Vision 2030

Saudi Arabia is making notable progress with its Vision 2030 initiative, surpassing many goals ahead of schedule. Vision 2030, launched in 2016, aims to diversify the economy beyond oil and enhance public services. Its phased approach has helped drive results, with most initiatives either completed or on track. By the end of 2024, 85% of the 1,502 projects under Vision...

Saudi Arabia’s Vision 2030 has delivered significant progress, with 93% of its key performance indicators either fully or nearly achieved since its inception. This ambitious initiative focuses on diversifying the economy, empowering citizens, and creating an attractive environment for investors through a series of strategic programs and national policies. The latest assessment highlights that out of 374 main performance indicators,...

The Mohammed bin Salman Foundation, known as Misk, has partnered with London Business School to enhance leadership and executive education. This strategic agreement aligns with Saudi Vision 2030 and aims to foster leadership across various sectors. Foundation CEO Dr. Badr Al-Badr and London Business School Dean Professor Sergei Guriev signed the agreement, witnessed by Vice Chairman Majid Al-Qasabi and Education...

The University of New Haven has signed an agreement with Saudi Arabia's Ministry of Education, Ministry of Investment, and the Royal Commission for Riyadh City to establish a campus in Riyadh by Fall 2026. This initiative aligns with Saudi Arabia's Vision 2030, aiming to serve 13,000 students and support the Kingdom's transformative goals. This collaboration was announced at the Human...

Saudi Arabia has launched a 5 percent Real Estate Transaction Tax (RETT) starting April 10, aimed at supporting economic diversification. This new tax is applicable to all property transactions, including residential, commercial, and industrial, regardless of their development status or ownership type. It also covers undocumented transactions. Property transfers must be registered via the RETT platform on the Zakat, Tax...

Ronn Inc., a company specializing in hydrogen mobility and clean energy, has initiated the first phase of a commercial agreement in Saudi Arabia. This move is part of a larger plan to build long-term partnerships in both the United States and the Kingdom. The current agreement involves collaboration with an international intermediary to facilitate early-stage relationships with key infrastructure partners...

Accesso Technology Group PLC has been selected as the guest experience technology provider for the Qiddiya entertainment project in Saudi Arabia. Located southwest of Riyadh, Qiddiya covers over 300 square kilometers and is a key part of Saudi Vision 2030. It will feature attractions such as the Six Flags Qiddiya theme park and the Aquarabia water park. Accesso will implement...

Accesso Technology Group has been selected to provide guest experience technology for Saudi Arabia's Qiddiya giga-project, part of the Saudi Vision 2030 initiative aimed at economic diversification. Accesso's Horizon solution will be deployed across attractions like Six Flags Qiddiya and Aquarabia, enhancing the visitor experience and positioning Accesso as a key player in the Middle Eastern entertainment industry. About Accesso...

Saudi Arabia has announced new water and sewerage projects worth $533 million in the Riyadh region to enhance public utility services. These initiatives are part of the Vision 2030 strategy to improve infrastructure and quality of life as the population grows. According to the National Water Co., 30 projects are underway, covering nearly 2,000 km in Riyadh and its surrounding...

Technological innovation is rapidly transforming the global digital economy, and Saudi Arabia is actively participating in this shift. The Kingdom's Vision 2030 is a strategic framework guiding its economic transformation and technological growth. Notably, Saudi Arabia ranks fourth in the 2024 United Nations E-Government Development Index, and it leads the Arab world in the Global AI Index, reflecting its swift...

Saudi Arabia's domestic tourism is booming during Eid Al-Fitr, significantly boosting the hospitality industry. The trend towards local travel is reshaping the market as residents seek to explore the country's tourism offerings. According to a recent report, domestic flight bookings increased by 45% in 2024, driven by expanded tourism options and affordable flights from low-cost carriers. This surge highlights a...

Saudi Arabia's Circular Carbon Economy Framework: A Global Model for Emissions Reduction Saudi Arabia's Circular Carbon Economy (CCE) Framework, introduced during its G20 presidency, is setting a global standard for reducing emissions, investing in renewable energy, and enhancing carbon capture. Endorsed by G20 leaders in 2020, the framework promotes a sustainable approach to climate change while ensuring clean energy access....

Saudi Arabia is confronting water scarcity by investing in advanced solutions and infrastructure as part of its Vision 2030 and National Water Strategy. The Kingdom is focusing on expanding desalination, promoting wastewater reuse, and embracing smart water management to secure long-term water supplies. Efforts include major infrastructure upgrades, digital water monitoring, and public awareness campaigns that highlight the importance of...

Saudi Arabia is actively working to reduce its reliance on oil by advancing its Vision 2030 strategy, which aims to expand the economy, create jobs, and attract more foreign investment. However, a leading ratings agency predicts that the country will face a larger budget deficit this year due to declining oil prices.

At the World Economic Forum 2025, Saudi Arabia emphasized the necessity for global cooperation to address the world's fragmentation. Prince Faisal bin Farhan, Foreign Affairs Minister, underscored the importance of prioritizing collective interests to find solutions that benefit everyone. Economy and Planning Minister Faisal F. Alibrahim advocated for economic diversification, suggesting the private sector's dynamic growth as a strategy to...

Saudi Arabia is ambitiously targeting 70 million tourists annually by 2030, striving to become one of the world's top seven tourist destinations, according to Tourism Minister Ahmed Al Khateeb. During a panel at the World Economic Forum in Davos, Al Khateeb highlighted that the country attracted nearly 30 million international tourists last year, marking a record achievement. The minister credited...

Saudi Arabia's strategic vision for future growth was a focal point at the World Economic Forum in Davos. Economy and Planning Minister Faisal F. Alibrahim emphasized the Kingdom's commitment to its long-term development strategy, Saudi Vision 2030, during a session on growth. He described it as an example of confident and optimistic leadership balanced with careful management. In another session,...

The World Economic Forum (WEF) Annual Meeting 2025 in Davos showcased Saudi Arabia's strategic growth plans, as outlined by the Minister of Economy and Planning, Faisal F. Alibrahim. He emphasized the Kingdom's ambitious Saudi Vision 2030, describing it as an embodiment of bold leadership and strategic foresight. In a session on regional diplomacy, Foreign Affairs Minister Prince Faisal bin Farhan...

Saudi Arabia is investing over $500 billion in sustainable and innovative tourism projects, as highlighted by Tourism Minister Ahmed Al-Khateeb at the World Economic Forum in Davos. These efforts are part of the Kingdom's Vision 2030, aiming to enhance economic growth and cultural exchange through eco-friendly tourism development. Al-Khateeb emphasized the importance of sustainability in projects like AlUla and The...

Saudi Arabia's Economic Diversification Surpasses Expectations at World Economic Forum Saudi Arabia's finance minister, Mohammed Al-Jadaan, addressed the World Economic Forum, highlighting the Kingdom's economic resilience despite the IMF's recent GDP growth downgrade. Al-Jadaan emphasized the importance of focusing on non-oil GDP growth as part of the Vision 2030 initiative. The IMF adjusted its 2025 GDP growth forecast for Saudi...

Saudi Arabia's Public Investment Fund (PIF) is actively pursuing strategies to finance its Vision 2030 initiative. This includes issuing US dollar-denominated bonds, acquiring a substantial share in Saudi Reinsurance Company, and divesting from Thiqah Business Services Company.

Saudi Arabia is emerging as a leader in the global gaming and esports arena, driven by strategic investments and a focus on integrating gaming into society. This sector is a key part of the Kingdom's Vision 2030, with projections estimating a $13.3 billion market by 2030. The National Gaming and Esports Strategy (NGES) introduced in 2022 aims to generate 39,000...

Saudi Economy Minister Discusses Global Growth and Vision 2030 At the World Economic Forum in Davos, Saudi Arabia's Minister of Economy and Planning, Faisal Alibrahim, addressed the Kingdom's approach to evolving US economic policies and their potential impact on global trade. In response to questions about US President Donald Trump's focus on maximizing oil and gas production, Alibrahim emphasized Saudi...

Saudi Arabia's Economic Strength and Vision 2030 Faisal Al-Ibrahim, the Minister of Economy and Planning, emphasized Saudi Arabia's success in leveraging its human and natural resources. He credited Vision 2030 for transforming the Kingdom into a global investment powerhouse. Vision 2030 has laid a robust foundation for growth, invigorating both new and traditional sectors. This initiative attracts capital focused on...

Saudi Arabia is poised to boost its GDP by SAR 50 billion over the next decade by expanding its esports industry. A report by PwC and the Saudi Esports Federation highlights the nation's potential to become a global esports hub. Esports has surged in popularity and revenue, especially during the pandemic. PwC forecasts the global market will grow from $2.06...

Saudi Arabia's General Authority of Civil Aviation plans to unveil over $100 billion in investment opportunities at the World Economic Forum in Davos. This initiative is part of the Kingdom's strategy to become a global aviation hub. The Saudi House Pavilion will highlight key projects in aviation, including airports, airlines, and logistics. The plan includes $50 billion for airport expansion...

Saudi Arabia is actively engaging in the World Economic Forum to promote global efforts in enhancing the digital economy, innovation, and artificial intelligence. This was highlighted by a senior official emphasizing the Kingdom's strategic role as the world shifts from digitalization to AI. Communications and Information Technology Minister Abdullah Al-Swaha stated that Saudi Arabia's involvement aligns with its National Strategy...

SEALSQ Corp, a prominent entity in semiconductors and post-quantum technology, is expanding into Saudi Arabia. In partnership with WISeKey International Holding and the Juffali Group, SEALSQ aims to bolster the Kingdom's Vision 2030 by enhancing digital transformation and cybersecurity. The collaboration, which includes the WISeKey Arabia joint venture established in 2019, will introduce advanced technologies to support Saudi Arabia's ambitious...

Starting January 14, Indian workers applying for a Saudi Arabian work visa must complete a pre-verification of their professional and academic qualifications. This change affects a significant group, as Indians represent the second-largest expatriate community in Saudi Arabia, numbering over 2.4 million. Across the Gulf region, more than two million Indians are employed in countries like Saudi Arabia, the UAE,...

Newlab, a company from New York City specializing in launching and funding startups in industrial sectors, is expanding to Riyadh, Saudi Arabia. The new hub will initially target the mining industry, with plans to later focus on energy, logistics, and advanced manufacturing. Newlab's larger hubs typically require substantial funding commitments from governments and large corporations. The Riyadh hub underscores Saudi...