Vision 2030: Saudi Arabia's Blueprint for Development
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This article discusses the significance of Vision 2030, an ambitious policy framework mandated by Crown Prince Mohammad bin Salman in Saudi Arabia. It explores the impact of Vision 2030 on various sectors such as localization of industries, economic development, tourism, education, and women empowerment.
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ECONOMICS ENGLISH ESSAY
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VISION 20301 Sincere efforts have been made by Saudi Arabia towards the diversification in the areas of cultural, economic and social spheres. An ambitious policy framework namely the Vision 2030 has been mandated by the Crown Prince Mohammad bin Salman in 2016 to facilitate the development in various spheres. The work will shed light on the importance of the said blue print on Saudi Arabia. It must be significantly noted that the 10 programs have been identified by the Saudi Council of Economic Affairs and Development in terms of the strategic importance. These programs are on the lines of housing development, serving pilgrims, improvement of lifestyle, building strategic partnerships, development of the financial sectors, privatization of the industries, strengthening the national identity and others (Al Arabiya, 2017). The first key area that would be impacted by the said vision is the localization of the industries such as the defence industry, industrial equipment, communications and information technology and others. This will not only lead to the creation of job opportunities but also enable the country to create its own integrated framework of industries leading to self-sufficiency (Saudi Vision, 2019). The second key impact can be seen in the form of economic development by getting past the dependency on the oil and petroleum industry, by the creation of new revenue streams (Townsend, 2018). The next major influence is aimed to be achieved in the local tourism industry which is regarded as a priority for the said vision. The change policies such as issuing of the electronic visas to the non-religious tourists for Mecca would be a key development for the local tourism to thrive more (Export.gov, 2018). One of the vital plans of the tourism policies is dedicated towards air transport services, up gradation of services of guest house and transportation mainly for the guests of theHaj and Umrah pilgrims. The guest programs are designed to make the travel to the country hassle free and to receive around 30 million Umrah pilgrims by 2030. In addition to the above, the next major sector to be renovated by the policies of the vision is the education sector. It must be noted that the government has already allocated around SR200 billion towards the public education in the year 2017 (Pennington, 2017). Among the other developments, one significant development is towards the strengthening the women community. The step is significant due to the history of the publically restricted role of women.
VISION 20302 Thus, from the discussions carried on above, it is quite evident that a number of steps have already been started to be taken to develop the country in varied areas. Thus, it can be concluded that the Vision 2030 is an all-inclusive framework for Saudi Arabian economy. References Al Arabiya. (2017).A detailed look at Saudi Arabia’s 10 programs to achieve Vision 2030. Retrieved from: http://english.alarabiya.net/en/business/economy/2017/05/01/A- detailed-look-at-Saudi-Arabia-s-10-programs-to-achieve-Vision-2030.html Export.gov. (2018).Saudi Arabia - Travel, Tourism, and Entertainment.Retrieved from: https://www.export.gov/article?id=Saudi-Arabia-Travel-Tourism-and-Entertainment Pennigton, R. (2017).Saudi plans major overhaul to poorly performing education system.Retrieved from: https://www.thenational.ae/uae/saudi-plans- major-overhaul-to-poorly-performing-education-system-1.683557 Saudi Vision 2030 (2019).Vision 2030. Retrieved from: https://vision2030.gov.sa/en/node/6 Townsend, S. (2019).IMF commends Saudi Arabia on 'good progress' on implementing Vision 2030.Retrieved from: https://www.thenational.ae/business/economy/imf- commends-saudi-arabia-on-good-progress-on-implementing-vision-2030-1.733232