December 5, 2022

Raven Tribune

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Saudi Arabia is restructuring its economy with Vision 2030

D.His biggest change in the history of Saudi Arabia is taking place under difficult circumstances. Today’s crown is Prince Mohammed bin Salman’s “Vision 2030” issued in April 2016 with the aim of making the kingdom independent of oil in a few years. Because the income from oil exports by Saudi Arabia can no longer be trusted. The International Energy Agency (IEA) predicts that demand for crude oil will fall by almost one-fifth by 2030 and by three-quarters by 2050.

With the epidemic, the kingdom is losing valuable time. Because the government has severely shut down life for months. He landed on the brakes in June 2020 when the seven-day event crossed 90. Nationwide locks and restrictions on the pilgrimage to Mecca reduced them to two earlier this year. It currently stands at 20. 35 million people were vaccinated with only twelve million doses. Nevertheless, the government has been gradually easing restrictions since April.

Women and young people believe

Saudi Arabia is already benefiting from “Vision 2030” in the current fight against the epidemic. Because their strategic goals include digitizing the country and creating a strong digital infrastructure, including the health sector. The change in the country must go beyond that. The focus is on creating an economy independent of crude oil, and social change and environmental protection are more than a goal. Although there is still a long way to go, progress is being made in all areas.

Within a few years, highly restricted social norms were softened, which was especially beneficial for women and youth. Measures to protect the environment are no longer in high-gloss projects, but are becoming a reality. Last month, the kingdom’s second-largest photovoltaic system, with a capacity of 300 megawatts, went into operation near the Sakaka Oasis. It is another step towards generating half of all electricity from renewable sources by 2030. 94 percent waste recycling projects and a major restructuring project.

On April 27, 2021, Crown Prince Mohammed bin Salman (left) takes over the shares of

On April 27, 2021, Crown Prince Mohammed bin Salman (left) takes over the shares of “Vision 2030”.

Image: AFP

On the fifth anniversary of the presentation of the vision, Muhammad bin Salman described in a lengthy television interview that there was no other way to approach it. The number of Saudis has increased tenfold since the discovery of oil, he said. So oil revenues are no longer enough to guarantee the quality of life accustomed to. Slowing down the Crown Prince and the young technocrats around him is not just contagious. The repression in the kingdom and the loss of the reputation caused by the assassination of Saudi dissident Jamal Kashoki at the Saudi consulate in Istanbul in 2018 also had a negative impact.

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