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  • Vision 2030: The Lynchpin Of Saudi Arabia’s Unprecedented Economic Transformation

    Although not formally part of Vision 2030, PIF’s globally renowned giga-projects have become closely associated with the programme. Some projects have commenced construction, including the Red Sea global tourism, the Qiddiya entertainment city and the Diriyah Gate heritage development initiatives. But the Kingdom’s most hotly discussed sustainability-based giga-project, Neom, has garnered the most global attention based on its unique design and sheer magnitude, alongside the distinctly light environmental footprint it seeks to cultivate with a new model of sustainable living.

  • Al-Khateeb: Expo 2030 site designs completed under supervision of Crown Prince

    Minister of Tourism Ahmed Al-Khateeb said that the designs for the Expo 2030 site in Riyadh have been completed under the full supervision of Crown Prince and Prime Minister Mohammed bin Salman. Addressing a session titled “Investing in Sustainable Tourism” at the Saudi Green Forum 2023 in Dubai, he said that the Kingdom is fully confident that these designs will meet environmental standards and preserve heritage and history. Regarding the tourism sector, Al-Khateeb confirmed that the Kingdom has begun the process of preparing all tourism-related facilities, whether by increasing hotels or aircraft seat capacity, in addition to establishing a new airport in Riyadh that can accommodate 20 million passengers.

  • Vision 2030 Has Transformed Saudi Arabia’s Legal and Judicial Systems

    Saudi Arabia’s legal reforms aim to provide a legal environment conducive to business while at the same time upholding the centrality of sharia in the kingdom’s judicial and legal systems.

  • Towards Vision 2030: Developing Integrated, Resilient And Sustainable Logistics In Saudi Arabia

    SGP and Mawani signed an agreement to establish an approximately 1 million square metres integrated logistics zone at King Abdulaziz Port Dammam (“KAPD”). The agreement was signed by the President of Mawani His Excellency Mr Omar bin Talal Hariri and the CEO of SGP Mr Edward Tah in the presence of Saudi Arabia Minister for Transport and Logistic Services His Excellency Saleh Al Jasser and Singapore Minister for Manpower and Second Minister for Trade and Industry Dr Tan See Leng in Riyadh, Saudi Arabia on 19 October 2023. The Minister of Energy,

  • Research shows Saudi residents support green ambitions as part of Vision 2030 plans

    The Institute’s research, conducted in conjunction with the polling agency Kantar and covering over 1,000 adults aged 18-54 living in Saudi Arabia, firmly establishes the depth of public support in the Kingdom for the reforms of Vision 2030. Indeed, this polling research shows that a still higher proportion (88%) of Saudis support one of the broader aims of Vision 2030: to diversify the Kingdom’s economy and transition away from oil revenues.

  • Saudi’s non-profit sector on dynamic journey to Vision 2030 goals

    Saudi Arabia’s non-profit sector has shown strong growth in recent years, backed by robust financial, policy and regulatory support from the government. New research from KPMG shows that further growth and revitalization is possible – and needed – in the years ahead to meet Vision 2030 goals. Back in 2017, Saudi Arabia counted around 2,500 organizations in the non-profit (or: third) sector. But over the past six years, the number of organizations grew strongly to over 36,000 (as of June 2023).

  • How Middle East Airline Competition Is Transforming Amid Saudi’s Vision 2030 Initiative

    Airline competition in the Middle East is escalating as Saudia Arabia aims to hit its capacity target outlined in Saudi Vision 2030, a government program that includes initiatives to accommodate more than 300 million passengers annually. It comes after the country became the second-fastest growing destination for tourism earlier this year.

  • Saudi Arabia’s economic and fiscal position strong due to Vision 2030: IMF 

    “Despite an uptick in early 2023 to 3.4 percent year on year, headline inflation is back at 2.8 percent year on year in May 2023, as declining contributions from transport and food prices offset the substantial increase in rent,” said the IMF. In line with its economic diversification goals, the Kingdom is spearheading the energy transition journey in the region through various initiatives such as the Saudi Green Initiative, and the wider Middle East Green Initiative.

  • Saudi Borrowing Costs Hit Record, Threatening Crown Prince MBS’ Vision 2030

    The cost of money as measured by the three-month Saudi Interbank Offered Rate, or Saibor, climbed above 6% this week, even higher than it was during the 2008 global financial crisis and after oil prices collapsed in 2020. The rate was below 1% only 18 months ago. Its rise has come as the US Federal Reserve has hiked interest rates to lower inflation, with its latest move of 25 basis points coming last week. The riyal is pegged to the dollar and the kingdom’s central bank has to follow the Fed’s decisions closely, even though Saudi inflation has been well below that of the US in the past two years.

  • Saudi Arabia’s Events Investment Fund acquires stake in Tahaluf, the Informa-KSA strategic joint venture supporting Vision 2030

    Events Investment Fund (EIF), a part of National Development Fund has acquired a stake in Tahaluf, the Saudi Arabian large-scale live events company created through a strategic joint venture between the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP) and Informa, the international academic markets, B2B markets and digital services group.