By: Mohamed Abu Meleeh
Riyadh – Mubasher: Saudi Arabia on Monday announced its "2030 Vision", which deputy crown prince Mohammed bin Salman, head of the Council for Economic and Developmental Affairs, affirmed is based on three main foundations, namely: Arab and Islamic depth, investment strength, and the strategic geographical location.
The Vision entailed 25 main points related to all of the Kingdom's sectors.
These points included transforming Aramco from an oil and gas producer to an industrial conglomerate with global operations, supporting Saudi firms to become major players in global markets, providing promising companies with growth opportunities, and increasing the contribution of small and medium-sized enterprises (SMEs) from 20% of gross domestic product (GDP) to 35%.
The Kingdom also seeks to convert the general investment fund into a global investment institution and to raise its assets from SAR 600 billion to SAR 7 trillion.
The Vision also included KSA's plan to establish the largest Islamic museum in the world, which will be based in Riyadh, as well as allowing non-Muslims to visit.
Furthermore, the scheme entails raising capacity to receive Ummrah pilgrims from 8 million or 30 million as well as include three Saudi cities amongst the best top 100 cities in the world.
Saudi Arabia will also work on diversifying its energy sources to include wind power in the north, while Aramco is set to announce details for a solar energy complex.
In addition, the Kingdom will see an expansion in the military industries sector, which will bring in high profits and create new jobs.
Translated by: Nada Adel Sobhi
