Saudi Press

Saudi Arabia and the world
Monday, Sep 16, 2024

Saudi Arabia's Vision 2030: Housing Success, Women's Achievements, and New Regulations Propel Kingdom to Economic Growth

IMF praises Saudi Arabia's Housing Program for increasing home ownership to 64%, while new yacht regulations boost coastal tourism. Saudi women win global innovation awards; authorities crack down on unauthorized military uniform shops.
The International Monetary Fund has lauded Saudi Arabia's Housing Program, specifically noting its success in increasing home ownership rates to 64% and beneficiary satisfaction over 90%. This initiative, part of Saudi Vision 2030, has significantly boosted economic and social stability, making the kingdom the fastest-growing G20 economy in 2022 and attracting investments in the housing sector.

Adding to this wave of development, new regulations for yachting have been issued by the Saudi Red Sea Authority. Effective September 5, 2024, these rules emphasize environmental protection while fostering coastal tourism, supported by the "More Than a Sea" awareness campaign.

In another notable achievement, two Saudi women garnered accolades at Indonesia Inventors Day 2024 in Bali. Researcher Rafeef Ayedh Alshahrani won gold for her "AirEco" device aiding rescue teams, and Dr. Najia Al-Zanbagi earned a silver for her innovative book on medical parasitology.

Meanwhile, Saudi authorities are cracking down on unauthorized military uniform shops. In Riyadh, eight shops were shut down, with over 600 military items seized, while the Eastern Province municipality conducted extensive inspections to control violations in food, commercial, and building sectors.

In a display of their commitment to empowering women, KSrelief provided vocational training and equipment to 24 women in Yemen's Aden governorate. This initiative has reached 42,960 women across several governorates, offering both practical skills and social services, and in Sudan, KSrelief continued its support by distributing food baskets to those affected by torrential rains.

With a focus on education, the King Salman Global Academy for Arabic Language recently celebrated the graduation of 132 students from 34 countries. These students completed an intensive program that combined Arabic language instruction with cultural experiences, aiming to enhance both linguistic proficiency and cross-cultural understanding.
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