Saudi Vision 2030: Analyzing the Pillars and Mega Projects

1 Saudi Vision 2030: The Story Behind the Transformation

Saudi Vision 2030, launched in 2016, envisions significant economic and social changes by 2030. Crown Prince Mohammed bin Salman leads the initiative, aiming to reduce oil dependence, reshape the economy, enhance citizens’ lives, and elevate global standing.

The vision prioritizes economic diversity for long-term prosperity, with a focus on developing industries like mining, tourism, technology, and logistics. Crown Prince Mohammed bin Salman aims to create growth pillars and invest in human capital, fostering job opportunities for women and youth.

The genesis of Vision 2030 traces back to the 2015 global oil price decline, resulting in a substantial budget deficit. This crisis spurred the need for a diversified and sustainable future. Efforts to gain leadership consensus and public support paved the way for Vision 2030’s launch in 2016.

More than a past plan, Vision 2030 represents a long-term commitment to transform institutions and systems, promising improved well-being, progress, and prosperity for citizens over the coming decades. As Vision 2030 unfolds, Saudi Arabia anticipates significant benefits, propelling the Kingdom toward a thriving knowledge-based future.

2 Pillars of Saudi Vision 2030

The journey to success begins with a vision, and impactful visions stand on strong pillars. The Saudi Vision 2030 outlines three key pillars—establishing the country as the heart of the Arab and Islamic worlds, ascending as a global investment powerhouse, and repositioning the nation’s location into a central hub connecting Afro-Eurasia.

1. Positioning as the Heart of the Arab and Islamic Worlds

The first pillar of the vision emphasizes the role of being the heart of the Arab and Islamic worlds. The kingdom cherishes its status as the Land of the Two Holy Mosques, considering it a gift more precious than oil, and recognizes the sacredness bestowed upon the lands by Allah. It holds a revered place as the direction of the Kaaba (Qibla), where over a billion Muslims turn to prayer.

2. Becoming a Global Investment Powerhouse

At the core of the vision is the determination to evolve into a global investment powerhouse. The nation commits to harnessing its robust investment capabilities to stimulate the economy and diversify revenue sources. This pillar emphasizes dedication to achieving economic growth and financial resilience on a global scale.

3. Transforming the Strategic Location into a Global Hub

The third pillar focuses on transforming the unique strategic location into a global hub, seamlessly connecting three continents – Asia, Europe, and Africa. Positioned between key global waterways, the Kingdom of Saudi Arabia stands as an epicentre of trade, serving as the gateway to the world. This strategic geographic advantage reinforces the commitment to playing a pivotal role in international commerce and fostering global connectivity.

3 Themes of Saudi Vision 2030

A VIBRANT SOCIETY 

The importance of a vibrant society for economic prosperity is emphasized by Vision 2030. With a focus on modern Islam, national pride, and Saudi heritage, efforts are made to provide world-class entertainment, sustainable living, and efficient health systems. A commitment exists among Saudis to promote cultural abundance and fulfil duties towards pilgrims. The prioritization of physical, psychological, and social well-being is at the core of the vision, aiming to establish a society where a high quality of life, a healthy lifestyle, and an attractive living environment are enjoyed through robust social development.

A THRIVING ECONOMY  

Saudi Arabia is actively cultivating a thriving economy, emphasizing growth and job creation for all Saudis. By capitalizing on its strategic location and potential, it attracts top talent and global investments. Prioritizing the youth, Saudi Arabia fosters a culture valuing determination, offering diverse job opportunities, and empowering skills. Open for business, Saudi Arabia enhances our economic landscape, restructures its cities, and deregulates the energy market for competitiveness. Investing in the future, we diversify the economy, privatize services, and strategically position ourselves as a global trade hub, forming partnerships for sustained growth.

AN AMBITIOUS NATION

Saudi Arabia envisions an ambitious nation that entails fostering effective governance, transparency, and accountability. The goal is to encourage citizens, businesses, and non-profit organizations to proactively identify and pursue opportunities for collective progress. This approach empowers active participation in shaping the nation’s future. The government, committed to transparency and efficiency, adapts to evolving challenges. Whether in business, non-profits or as concerned citizens, each individual contributes to Saudi Arabia’s development. The non-profit sector, integral to addressing community needs, plays a vital role in promoting social progress. 

4 Vision Realization Programs

The Vision Realization Programs (VRPs) play a crucial role in turning Vision 2030 into a reality. They actively work to bring the vision to life, with each VRP having a specific roadmap containing approved delivery plans. These plans are meticulously crafted to achieve well-defined objectives and key performance indicators within a five-year timeframe. As the needs of Saudi Arabia evolve and Vision 2030 adjusts to meet these changes, the VRPs flexibly adapt and align to ensure the successful accomplishment of Vision 2030.

1. Financial Sector Development Program

The Financial Sector Development Program was initiated in 2018 It actively shapes Saudi Arabia’s financial future. Focused on bolstering banking, insurance, stock, and debt markets, the program collaborates closely with the Saudi Central Bank (SAMA) and the Capital Market Authority (CMA). It enhances banking service accessibility, invests in technology, and updates regulations to international standards. Key achievements include launching an innovative FinTech strategy, licensing three digital banks, and establishing a Financial Academy. Tadawul, the Saudi Capital Market, now ranks among the world’s top 10, featuring prominently on global indices such as MSCI and S&P Dow Jones. This proactive program ensures a dynamic, innovative financial system, solidifying Saudi Arabia’s position as a premier FinTech destination.

2. Fiscal Sustainability Program

The Fiscal Sustainability Program, formerly known as the Fiscal Balance Program was launched in 2016. It has been pivotal in reshaping Saudi Arabia’s financial landscape. This initiative has successfully reduced the Kingdom’s deficit-to-GDP ratio from 15.8% in 2015 to 2.3% in 2021, implementing crucial structural reforms for budget enhancement. The program has introduced key entities such as the Government Expenditure & Projects Efficiency Authority, National Debt Management Center, and Non-Oil Revenue Development Center, fostering fiscal discipline. Through enhanced transparency, the program builds citizen trust, ensuring a comprehensive and informed approach to the annual budget. This proactive strategy, coupled with increased non-oil revenues, propels Saudi Arabia towards sustained financial strength, marking a significant turning point for the Kingdom.

3. Health Sector Transformation Program

The Health Sector Transformation Program in Saudi Arabia is actively reshaping the healthcare system, prioritizing innovation, financial sustainability, and disease prevention. The program, launched in 2022, leverages technology, such as the SEHA Virtual Hospital, connecting over 150 hospitals globally. It ensures swift response to health crises, exemplified during the COVID-19 pandemic, and focuses on preventive measures for public health. Collaborating with the private sector is crucial to achieve national health goals, guaranteeing widespread access to top-notch healthcare and fostering a healthy, productive society.

4. Housing Program

The Housing Program was initiated in 2018. It has transformed Saudi Arabia’s real estate landscape, turning the dream of homeownership into an immediate reality. Prior to Vision 2030, families faced a staggering 15-year wait for housing support, but today, that support is instant. Recognizing families as the cornerstone of a vibrant society, the Kingdom has streamlined processes, digitized documentation, and increased homeownership from 47% to over 60% by the end of 2022. With a commitment to achieving 70% homeownership by 2030, the Housing Program, alongside initiatives like Sakani and Ejar, is creating welcoming neighbourhoods and fostering economic growth.

5. Human Capability Development Program

The Human Capability Development Program was launched in 2021. It empowers Saudi citizens for global competitiveness. This comprehensive strategy, spanning early childhood to lifelong learning, encourages collaboration between the government, private sector, and non-profits. Aligned with labour market needs, the program prioritizes innovation, skill development, and values instillation. It aims to elevate the prominence of the Arabic language, instill national pride, and steer the Kingdom towards a robust economy with a highly capable workforce. Key achievements include increased early childhood enrollment, international academic accolades, expanded scholarship opportunities, and Saudi Arabia’s leading position in digital skills, providing daily growth opportunities for success.

6. National Industrial Development and Logistics Program

The National Industrial Development and Logistics Program was launched in 2019. It has positioned Saudi Arabia as a global leader in energy, mining, logistics, and industry.  Diversifying the economy and creating quality jobs, the program is committed to a green future with significant investments in wind and solar energy. Saudi Arabia, with its $1.3 trillion in minerals, is now a leading mining nation due to enhanced regulations. Leveraging its strategic location, the program positions the Kingdom as a highly efficient global logistics hub, while the newly launched Strategy for Industry reinforces premier industrial infrastructure, securing supply chains and boosting exports.

7. National Transformation Program

The National Transformation Program was launched in 2016. It propels Saudi Arabia’s remarkable changes under Vision 2030. It actively achieves strategic goals, empowering the private sector and fostering economic partnerships. Spearheading the Kingdom’s digital transformation, it enables starting an online business in three minutes and attending court sessions from home. Initiatives for inclusivity result in a surge in employment for Saudi women and record-high rates for disabled individuals. The Program’s focus on non-profit development, like the National Volunteer Portal, sees a 30-fold increase in volunteerism, aligning with Saudi society’s core values of giving and compassion.

8. Pilgrim Experience Program

The Pilgrim Experience Program was launched in 2019. It has welcomed millions of pilgrims in Saudi Arabia, collaborating with the government and the private sector. The program digitized services introduced e-visas and facilitated the efficient Haramain high-speed train. Committed to logistical excellence and cultural immersion, it ensures a secure pilgrimage. As global recovery progresses, the program aims to surpass pre-pandemic numbers, aspiring to host 15 million international Umrah pilgrims annually by 2025. Private sector support plays a vital role in achieving this goal.

9. Privatization Program

The Privatization Program was launched in 2018. It aims to strengthen the private sector by providing access to government assets and improving service delivery. It focuses on enhancing service quality, achieving cost efficiency, promoting economic diversity and growth, and increasing the Kingdom’s competitiveness. Vision 2030 emphasizes the vital role of the private sector in advancing Saudi Arabia’s economy. Important achievements include implementing the Saudi Privatization Law and establishing the National Center for Privatization and Public-Private Partnership, both crucial for streamlining privatization processes and maximizing the socio-economic impact of private sector involvement.

10. Public Investment Fund Program

The Public Investment Fund program was initiated in 2017. It is dedicated to maximizing the impact of the Public Investment Fund, the driving force behind the diversification of Saudi Arabia’s economy. Leading the charge in building economic transformation, the program fosters positive, sustainable change in Saudi Arabia, making it the investment partner of choice for global opportunities. As of July 2022, the PIF program has achieved $700 billion in assets under management, creating 500,000 direct and indirect jobs and establishing 79 companies, including the Saudi Coffee Company. Its bold investments pave the way for a prosperous future, with five giga-projects redefining the Kingdom’s future and pioneering sustainable living globally.

11. Quality of Life Program

The Quality of Life Program was launched in 2018. It actively transforms Saudi Arabia into a global hub for sports, entertainment, and tourism. It empowers arts, promotes sports, and fosters healthier lifestyles, creating new economic sectors, diversifying activities, and enhancing cities aesthetically. This initiative generates local employment opportunities, making the Kingdom an increasingly attractive destination for living, working, and playing. With a focus on active engagement, the Program has welcomed over 94 million global visits since the introduction of tourist visas in 2019, resulting in numerous opportunities in tourism, hospitality, and entertainment. It also addresses future workforce needs, training millions by 2030 to support the private sector.

5 Projects Under Saudi Vision 2030

Project: Dynamic Society

Saudi Arabia is currently undergoing significant social and cultural reforms under Vision 2030. This initiative prioritizes women’s empowerment and youth engagement, focusing on enhancing access to education and job opportunities for inclusivity. The surge in volunteering reflects heightened societal compassion. With its vibrant and diverse population, the Kingdom offers abundant opportunities, including world-class entertainment and improved digitized public services. Vision 2030 aims to propel Saudi Arabia towards diversity, and opportunity, and empower all to achieve their full potential.

Crown Prince Mohammed bin Salman bin Abdulaziz emphasized that the true wealth of the nation lies in the ambition of its people and the potential of the younger generation, who are the pride of the nation and the architects of its future.

1. Launch of HUMAN CAPABILITY DEVELOPMENT PROGRAM (HCDP)

The Human Capability Development Program (HCDP), spearheaded by His Royal Highness Prince Mohammed bin Salman, is a visionary initiative comprising 89 initiatives and 16 objectives. Designed to empower Saudi citizens locally and globally, the program focuses on three pillars: strengthening the educational foundation, preparing for the future job market, and providing lifelong learning opportunities. 

2. General Entertainment Authority

The General Entertainment Authority (GEA) in Saudi Arabia, established in 2016, spearheads the growth of the Kingdom’s entertainment sector. Regulating and diversifying options, GEA ensures exciting experiences for all. Beyond leisure, it aims to build a self-sustaining entertainment industry, fostering economic growth by creating jobs, supporting local businesses, and attracting investments.

3. National Volunteer Portal

The National Volunteer Portal, launched in 2020, provides diverse volunteer opportunities in Saudi Arabia, facilitating engagement with non-profits and community events. It streamlines licensing for private volunteer entities, ensuring high standards and volunteer/community safety. The portal also offers access to informative reports and verification services. Beyond fostering altruism, it enables individuals to acquire skills, connect with others, and experience a sense of achievement and purpose. 

4. Mohammed Bin Salman Nonprofit City

In 2021, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz launched the world’s first nonprofit city. The city aligns with Misk’s goals of supporting innovation, entrepreneurship, and nurturing future leaders. It will host the Misk Foundation, schools, academies, and both local and international institutions, along with entrepreneurs. The city is designed as a smart 15-minute city, exemplifying modern and integrated urban transport, featuring a smart and sustainable cooling system for a comfortable outdoor environment. Additionally, the city provides a platform to experience new products and technologies, offering interactive retail environments for exceptional user experiences.

5. Events Investment Fund

Saudi Arabia is striving for leadership in culture, tourism, entertainment, and sports through the 2023 launch of the Events Investment Fund (EIF). With a goal to establish 30 venues by 2030, the EIF emphasizes global partnerships, adheres to high ESG standards, and aims to cultivate a dynamic national events calendar. Prioritizing public-private cooperation, the fund seeks to enhance the events industry, develop sustainable infrastructure, and create employment opportunities for citizens.

6. Ejar

Ejar was introduced in 2018. It transforms the property leasing experience by offering a secure and Ministry of Justice-certified electronic leasing platform. Streamlining the rental process through government agency integration, Ejar eliminates the need for physical visits and checks. Prioritizing user safety, the platform provides access to reports and verification services, ensuring trust among all parties involved. Additionally, Ejar offers training programs for real estate brokers through the General Real Estate Authority, guaranteeing the utilization of qualified professionals for citizens’ housing needs.

7. Etmam

Launched in 2016, the Saudi Real Estate Development Center (Etmam) actively fosters the growth of Saudi Arabia’s real estate sector. By facilitating partnerships with government agencies, Etmam expedites housing projects through its digital platform, serving as a liaison between developers and authorities. With a focus on enhancing the sector’s performance and GDP contribution, Etmam hosts regular meetings to streamline services and eliminate obstacles, making home ownership more accessible for millions of citizens.

8. Najiz

Launched in 2018, Najiz streamlines the Ministry of Justice’s services into a user-friendly platform, enhancing customer experience with efficient digital services. It eliminates the need for physical visits, reducing paperwork and promoting sustainability. Najiz provides support for first-time users, simplifying the legal process and aiding in financing. This center in Saudi Arabia ensures convenient access to legal services, improving customer satisfaction and the overall legal experience.

9. Qiddiya

Qiddiya, launched in 2018 by King Salman bin Abdulaziz, is a global entertainment, sports, and culture hub under construction since 2019. Set to feature international sports arenas, entertainment venues, academies, racetracks, and theme parks, including a Six Flags park. With 67% of Saudis under 35, Qiddiya aims to provide the youthful population with new entertainment opportunities, create jobs, and retain tourism spending within Saudi Arabia.

10. Riyadh Art

Launched in 2019 by King Salman bin Abdulaziz Al Saud, Riyadh Art is transforming the capital into a global, vibrant hub. The city’s neighbourhoods, parks, squares, and tourist spots now feature diverse creative projects, showcasing the Kingdom’s artistic talent. This initiative enhances civic pride, stimulates the creative economy, and attracts new investments, contributing to a more beautiful and joyful Riyadh for residents and visitors alike.

11. ROSHN

Launched in 2020, ROSHN is committed to achieving a 70% homeownership goal by 2030. As a major project under the Public Investment Fund, it serves as a leading real estate facilitator in Saudi Arabia, fostering growth and prosperity. Through partnerships and job creation, ROSHN contributes to the nation’s development. Their innovative communities blend modern living with Saudi city heritage, offering diverse, budget-friendly homes that redefine excellence for residents.

12. Sakani

Launched in 2018, Sakani revolutionized Saudi Arabia’s housing market by offering affordable options and financing support for citizens struggling to access housing. Collaborating with private developers, it builds communities in high-demand areas. Sakani provides financing choices like rent-to-own and mortgages, guiding first-time buyers through the process. Its mission not only addresses citizens’ housing needs but also contributes to community development, exemplifying the Housing Program’s impactful role in realizing home ownership aspirations.

13. Saudi Downtown Company

Launched in 2022 under the leadership of HRH Prince Mohammed bin Salman, Saudi Downtown Company, a subsidiary of the Public Investment Fund, is set to revitalize 12 cities in Saudi Arabia. Focused on economic diversification, it aims to elevate city centers, fostering social and economic development. The initiative creates vibrant, modern downtowns, unlocking potential, and catalyzing growth by providing opportunities for local businesses, entrepreneurs, and citizens.

14. Saudi Genome Program

The Saudi Genome Program (SGP), initiated in 2018 by HRH Prince Mohammed bin Salman, is pioneering a groundbreaking database to capture Saudi society’s genetic blueprint. SGP 2.0, launched in 2022, aims to make Saudi Arabia a global genomics leader, focusing on reducing genetic diseases through cutting-edge technologies. The program envisions world-class collaborations, regional leadership, and genomics integration to enhance healthcare for all citizens, revolutionizing the future of healthcare.

15. Sports Boulevard

The Sports Boulevard, a key initiative of Saudi Vision 2030, transforms Riyadh into a global model for healthy living. Launched in 2019 by King Salman bin Abdulaziz, this mega project spans over 135 km, linking Wadi Hanifa to Wadi Al-Sulai. Focused on diverse sports like walking, cycling, and horse riding, it integrates cultural and environmental elements, creating a modern urban destination and advancing the city’s Quality-of-Life objectives.

16. NEW MURABBA 

The New Murabba project, initiated in 2023 by Crown Prince Mohammed bin Salman, will transform Riyadh with a 19 sq km district. Spanning 25 million sq meters, it includes residences, hotels, retail, and leisure facilities. Developed by the New Murabba Development Company, the district prioritizes convenience and is a 20-minute drive from the airport. At its core is the Mukaab, an iconic landmark offering retail, cultural, and recreational experiences with cutting-edge technology in a unique Najdi architectural style.

Project: Tourism & Heritage

Saudi Arabia actively invites global visitors through initiatives such as the 2019 e-visa launch since the inception of Vision 2030. The Kingdom preserves its rich heritage and natural beauty. Events like the Red Sea International Film Festival and the Saudi Arabian Grand Prix showcase warm hospitality. Positioned centrally in the Arab and Islamic world, Saudi Arabia enhances facilities for pilgrims, providing an unforgettable spiritual experience. It beckons the world to explore its breathtaking beauty and rich heritage.

Crown Prince Mohammed bin Salman bin Abdulaziz, as the driving force behind Vision 2030, has catalyzed an economic and cultural transformation in Saudi Arabia. By fostering the digital economy and cultivating new sectors such as tourism, gaming, entertainment, and culture, he is actively connecting the Saudi people to the world and bridging global connections with Saudi Arabia.

1. AlUla

AlUla is a living museum of sandstone outcrops and historic sites that captivates visitors with 200,000 years of largely unexplored history. It is home to Saudi Arabia’s first UNESCO World Heritage site, transforming it into a unique experience. The Royal Commission for AlUla ensures a sustainable and responsible approach, preserving the area’s natural and historic character while opening its rich heritage to the world through initiatives in archaeology, tourism, culture, education, and the arts.

2. AMAALA

AMAALA is a pioneering wellness destination situated along the Red Sea coast in Saudi Arabia, covering 4,000 km². Its Phase one, Triple Bay, will introduce 1,300 rooms in eight hotels by 2024. Upon completion in 2027, AMAALA will feature 3,000 hotel rooms, 943 villas, high-end retail, a yacht club, and prioritize sustainability with a zero-carbon footprint, relying on 100% renewable energy. Located in the Prince Mohammed bin Salman Natural Reserve, only 5% of the area will be developed to preserve the diverse ecosystems and local culture.

3. Desert Rock

Desert Rock was announced by Red Sea Global in 2021 as a tribute to sustainable tourism, blending modern luxury with environmental preservation. The resort, with 50 villas and 10 hotel rooms integrated into the rock, honors Oppenheim Architectural philosophy. Stewarded by the local community, Desert Rock prioritizes LEED certification, minimizing energy consumption, preserving history, and implementing water retention systems with excavated materials used for infrastructure.

4. Diriyah

Diriyah is the birthplace of Saudi Arabia and home to the UNESCO World Heritage Site At-Turaif. It is undergoing a $62.2bn transformation as a giga-project by the Public Investment Fund. The development seamlessly blends traditional Najdi architecture with modern urbanism, offering a unique opportunity for living, working, shopping, dining, and celebrating the Kingdom’s rich heritage. Diriyah prioritizes sustainability with initiatives in water conservation, energy efficiency, wellness, and climate resilience, creating a 100% walkable city for a healthy population.

5. Mohammed bin Salman Project for Developing Historic Mosques

Launched in 2018 by HRH Prince Mohammed bin Salman, The Mohammed bin Salman Project for the Development of Historical Mosques restores and preserves 130 historical mosques in Saudi Arabia. In the initial phase, a team of experts carefully revived 30 mosques, setting a blueprint for authentic architectural designs in future constructions. The Kingdom aims to enhance pilgrims’ spiritual journeys and cultural experiences by enriching its Islamic heritage.

6. Jeddah Central Project

The Jeddah Central Project, initiated in 2021 by Crown Prince Mohammed bin Salman with a budget exceeding $19.9 billion, aims to elevate Jeddah into a global destination. The development, spanning 5.7 million square meters, prioritizes preserving Jeddah’s heritage while incorporating modernity through landmarks like the Opera House, Museum, Sports Stadium, and Oceanarium. The first phase, comprising 45% of the project, is set to finish by the end of 2027, emphasizing major attractions like the Opera House, Stadium, Oceanarium, and a public beach. Following phases, accounting for 36%, will complete by 2030, focusing on establishing a dynamic economic, cultural, and entertainment hub.

7. Makkah Route Initiative

The Makkah Route Initiative, launched in 2018 and activated in 2019, transforms pilgrims’ journeys. Pilgrims from Pakistan, Malaysia, Indonesia, Morocco, Bangladesh, Türkiye, and the Ivory Coast benefit from streamlined entry procedures at their home country’s airports. Swift transport upon arrival directly to Makkah and Madinah accommodations, supported by Saudi government agencies like the Ministry of Interior and Health, ensures an efficient and comfortable pilgrimage experience.

8. Nusuk

Nusuk is the official platform for Umrah to simplify the pilgrimage. It was launched in 2022 by the Ministry of Hajj and Umrah. In collaboration with the Saudi Tourism Authority and Visit Saudi Arabia, Nusuk streamlines the entire Umrah process. Pilgrims from worldwide can plan and book their journey seamlessly, including eVisas, accommodations, and transportation, all in multiple languages. Experience a hassle-free pilgrimage to Makkah and Madinah with Nusuk.

9. Sindalah

Launched in 2022 by Prince Mohammed bin Salman, Sindalah is a luxurious island in NEOM. It is a blend of nature’s beauty with sustainable design and advanced technology. It caters to island and yacht enthusiasts, serving as a premier gateway to the Red Sea while preserving diverse marine ecosystems. A key attraction in NEOM alongside THE LINE, Oxagon, and Trojena, Sindalah captivates with its captivating architecture and allure for tourists.

10. Soudah Development

Soudah is a luxurious mountain destination 3,000 meters above sea level in Saudi Arabia’s Aseer region. It was launched in 2021 by Crown Prince Mohammed bin Salman. Soudah Development is committed to preserve the natural terrain and cultural heritage and it aims for year-round domestic and global appeal. Offering immersive natural experiences and cultural richness, it attracts local and international partners for investment. Prioritizing environmental integrity, the project fosters ecotourism, benefiting the local community economically.

11. The Red Sea

The Red Sea, nestled on Saudi Arabia’s west coast, is a pioneering luxury destination spanning 28,000 sq km. Boasting over 90 pristine islands, stunning beaches, and a vibrant coral reef, it opens its doors in 2023. By 2030, this cultural gem will feature 8,000 rooms across 50 hotels and 1,000 residences. From top-tier amenities to natural wonders, The Red Sea promises a unique experience for all.

12. THE RIG.

The Rig, announced in 2021 by the Public Investment Fund, redefines Arabian Gulf tourism.  This adventure haven in the Arabian Gulf features three hotels, world-class restaurants, helipads, and adrenaline-pumping activities like extreme sports, bungee jumping, and base jumping. Beyond its thrill factor, THE RIG. symbolizes sustainable economic growth, adhering to global environmental standards while revitalizing Saudi Arabia’s tourism and entertainment sector.

13. The Royal Institute of Traditional Arts

The Royal Institute of Traditional Arts, established in 2020 under the leadership of HRH Prince Mohammed bin Salman, actively preserves and promotes Saudi Arabia’s traditional arts. Focused on calligraphy, embroidery, and more, the Institute educates and raises awareness locally and internationally. It champions cultural heritage by showcasing artistic history and encouraging citizens to master traditional arts, ensuring the preservation of Saudi Arabia’s rich cultural legacy.

14. Trojena

In 2022, Crown Prince Mohammed bin Salman introduced Trojena, a global mountain destination for year-round skiing, adventure sports, and unmatched tourism. The sustainable haven seamlessly blends nature, architecture, and technology, offering superior experiences. Trojena anticipates hosting exclusive events like the 2029 Asian Winter Games, solidifying its status as the go-to destination for premier outdoor activities and festivals.

15. BOUTIQUE  GROUP 

Boutique Group, wholly owned by the Public Investment Fund (PIF), transforms historic palaces into ultra-luxury hotels, seamlessly blending Saudi heritage with modern elegance. The company, dedicated to promoting Saudi culture, offers unique experiences for global and local tourists, reinforcing the Kingdom’s status as a top cultural tourism destination. Each heritage destination showcases local architectural charm, featuring art galleries, lush gardens, and exquisite dining options, providing guests with a rich cultural immersion.

16. RUA ALMADINAH

Rua Al Madinah is actively developing a modern Islamic and cultural destination, enhancing hospitality and retail services for pilgrims and visitors in line with Vision 2030. The objective is to increase capacity for hosting Hajj and Umrah pilgrims to 30 million by 2030, enriching the overall experience of visiting Medina.

17. CORAL BLOOM 

Crown Prince Mohammed bin Salman, announced the Coral Bloom project, aiming to make Shura Island a top global tourist destination.  The initiative, focusing on sustainability, biodiversity, and luxury, transforms the island into a haven with preserved natural habitats, a new lake, and pristine beaches. World-class resorts and hotels will grace the landscape, enhancing the island’s allure for wildlife enthusiasts and luxury seekers alike.

18. MASJID QUBA  

Prince Mohammed bin Salman has unveiled the largest expansion in Masjid Quba’s history, dating back to its establishment in the first year of the Hijra. This initiative, aligned with Vision 2030’s Pilgrim Experience and Quality of Life programs, involves enlarging the mosque, restoring 57 historical sites, and improving infrastructure, including the road network. The project aims to boost local economies, attract visitors, and create jobs, contributing to the Kingdom’s economic diversification.

19. JEDDAH HISTORIC DISTRICT 

Jeddah Historic District is overseen by the Ministry of Culture. It actively transforms its city centre, Al Balad, into a vibrant cultural and arts hub. The site boasts over 600 historic buildings exemplifying local adaptation. Recognized as a UNESCO World Heritage Site, it stands as an international heritage destination. The program, emphasizing diverse markets, strives to showcase the rich heritage. Ongoing regeneration efforts play a pivotal role in this cultural revitalization.

Project: Business & Economy

Vision 2030 propels Saudi Arabia towards a vibrant economy by cultivating diverse industries, spurring investment, and empowering entrepreneurs. The younger generation enjoys abundant opportunities, witnessing the Kingdom’s transformative journey through social reforms, entertainment, and progressive projects. The government fosters an inclusive economic environment, attracting global investments and nurturing local talent through forward-thinking regulations. Vision 2030’s triumph relies on the ambitious spirit of entrepreneurial citizens, shaping a prosperous future with innovative funding, supportive policies, and talent development initiatives.

Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Prime Minister, and chairman of the Council of Economics and Development Affairs, underscores the national imperative of fostering a dynamic and prosperous private sector. Today marks the initiation of a more potent era of collaboration and partnership between the public and private sectors.

1. National Investment Strategy

Crown Prince Mohammed bin Salman took a significant step in Saudi Arabia’s economic transformation by unveiling the National Investment Strategy, a key element of Vision 2030. The Crown Prince aims to increase the private sector’s GDP contribution to 65%, raise FDI contribution to 5.7%, and position the nation among the top ten in the Global Competitiveness Index by 2030. With strong backing from entities like the Public Investment Fund, the strategy focuses on comprehensive investment plans across various sectors, targeting a substantial injection of $3.19 trillion into the national economy by 2030.

2. FintechSaudi

FintechSaudi, initiated in 2018 by the Saudi Central Bank and the Capital Market Authority, is working to make Saudi Arabia a prominent fintech hub. The organization is actively building infrastructure, supporting entrepreneurs, and developing local talent. Through workshops and training, FintechSaudi educates SMEs, students, investors, companies, and banks about the fintech industry. It aims to create a robust and responsible fintech ecosystem. By collaborating with local and international partners, FintechSaudi encourages innovation, fostering a diverse and inclusive environment for sustained industry growth.

3. Made in Saudi

The Made in Saudi Program, started in 2021 by the National Industrial Development and Logistics Program and the Saudi Export Development Authority, helps local businesses. It aims to improve visibility, connect with consumers, and showcase Saudi products globally. The program encourages the use of the SAUDI MADE logo to project a positive image. Ultimately, it wants to increase non-oil exports to 50% of non-oil GDP by 2030, attracting global investments and strengthening the domestic market.

4. NEOM

NEOM, launched in 2017 by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister, is transforming the Red Sea coast into a futuristic city. Led by the Public Investment Fund, the project prioritizes people and nature, aiming to create a model for sustainable living powered entirely by renewable energy. NEOM is home to distinct areas like THE LINE, Oxagon, Trojena, and Sindalah, contributing to the development of this ambitious and innovative city in northwest Saudi Arabia.

5. THE LINE

THE LINE was launched in 2021 by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz. It is a transforming city that prioritizes humans and nature. This innovative urban living concept, aligned with the Kingdom’s sustainability goals, conserves 95% of its land as a nature reserve. THE LINE introduces a revolutionary model for urban sustainability, entirely powered by renewable energy. It promises an unparalleled living experience that harmonizes with its natural surroundings

6. Oxagon

Oxagon, launched in 2021 by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz as part of NEOM, is a revolutionary floating port city on the Red Sea coast. It features an integrated port, advanced manufacturing facilities, and a logistics center. Positioned strategically, Oxagon serves as a crucial hub at the crossroads of three continents. The city harmoniously brings together people, nature, and technology while offering unparalleled connectivity to global markets, with 13% of the world’s trade passing through the Red Sea.

7. Empowering The Private Sector

Vision 2030 actively empowers the private sector to enhance and diversify Saudi Arabia’s economy. Recognizing the importance of partnerships, the nation fosters a thriving economy by diversifying, supporting local production, and attracting both local and foreign investments. Economic reforms aim to enhance services and facilitate a supportive business environment, positioning the private sector as the key driver of the Kingdom’s economic growth.

8. Monsha’at

Monsha’at, established in 2016, actively regulates, supports, and develops Saudi Arabia’s small and medium enterprise (SME) sector. The authority empowers SME owners through various services such as growth programs, mentorship, networking opportunities, and training programs. Monsha’at is dedicated to enhancing the entrepreneurial environment, promoting competitiveness, and aligning with Saudi Vision 2030 by encouraging freelance work to diversify income. The authority supports entrepreneurs at every step of their journey in the SME sector.

9. Shareek

Shareek, launched in 2021 by Prince Mohammed bin Salman, aims to support large Saudi companies and unlock SAR 5 Trillion in private sector investments by 2030. Focused on major enterprises, the first wave of Shareek projects spans key sectors and is projected to create 64,000 jobs by 2040. With a total investment of 192 billion riyals, major companies contribute 120 billion riyals, expecting a GDP impact of 466 billion riyals by 2040. Shareek’s positive influence extends beyond large companies, fostering ongoing prosperity for Saudi Arabia’s entire economy.

Project: Environment & Nature

Saudi Arabia’s Vision 2030 emphasizes sustainability, aiming for a Net Zero future by 2060. The Kingdom is actively leading the way in addressing energy and climate challenges through innovative solutions like the Circular Carbon Economy (CCE) and a diverse energy mix, targeting 50% renewable energy by 2030. Conservation efforts and sustainable agriculture protect the environment and biodiversity, with wildlife sanctuaries and eco-friendly tourism initiatives. Vision 2030 transforms cities, enhancing the quality of life through sustainable urban greening, creating green spaces, and fostering a connection with nature. 

Prince Mohammed bin Salman emphasized that taking climate action will boost competitiveness, foster innovation, and generate millions of high-quality jobs. Responding to the global call, he commits to delivering a cleaner, greener, and more inclusive future.

1. AlKhafji Desalination Plant

The AlKhafji Desalination Plant, inaugurated by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz in 2018, stands as the world’s largest solar-powered water desalination project. Crafted under the expertise of the King Abdulaziz City for Science and Technology, this innovative facility not only converts saltwater into potable drinking water but also harnesses clean energy for the Kingdom. Boasting a daily capacity of 90,000 cubic meters, the plant relies on solar panels, playing a pivotal role in Saudi Arabia’s commitment to curbing carbon emissions and embracing a sustainable energy future.

2. Green Riyadh

Green Riyadh is a groundbreaking project transforming the Saudi capital into a lush oasis. It was launched in 2019 by King Salman Bin Abdulaziz. It aims to elevate Riyadh among the world’s top 100 livable cities by 2030, enhancing green spaces, air quality, and residents’ well-being. The initiative involves planting 7.5 million trees across neighbourhoods, parks, mosques, schools, and streets. By fostering green public spaces, improving air quality, and reducing power consumption, Green Riyadh is fostering a healthier, happier, and more sustainable urban environment with anticipated returns by 2030.

3. King Salman Energy Park

King Salman Energy Park (SPARK) was inaugurated by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz in 2018. It is a state-of-the-art industrial hub in Eastern Saudi Arabia. Designed to connect the world to opportunities in the Saudi energy sector. SPARK is committed to clean and sustainable energy production. It proudly holds the distinction of being the first industrial city globally to attain a silver Leadership in Energy and Environmental Design (LEED) certification. SPARK offers comprehensive solutions to support businesses, contributing to the Kingdom’s revenue diversification and the promotion of clean energy technologies.

4. King Salman Park

King Salman Park was inaugurated in 2019 by King Salman bin Abdulaziz. It is the world’s largest urban park in Riyadh. It provides diverse activities for all ages, including arts, culture, sports, and entertainment. The extensive green spaces make it perfect for hosting various events. The park features an Islamic-style garden, vertical gardens, a maze garden, and a bird and butterfly sanctuary, emphasizing a commitment to sustainability and environmental protection.

5. Low Power Research Reactor

The Low Power Research Reactor was launched in 2018 under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz. It is a groundbreaking achievement as Saudi Arabia’s inaugural reactor of its kind. Spearheaded by the King Abdulaziz City for Science and Technology in collaboration with the King Abdullah City for Atomic and Renewable Energy, along with contributions from international experts, the project is geared towards advancing the nuclear reactor industry. Engineered with stringent safety standards, the reactor operates at low pressure, utilizing natural circulation for cooling, thereby serving as an optimal resource for nuclear research and training.

6. Middle East Green Initiative

The Middle East Green Initiative (MGI) was launched in 2021 by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz. It is a regional alliance focusing on collaborative efforts to address climate change. It is tailored to the specific climate challenges in the Middle East and North Africa. MGI is led by Saudi Arabia and sets ambitious targets for emissions reduction and afforestation. The MGI Governance framework, finalized in October 2022, establishes a dedicated secretariat in Riyadh, playing a key role in facilitating regional climate action and attracting investments.

7. Rabigh Desalination Plant

The Rabigh Desalination Plant was initiated in 2017 with technical support from the King Abdulaziz City for Science and Technology and the Saline Water Conversion Corporation. It employs cutting-edge technologies to revolutionize seawater desalination in Saudi Arabia. This advanced facility, at the forefront of sustainable water solutions, utilizes industrial-scale crystalline absorption cooling to enhance efficiency and minimize environmental impact with zero salt return. Operating at 3.5 MW of thermal energy and 1.5 MW of electrical energy, it produces 5,000 m³ of desalinated water and 700 kg of salt daily.

8. Sakaka Solar Power Plant

The Sakaka Solar Power Plant in Al Jouf, inaugurated in 2021, stands as a beacon of sustainable energy. It marks a significant milestone as the first of its kind under the Custodian of the Two Holy Mosques Renewable Energy Initiative, led by the Ministry of Energy. This pioneering plant utilizes advanced photovoltaic technology, spanning 6 km² with over 1.2 million solar panels. Notably, it has established industry records with an exceptionally low levelized cost of energy, priced at just $0.023 per kWh, making it an economically appealing choice for Saudi Arabia.

9. Saudi Green Initiative

Saudi Green Initiative (SGI) was launched in 2021 by Prince Mohammed bin Salman bin Abdulaziz. It is a national effort addressing climate change, environmental protection, and improved quality of life. This whole-of-society initiative unites all sustainability efforts to accelerate Saudi Arabia’s transition to a green economy. SGI, supporting the goal of net zero emissions by 2060, focuses on emissions reduction, afforestation, and land and sea protection. With over $186 billion invested in 77 initiatives, SGI promotes collaboration between the government and private sector, turning commitments into tangible action and supporting global goals.

10. Shamsi

The Shamsi digital portal is transforming the way families across the Kingdom adopt solar energy. This user-friendly platform guides homeowners and facility managers through the financial and technical aspects of installing solar panels. Equipped with a cutting-edge electronic calculator, users can easily assess the benefits of going solar. By selecting solar energy, users contribute to a greener future. The portal, with its team of qualified consultants and contractors, ensures efficient and high-standard installations, playing a pivotal role in Saudi Arabia’s sustainable transition.

11. Solar PV Cell Plant

The Solar PV Cell & Module Manufacturing Plant was established in 2010 by the King Abdulaziz City for Science and Technology (KACST). The Plant actively applies new solar energy technology. This facility is dedicated to developing commercial-grade equipment capable of withstanding severe heat and sandstorms. It produces solar panels and cells, bringing the latest solar energy technologies to Saudi Arabia. The PV Reliability Laboratory, accredited internationally, examines the efficiency and reliability of solar panels, contributing to the Kingdom’s goal of increasing reliance on clean energy and reducing carbon emissions.

12. Dumat Al Jandal

Dumat Al Jandal Wind Farm was inaugurated in 2019 as part of the National Renewable Energy Program. It exemplifies the Kingdom’s commitment to ambitious renewable energy goals. The $500 million project with 99 turbines and a 400 MW capacity, supplies electricity to approximately 70,000 homes. Beyond reducing reliance on oil and carbon emissions, it economically benefits the Al Jouf region by generating jobs and attracting foreign investment. Recognized for its low electricity generation rate, the Wind Farm earned the 2019 Renewable Deal of the Year award and plays a pivotal role in the Kingdom’s target of achieving a 50% contribution of renewable energy by 2030.

13. CEER 

Ceer, the Kingdom’s premier electric vehicle brand, was unveiled in 2022 through the joint efforts of His Royal Highness Crown Prince Mohammad bin Salman and the Public Investment Fund. This initiative is poised to revolutionize the automotive industry and foster a dynamic ecosystem by offering innovative electric vehicles. In collaboration with Hon Hai Precision Industry Co. (Foxconn), Ceer will design, manufacture, and introduce high-quality electric vehicles in Saudi Arabia and the MENA region. These vehicles, adhering to global safety standards, will feature cutting-edge infotainment, connectivity, and autonomous driving technologies, underscoring Ceer’s commitment to driving progress and contributing to Saudi Arabia’s economic prosperity.

6 Critical Response to Saudi Vision 2030

The project garnered both positive responses and criticism from the people. While many praised its initiatives, acknowledging the positive impact on various sectors, there were also notable criticisms that warrant attention.

Below are some positive responses and criticisms received by Saudi Vision 2030.

Robert Mogielnicki, a resident scholar at the Arab Gulf States Institute in Washington, asserted that Saudi Vision 2030 boldly and positively departed from the past.

The International Monetary Fund assessment highlighted that the ambitious goals outlined in Saudi Vision 2030 had the potential to generate significant development and economic opportunities.

Tarek Fadlallah, CEO of Nomura Asset Management Middle East, observed that Saudi Vision 2030 pragmatically outlined measures to diversify the kingdom’s economy and develop critical non-oil industries like mining and tourism.

David B. Roberts, a research fellow at King’s College London, applauded Saudi Vision 2030 for rightly focusing on empowering Saudi youth and women, identifying them as under-leveraged resources that could power future growth.

Kristian Coates Ulrichsen, a research fellow at Rice University’s Baker Institute, acknowledged that the Saudi Vision 2030 document introduced a reform agenda with the potential to transform the kingdom’s political and social landscape.

Al Jazeera criticized the plan, asserting that it lacked implementation details and failed to address the political reforms needed to achieve its ambitious goals.

The Economist warned that the crackdown on dissent risked undermining Vision 2030 by slowing private sector growth and deterring foreign investment.

The Washington Post argued that the plan did not go far enough to curb the outsized role of the state in the economy and liberalize repressive social restrictions.

The Financial Times highlighted the uncertainty surrounding how Saudi Arabia would balance social reforms with a deeply conservative Wahhabi religious establishment opposed to change.

Human Rights Watch noted that, despite lifting some restrictions on Saudi women, Vision 2030 still did not outline an end to the male guardianship system, a point criticized by human rights groups.

The multifaceted feedback underscores the complexity of the project and the diverse perspectives within the public discourse. As the project unfolds, addressing both commendations and criticisms will be crucial for its long-term success and resonance with the broader population.

7 Conclusion

The Vision 2030 plan has brought about substantial transformations in Saudi Arabia, marking significant progress in economic, social, and cultural realms. With the finish line in sight, the nation is on track to reduce its reliance on petroleum, successfully fostering new industries in areas such as renewables, clean tech, mining, tourism, and finance. These emerging sectors not only mature but also create diverse investment and employment opportunities.

Critical milestones include tough policy decisions, structural overhauls, and enhanced governmental capabilities, establishing Saudi Arabia as an attractive hub for enterprise, talent, and tourism. Vision 2030 prioritizes empowering women and youth, unlocking their potential as driving forces for nationwide progress.

As the monumental plan and its sweeping goals conclude, the realized social and economic transformation ensures continued prosperity beyond 2030. With foundations in openness, innovation, sustainability, and knowledge deeply rooted nationwide, Vision 2030’s transformative spirit sets the stage for continuous advancement in the decades ahead.

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