Five Year Anniversary of Vision 2030

Five years after His Royal Highness the Crown Prince Mohammed Bin Salman launched Vision 2030, we have made significant achievements in advancing our national ambitions. We have opened our economy to foreign investment, built a tourism industry and implemented social and cultural reforms that would have been unimaginable only a decade ago. The changes are impressive.  

The five-year anniversary this month provides us with another opportunity to consider what we want our future to look like, particularly as Saudi Arabia and the world re-emerge and re-build after the unprecedented disruptions caused by the Covid-19 pandemic. This is the time for the Kingdom to look toward the next decade, to reflect on our next journey, and set a course of action that further advances Vision 2030.

Across all my portfolio organizations, I am proud of the progress that we have made and am committed to driving forward our national transformation objectives. This is the time to double down on our nation’s commitment to progress. 

Vision 2030 provides a roadmap for national transformation

The three core pillars of Vision 2030 include being at the center of the Arab and Islamic worlds, an investment powerhouse – on that attracts leading multinationals and international talent – and a hub connecting three continents – Africa, Asia, and Europe. These represent the unique broader strengths and capabilities of Saudi Arabia.

Based on these three pillars, Vision 2030 aims to transform Saudi Arabia by creating a thriving economy, a vibrant society and an ambitious nation. It will do this through the implementation of 13 Vision Realization Programs (VRPs) and 96 strategic objectives. The VRPs include a financial sector development program, a fiscal balance program and national industries development and logistics program.

Saudi Arabia recognized more than five years ago that it could no longer rely solely on an economy based on energy, that change was required if we were to thrive and prosper as a nation moving forward. To achieve this, we understood what we needed to diversify our economy and focus on developing the Kingdom’s human capital.

Vision 2030 will strengthen the private sector through strategic investments, develop sectors that reflect our competitive advantage and capitalize on our strategic location. To further achieve these goals, we are investing in the future to create jobs and generate prosperity for the Saudis of today and tomorrow. We realize that our people are our greatest asset. 

Key industries will help us achieve our ambitions

Tourism is another driver for Vision 2030. I am proud to point out the actions we’ve taken to develop the sector since I was appointed as the Kingdom’s first-ever Minister of Tourism.

We launched the tourism e-visa in September 2019 with great results. In the first six months, Saudi Arabia issued over 450,000 e-visas to travelers from 49 countries. The World Travel & Tourism Council (WTTC) reported that following the launch, Saudi Arabia was the fastest growing tourist destination in the world that year.

This demand demonstrates the global interest in Saudi Arabia and reflects the potential we have as an up-and-coming international tourist destination. With the largest sand desert in the world in the Empty Quarter, the Old City of Jeddah, the UNESCO World Heritage site in AlUla and the diverse marine life of the Red Sea, we offer both history and nature for visitors to see.  

We want the tourism sector to be an engine of economic growth and job creation. We plan to add 1 million jobs by 2030.

This won’t happen without investing in human capital development and we are establishing training and qualification programs across the tourism and hospitality sectors. The ‘Your Future Tourism’ campaign, which was launched in March 2021, will create 100,000 new jobs for citizens by the end of this year.

To achieve this, we are taking steps to attract international investment. The Ministry of Tourism is implementing regulatory reforms to improve the ease of doing business. This year we announced regulatory changes to the licensing and classification systems of the accommodation sector, which will make it easier for properties to obtain licenses with the implementation of digital solutions.

We are shaping new ways of living

Saudi Arabia is known for its visionary giga-projects. NEOM, Amaala, the Red Sea Development, Qiddiya and Diriyah Gate will provide a blueprint for sustainability and livability that can be replicated worldwide. The Line, a smart city in NEOM, will have no cars, no streets and no carbon emissions – it’s ambitious but necessary as we look for ways to re-invent how we live in the future.

While these developments will serve to attract foreign tourists, they will also transform the leisure and entertainment offering for Saudi citizens and residents. The Quality-of-Life VRP will ultimately create a vibrant society by making Saudi Arabia one of the best places to live in the world. We want our cities to be integrative places to live, work and visit. This will help us retain and attract the world’s top talent.

The Quality-of-Life Program will provide Saudis with will new opportunities to enjoy cultural, entertainment and sporting activities. We’ve reintroduced music concerts and reopened cinemas. In 2018, Saudi Arabia hosted the Diriyah ePrix, the first E Formula One race to be held in the Middle East. Diriyah Gate in Riyadh has held heavyweight boxing and international tennis tournaments and attracted a total of 1.2 million event visitors so far.

Saudi Arabia’s capacity and capabilities will be strengthened through Vision 2030

Vision 2030 aims to strengthen our capacities domestically by investing in underdeveloped industries. We are doing this in our military industry as we seek to develop high-value, high tech-manufacturing that is needed to strengthen our country’s industrial base. We want to achieve self-sufficiency in this area. 

Through the Saudi Arabian Military Industries (SAMI), we will localize 50% of Saudi Arabia’s military procurement by 2030, compared to 2% when we were established, and aspire to be among the top 25 military industries companies worldwide. The development of SAMI’s supply chain, mainly through joint ventures, across its five business divisions and investment in strategic areas will see the industry contribute SAR14 billion to GDP by 2030 and create 40,000 new jobs for citizens and residents.

The joint venture signed with Lockheed-Martin this year was a key achievement in meeting these ambitions, demonstrating the Kingdom’s commitment to developing an integrated system for defense industries through global partnerships. 

As Saudi Arabia continues to grow, we value sharing our resources, knowledge and expertise with other countries on their journey to develop economically and socially. Through the Saudi Fund for Development, we have signed 714 loans with 83 countries since its inception in 1975 at a value of SAR61 billion to drive economic and social development and progress around the world. 

We are committed to connecting with the world and shaping global solutions

Finally, Saudi Arabia was honored to host the G20 in 2020, an opportunity that elevated our position on the international stage and allowed us to contribute in a meaningful way to shaping solutions to global problems. While our experience was marked by the pandemic, Saudi Arabia hosted the world’s leading economies to coordinate a response to Covid-19’s immediate effects and to set a path for a global economic recovery.

In November 2020, we held a virtual meeting of the G20 Leaders in NEOM, which resulted in the Riyadh Declaration. Hosting the G20 was yet another milestone in connecting Saudi Arabia with the rest of the world, and one that I am proud to have been part of.

As I look ahead to the next decade, I am honored to serve my country on our journey of national transformation, under the unwavering guidance of His Royal Highness the Crown Prince and Vision 2030. By harnessing the power of our people, capitalizing on our unique strengths, and maintaining the momentum we have applied so far, I am hopeful that the Saudi Arabia of tomorrow is vibrant, thriving and ambitious. 

I had the pleasure of sharing my thoughts on Saudi Arabia's socioeconomic transformation, milestones & exciting journey ahead with Asharq Al Aswat. Read more here: