Saudi Press

Saudi Arabia and the world
Monday, Apr 15, 2024

Thanks to Vision 2030, Saudi Arabia made remarkable strides in 2022

Thanks to Vision 2030, Saudi Arabia made remarkable strides in 2022

Saudi Arabia’s Vision 2030 represents the largest ambitious national plan for transformation in terms of social and economic reforms.
This is based on the Kingdom’s ancient history, authentic culture, strategic location, economic strength, ambitious people, and enormous potential to achieve social and economic transformation that the world sees and is affected by.

The year 2022 witnessed unprecedented achievements for Saudi Arabia at all levels. The Kingdom achieved record high growth in gross domestic product (GDP), made great strides in building a healthy lifestyle, in addition to enhancing the quality of life, providing the best educational opportunities and health services, apart from increasing the ratio of women in the labor market.

The Vision’s initiatives also enabled the expansion of renewable energy projects, strengthened the Kingdom’s pioneering role in addressing global climate challenges, and empowered research, development and innovation with investments in the sector at an accelerated pace.

Saudi Vision 2030 enabled the transformation of a dream into a reality. The Kingdom is witnessing historic transformation, significant economic growth, and greater connectivity with the world, while promoting sustainable future full of opportunities for all.

The Vision represents a journey toward a future full of opportunities for the Kingdom’s ambitious and creative youth. The year 2023 also represents as the year in which the journey of transformation reached its middle path.

Since the launch of the Kingdom’s Vision in 2016, Saudi Arabia has witnessed an unprecedented historical transformation and remarkable growth that supports the goal of the Vision, which lies in building a prosperous and promising future, through achieving economic growth and improving the quality of life.

The Kingdom’s transformation journey started — passing through three stations. The first station focused on changing the mental image, enhancing efficiency, and laying the foundations with the empowerment of the government, as it had a major role in policies and implementation. The Kingdom reaped many of the fruits of that station.

The Kingdom is now at the second stop. It can maximize the impact of the Vision, and move to the third phase, which will focus on continuity and achieving sustainable results.

Through the Vision, the Kingdom brought about more than 70 reforms for the private sector to ensure citizens benefit from a more open and prosperous economic future. The Vision 2030 is an engine for reform by embedding sustainability at its core. The Kingdom is keen to inculcate sustainable practices since the beginning of its journey. The Vision also established economic enablers to accelerate growth and stimulate promising sectors.

The remarkable achievements that have been made over the past seven years were a stimulus for the Vision to provide more opportunities for citizens in the future.

Notable achievements

• Rapid improvements that support women’s participation which doubled their number in the Saudi workforce since the launch of the Vision in 2016.

• Saudi Aabia was recorded as the fastest growing economy among the G20 countries in 2022.

• The number of small and medium enterprises (SMEs) has doubled since 2016.

• Saudi Arabia’s unemployment rate is at its lowest level since 2016.

• The e-visa for international tourists has been launched.

• Non-oil government revenues have increased more than two times since 2016.

• The World Bank recognized Saudi Arabia as the best reformer in the field of women’s empowerment.

• The home ownership rate increased by more than 13 percent, and at present more than 60 percent of Saudis own their homes.

• An ambitious target has been set to reach zero carbon emissions by 2060.

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