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Invest in Saudi

Key Features and Regional competitiveness January, 2023

Overview

Saudi Vision 2030, launched by King Salman bin Abdulaziz Al Saud and guided by Crown Prince Muhammad bin Salman, is a transformative initiative aimed at diversifying Saudi Arabia's economy and fostering sustainable growth. The plan encompasses a broad array of strategies and projects designed to enhance the Kingdom's economic resilience and global competitiveness.

Key Insights from the Report

  1. Leadership and Guidance
    • Initiated by King Salman bin Abdulaziz Al Saud.
    • Ongoing guidance by Crown Prince Muhammad bin Salman. 
  2. Economic Diversification
    • Focus on reducing dependency on oil revenue.
    • Implementation of ambitious plans and strategies for economic growth.
    • Promotion of investments across all regions of the Kingdom.
  3. Strategic Advantages
    • Leveraging a strong economy, abundant energy resources, and strategic geographical location.
    • Utilizing a young and dynamic population.
    • Development of integrated infrastructure.
  4. Resilient Economy
    • Rapid recovery from the COVID-19 pandemic.
    • Projected to achieve the highest global economic growth rate of 7.6% in 2022 according to the IMF.
  5. Investment Initiatives
    • Significant investment opportunities in competitive sectors.
    • Over USD 3.2 trillion in investment expected through the National Investment Strategy.
    • Comprehensive support from the Ministry of Investment and other government entities.
  6. Technological and Regulatory Advancements
    • Development of advanced ICT infrastructure and eGovernment solutions.
    • Promotion of public-private partnerships.
    • Implementation of new regulations and strategic initiatives, including the National Transport and Logistics Strategy and the National Industrial Strategy.
  7. Regional Development
    • Each of Saudi Arabia's 13 regions offers unique opportunities based on their distinct climate, talent pool, and economic characteristics.
    • Highlighting key sectors with promising growth potential in each region.

Saudi Vision 2030 is a clear roadmap for positioning Saudi Arabia as a leading global economy, driving forward innovation, investment, and sustainable development.

Report By Invest in Saudi (Key Features and Regional competitiveness January, 2023)

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