“MY FIRST OBJECTIVE IS FOR OUR COUNTRY TO BE A PIONEERING AND SUCCESSFUL GLOBAL MODEL OF EXCELLENCE, ON ALL FRONTS, AND I WILL WORK WITH YOU TO ACHIEVE THAT. “
KING SALMAN BIN ABDULAZIZ AL SAUD Custodian of the Two Holy Mosques
“IT IS MY PLEASURE TO PRESENT SAUDI ARABIA’S VISION FOR THE FUTURE. IT IS AN AMBITIOUS YET ACHIEVABLE BLUEPRINT, WHICH EXPRESSES OUR LONG-TERM GOALS AND EXPECTATIONS AND REFLECTS OUR COUNTRY’S STRENGTHS AND CAPABILITIES”.
MOHAMMAD BIN SALMAN BIN ABDULAZIZ AL-SAUD Chairman of the Council of Economic and Development Affairs
Saudi Arabia is the beating heart of the Arab and Islamic worlds, an investment powerhouse, and the hub connecting three continents.
Saudi Arabia is blessed with rich assets. Its Geography, Culture, Society, Demographics, and Economic Advantages afford Saudi Arabia leadership in the world’s nations.
The Vision for Saudi Arabia’s future stands upon the three pillars representing the Kingdom’s unique competitive advantages.
Saudi Arabia’s status as the heart of the Arab and Islamic worlds will enable us to build on our leading role.
Create a diverse and sustainable economy enabled through Saudi our investment prowess.
Leveraging the Kingdom’s strategic location of connecting the three continents of Africa, Asia, and Europe to build a leading role and become an integral driver of international trade.
Three themes driving the Vision 2030
- A vibrant society.
- A thriving economy.
- An ambitious nation.
A vibrant society is vital to cementing the foundation of economic prosperity. Members of Saudi society live in accordance with the principles of moderation given in Islam.
They are proud of their national identity and ancient cultural heritage. Protected by caring families, they enjoy a good life in a beautiful environment, supported by an empowering social and health care system.
A thriving economy gives opportunities to all by imparting the education system to market needs. A thriving economy creates economic opportunities for entrepreneurs, small enterprises as well as large corporations.
The Kingdom plans to develop investment tools to diversify the economy and create greater job opportunities, drive economic growth by enhancing the quality of services and privatizing some government services, attracting the finest global talent and investments, leveraging the unique strategic location connecting three continents.
As an ambitious nation, efficiency and responsibility is the ‘performance index’ at all levels. The third theme is built on an effective, enabling, accountable, transparent, and high-performing government.
It is providing the environment that enables the citizens, private and non-profit sector to take their take the initiative in seizing opportunities.
These themes are the highlights of a selection of commitments and goals, a reflection of the Kingdom’s ambition.
This vision is a point of reference for future decisions, and all projects in the future will be subject to the contents of Vision 2030.
The Council of Economic and Development Affairs has already prepared the ground and launched executive programs, a portfolio of crucial programs aimed to achieve the set goals commitments.
A Vibrant Society
Saudi Arabia has enormous untapped opportunities in the rich blend of natural resources, but its real wealth is the people and its society.
A society that takes pride in what makes the nation exceptional: its Islamic faith and national unity. Saudi Arabia is the core of the Arab and Islamic worlds, giving it the confidence that God willing will build a future based on the bedrock of Islamic principles.
The Kingdom is resolved to excellence in the performance of its duties towards pilgrims to its fullest and to strengthen the deep-rooted national identity.
Vibrant Society – Strong Roots
- To increase the capacity to welcome Umrah visitors from 8 to 30 million pilgrims every year.
- To increase by more than double the Saudi heritage sites registered with UNESCO.
Vibrant Society – Fulfilling Lives
The fulfillment of happiness of citizens and residents is achieved through promoting physical, psychological, and social well-being.
The Saudi vision 2030 is driven by the idea of creating a society offering a quality life, a healthy lifestyle, and an attractive living environment.
- To have three Saudi cities ranked among the top-ranked 100 cities in the world.
- Increased household spending on cultural and entertainment activities from the current 2.9% to 6%
- An increased ratio of individuals exercising at least once a week from 13% of the population to 40%
Vibrant Society – Strong Foundations
Another of the Goals is to promote and reinvigorate social development, building a vigorous, productive society. Strengthening families, providing education builds children’s fundamental character and establishes empowering health and social care systems.
- Raising the Nations Social position from 26 to 10 in the Social Capital index.
- Increase the average life expectancy from 74 years to 80 years
To make the most of their potential, the skills and competencies of the new generation will be one of the most important and cherished assets of the Kingdom.
A culture that builds and rewards determination provides opportunities for all. It helps citizens acquire the necessary skills to achieve their goals.
To this end, the Kingdom will reinforce the ability of its economy to generate jobs and institute a new paradigm of attracting global talents and qualifications.
Thriving Economy – Rewarding Opportunities
Goals by 2030
- Lower the unemployment rate from 11.6% to 7%
- Increase SME contribution to GDP from 20% to 35%
- Increase the number of women in the workforce from 22% to 30%
Thriving Economy – Investing long-term
Although oil and gas are the pillars of the Saudi economy, a diversified economy is vital for sustainability. Saudia Arabia has begun expanding its investments into different sectors.
Understanding the complicated challenges ahead, the Kingdom has long-term plans to overcome these. During the past 25 years, the Saudi economy has grown by an annual average of more than 4 percent, creating millions of new jobs.
Although already among the 20 largest economies in the world, the ambitions are even more remarkable. The aspirations are an even higher ranking by 2030.
This target is despite the headwinds of the global economic slowdown and the foreseen impact of the structural economic reforms in the wake of the vision 2030.
This chapter of the economic vision will require the investment of all resources to diversify the economy.
Goals by 2030
- Rising from the current 19th position as the largest economy in the world into the top 15
- Increase from 40% to 75% the localization of the oil and gas sector
- Increasing the Public Investment Fund’s assets, from SAR 600 billion to over 7 trillion
A Thriving Economy – Open for Business
Opening and restructuring Saudi Arabia further for business will not only boost productivity; it will smoothen the journey to becoming among the largest economies in the world.
Saudi Arabia will improve the business environment further, restructure economic cities, create special zones and deregulate the energy market, making it more competitive.
Goals by 2030
- Improve from the current 25th position to the top 10 countries on the Global Competitiveness Index
- Increasing the foreign direct investment from 3.8% to 5.7% of GDP, the international level of FDI’s
- Increase the private sector’s contribution to the national GDP from 40% to 65% of GDP
A Thriving Economy – Leveraging Its Unique Position
Saudi Arabia is ideally situated at the crossroads of important international trade routes between Asia, Europe, and Africa.
This strategic geographic position will maximize the benefits of new strategic partnerships to grow the economy and help Saudi companies increase exports.
The proximity of energy sources and distinctive logistical placement will leverage to stimulate a new phase of industrialization, exports, and re-exports.
Goals by 2030
- Raise the Kingdoms global ranking in the Logistics Performance Index from 49 to 25, ensuring regional leadership
- Increase the non-oil exports share in non-oil GDP from 16% to 50%
An Ambitious Nation
The roles, responsibilities, and requirements of governments have grown significantly since the founding of the Kingdom of Saudi Arabia.
Every government needs to evolve and improve as a constant, to stay at pace with rising expectations and new challenges.
This evolution of governance requires implementing transparency and accountability at high standards.
An essential part of Vision 2030 is the commitment to manage finances efficiently and effectively, create agile public organizations, and track both their performance and that of the government overall.
An Ambitious Nation – Governed Effectively
Goals by 2030
- Increase governments non-oil revenue from SAR 163 billion to SAR 1 Trillion
- Rise in the Government Effectiveness Index, from 80 to 20 in ranking
- Improve in ranking on the E-Government Survey Index from current 36th position into the top five nations
An Ambitious Nation – Enabled Responsibly
The nation, Vision 2030 aspires to build will be realized with all citizens’ contributions, a great, collective national effort.
All citizens have tasks to accomplish, working in the private, public, or non-profit sectors. Saudi Arabia will strive continuously to achieve the hopes and aspirations, and responsibilities of our country, society, families, and individual.
Vision 2030 will enable Saudi Arabia as an economic power hub focusing on the betterment of its people and truly come as a proud nation.