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For a country that has come to be characterized by its conservatism the most striking aspect of Saudi’s Vision 2030 plan is the speed of its targeted implementation.
Saudi has talked for many years about diversifying its economy, but to date, all that talk has led to little action. The Vision 2030 seeks to change that – and soon.
Unveiled by Saudi’s Deputy Crown Prince Muhammad bin Salman on 25 April, it aims to end the kingdom’s dependence on oil by 2020 and to boost non-oil revenue by an additional SR600bn ($160bn) by 2020 and by SR1 trillion ($266bn) by 2030 from SR163bn in 2015 (MEES, 29 April). (CONTINUED - 2455 WORDS)