Saudi Arabia has transformed over the past decade as the government has pursued the Vision 2030 reform program launched by Crown Prince Mohammed bin Salman Al Saud in 2016. The kingdom is racing ahead on many metrics, as any visitor can attest, but efforts to ramp up foreign direct investment (FDI) inflows to fund ‘gigaprojects’ and boost the private sector are struggling to gain traction.
The recently-released Vision 2030 Annual Report for 2024 benchmarks progress in multiple metrics, with Crown Prince Mohammed noting “we have not only met key targets – we have surpassed many.” Certainly, the reform agenda is surging ahead, but the struggles to ramp up FDI are problematic. (CONTINUED - 813 WORDS)
