‘Saudi Vision 2030,’ Saudi Arabia’s National Transformation Plan for a New Saudi Economy, Launches with Media Push

Saudi Arabia’s has launched the ‘Saudi Arabia 2030’ National Transformation Plan (sometimes referred to as ‘Vision 2030’) today with a video announcement on Twitter and the first video interview with Deputy Crown Prince Mohammed bin Salman given to the news channel Al Arabiya.

Details of the comprehensive plan are expected to include economic and social aspects. In the exclusive interview with Al Arabiya, the deputy crown prince pledged to end Riyadh’s dependence on oil revenue by 2020. Prince Mohammed bin Salman also discussed plans to put oil Saudi Aramco’s shares in an initial public offering, the Saudi public investment fund, a Green Card scheme, tourism, expats, defense and further details on the Saudi Vision. 

Deputy Crown Prince Mohammed bin Salman.

Deputy Crown Prince Mohammed bin Salman.

“The kingdom can live in 2020 without any dependence on oil … The Saudi addiction to oil has disturbed development of many sectors in past years,” the deputy crown prince said to Al Arabiya. 

[See Al Arabiya here for developing information on the interview and the plan.]

A promotional video for the plan was also published on a newly-created twitter handle for the policy, @saudivision2030. That profile already has over 300,000 followers.  

King Salman approved the plan in a short announcement on Saudi TV on Monday, following approval by the Saudi cabinet.

The IMF said it was “encouraged” by the efforts of Saudi Arabia and other Gulf Arab oil exporters to repair damage to their state finances as low crude prices slash export revenues, according to Reuters. “I do see in a number of countries action to address the budget deficit,” Masood Ahmed, director of the IMF’s Middle East and central Asia department, said in an interview. “That gives us encouragement and comfort.”

A report in the Saudi-based Arab News described “excitement in the air” in Saudi Arabia. “Saudis and expatriates are waiting with bated breath for details…Most Saudis believe the national transformation plan will change their lives and future.”





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