. We will mention some of them, namely:
- Increasing the number of amateur club to more than 450 registered clubs, in which cultural activities of various kinds are presented, in addition to recreational programs within a professional framework.
- Increasing the percentage of families who own homes from 50% to 70%.
- Increasing the capacity to receive pilgrims from 8 million to 30 million.
- Classification of nearly three cities from Saudi Arabia as the top 100 cities around the world.
- Increasing the percentage of household spending in the cultural and entertainment aspect within the Kingdom to 6%, after it was only 3%.
- Increasing the percentage of sports practitioners to 40%.
What is the National Industrial Development and Logistics Program?
This program aims to transform Saudi Arabia into a leading industrial power and a global logistics platform. Its objectives have been set on the strengths of the Kingdom of Saudi Arabia, as it is characterized by its huge investment capacity and providing unique opportunities for local and even international investors, by developing a number of sectors that constitute new economic support for the Kingdom and launching Major projects.
The Kingdom is a highly distinguished global logistical gateway that enables it to easily reach consumers, due to the fact that it is one of the Arab countries with a strategic geographic location, in the middle of the world and linking the three continents: Asia, Europe and Africa, which gives it great competitive importance and makes it close to markets.
What is the purpose of building a strategy for this program?
The program relies on four sectors, namely: industry, mining, energy and logistics. The involvement of these sectors contributes to development and growth until raising production to be a basic pillar of competitive value, by adopting key components: increasing the contribution to the private sector, updating political trends in a flexible manner Within the global variables, the development and promotion of new competitive principles.
What are the objectives of the National Industrial Development and Logistics Program?
As we talked about previously, the program aims to transform the Kingdom into an industrial power and a global logistics platform. Here we note the presence of direct and indirect goals, let's get acquainted with the direct ones:
- Create new special areas and rehabilitate the former economic cities.
- Increasing the proportion of local content in the oil and non-oil sectors.
- Develop industries related to oil and gas.
- Increasing the competitiveness of the energy sector.
- Raising the contribution of renewable energy sources in the energy mix.
- Maximizing the values obtained from the mining sector in addition to benefiting from them.
- Improving local as well as 'regional and international' connectivity for trade and transport networks.
Indirect goals:
- Reducing pollution from its various sources.
- Attracting foreign investors.
- Protecting natural areas.
- Improving the ranking of educational institutions.
- Increasing the capacity of financial institutions to support the growth of the private sector.
- Supporting major national companies in order to strengthen them globally.
- Supporting companies to carry out their social responsibility.
Here's more...
Talking about the Kingdom of Saudi Arabia’s endeavor to develop its economy and raise its global ranking remains one of the topics that will not end in just one article, so if you want more information, do not forget to visit our blog and see all the projects of the Kingdom’s vision for 2030 through:
Read more: Saudi Vision 2030: Dumat Al-Jandal Wind Power Plant
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