Latest news with #Vision2030AnnualReport2024
Zawya
30-04-2025
- Business
- Zawya
Third phase of Saudi Vision 2030 to focus on sustaining transformation and capitalizing on emerging growth opportunities
JEDDAH — The Council of Ministers discussed on Tuesday the third phase of Saudi Vision 2030, slated for 2026, which will focus on sustaining the impact of the transformations and capitalizing on emerging growth opportunities. Crown Prince and Prime Minister Mohammed bin Salman chaired the Cabinet session in Jeddah. In a statement to the Saudi Press Agency following the session, Minister of Media Salman Al-Dossary said that the Cabinet expressed its appreciation for the diligent efforts of government agencies that have contributed to the significant achievements of Saudi Vision 2030 as it approaches its ninth year. It noted the remarkable progress outlined in the Vision 2030 Annual Report 2024, which indicates that 93 percent of the targets across national programs and strategies have been met or exceeded. The Cabinet expressed its anticipation for continued successes, progress, and leadership across all sectors. Discussing the third phase of the Vision, the Cabinet highlighted that this upcoming phase will concentrate on sustaining the impact of the transformations, capitalizing on emerging growth opportunities, diligently monitoring and strengthening existing initiatives, and further aligning plans and programs with the overarching Vision 2030 to foster greater economic diversification and growth. At the outset of the session, the Crown Prince briefed the Cabinet on his recent meeting with King Abdullah II of Jordan and his discussions with Indian Prime Minister Narendra Modi. The Cabinet commended the outcomes of the second meeting of the Saudi-Indian Strategic Partnership Council, highlighting the expanding economic, trade, and investment relations between the two nations, as well as efforts to strengthen bilateral cooperation in other sectors. Al-Dossary said that the Cabinet reviewed the Kingdom's extensive participation in regional and international forums, reaffirming its commitment to supporting collaborative efforts aimed at addressing current challenges and promoting global stability and prosperity. The Cabinet emphasized that achieving security in the Middle East requires the swift implementation of a just and comprehensive resolution to the Palestinian cause, consistent with international legitimacy resolutions and the Arab Peace Initiative, leading to the establishment of an independent Palestinian state within the 1967 borders, with East Jerusalem as its capital. The Cabinet reaffirmed the Kingdom's ongoing commitment to expediting the economic recovery of Syria. It reiterated its call for regional and international financial institutions to resume and expand their operations in Syria, supporting the aspirations of its people for a brighter future and decent living standards. The Council commended the outcomes of the recent Saudi Statistics Forum held in Riyadh, which marked the 65th anniversary of the establishment of statistical work in the Kingdom. It acknowledged the sector's significant advancements in international indicators and its vital role in sustainable development, improving service quality, and driving economic and social growth. The Cabinet also expressed appreciation for the generous SR1 billion donation made by the Crown Prince to the National Development Housing Foundation, reflecting his unwavering dedication to improving the lives of citizens and his sustained focus on housing initiatives that provide suitable homes for deserving families throughout the Kingdom. The Cabinet approved the updated organizational structure and manual of the Ministry of Investment, and amendments to the White Land Tax Law. It endorsed changing the name of the Saudi Institute of Internal Auditors to the Saudi Authority of Internal Auditors, and transferring the authority to issue internal auditing licenses from the Ministry of Commerce to the Saudi Authority of Internal Auditors. The Cabinet approved a Host Country Agreement between the government of Saudi Arabia and the International Criminal Police Organization (INTERPOL) to establish a regional INTERPOL office for the Middle East and North Africa in the Kingdom. It endorsed a memorandum of understanding (MoU) for cooperation in city management and operations between the Riyadh Municipality and the Seoul Metropolitan Government, and another MoU for cooperation in mineral resources between the Saudi Ministry of Industry and Mineral Resources and the Jordanian Ministry of Energy and Mineral Resources. The Council approved a MoU on tourism between the Saudi and Zambian ministries of tourism, and another MoU on economic research and studies between the Saudi Ministry of Economy and Planning and the Indian Observer Research Foundation and authorizing the minister of economy and planning or his deputy to sign it. The Cabinet approved a MoU for cooperation in developing the small and medium enterprises sector and startups between the Saudi Small and Medium Enterprises General Authority and the Bahraini Labor Fund, and another MoU for cooperation in the field of tax administration between the Saudi Zakat, Tax, and Customs Authority and the Moroccan General Directorate of Taxes. The Council endorsed an agreement for the mutual recognition of Authorized Economic Operator programs between the Saudi Zakat, Tax, and Customs Authority and the Egyptian Customs Authority. The Cabinet approved a MoU between the Saudi Communications, Space, and Technology Commission and the Telecom Regulatory Authority of India, and another MoU for cooperation in the field of digital government between the Saudi Digital Government Authority and the Moroccan Ministry of Digital Transition and Administration Reform. The Council approved a MoU for cooperation in meteorology between the Saudi National Center for Meteorology and the China Meteorological Administration, and another MoU in the field of archiving and records management between the Saudi National Center for Archives and Records and the National Archives of Indonesia. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Saudi Gazette
29-04-2025
- Business
- Saudi Gazette
3rd phase of Vision 2030 to focus on sustaining transformation and capitalizing on emerging growth opportunities
Saudi Gazette report JEDDAH — The Council of Ministers discussed on Tuesday the third phase of Saudi Vision 2030, slated for 2026, which will focus on sustaining the impact of the transformations and capitalizing on emerging growth opportunities. Crown Prince and Prime Minister Mohammed bin Salman chaired the Cabinet session in Jeddah. In a statement to the Saudi Press Agency following the session, Minister of Media Salman Al-Dossary said that the Cabinet expressed its appreciation for the diligent efforts of government agencies that have contributed to the significant achievements of Saudi Vision 2030 as it approaches its ninth year. It noted the remarkable progress outlined in the Vision 2030 Annual Report 2024, which indicates that 93 percent of the targets across national programs and strategies have been met or exceeded. The Cabinet expressed its anticipation for continued successes, progress, and leadership across all sectors. Discussing the third phase of the Vision, the Cabinet highlighted that this upcoming phase will concentrate on sustaining the impact of the transformations, capitalizing on emerging growth opportunities, diligently monitoring and strengthening existing initiatives, and further aligning plans and programs with the overarching Vision 2030 to foster greater economic diversification and growth. At the outset of the session, the Crown Prince briefed the Cabinet on his recent meeting with King Abdullah II of Jordan and his discussions with Indian Prime Minister Narendra Modi. The Cabinet commended the outcomes of the second meeting of the Saudi-Indian Strategic Partnership Council, highlighting the expanding economic, trade, and investment relations between the two nations, as well as efforts to strengthen bilateral cooperation in other sectors. Al-Dossary said that the Cabinet reviewed the Kingdom's extensive participation in regional and international forums, reaffirming its commitment to supporting collaborative efforts aimed at addressing current challenges and promoting global stability and prosperity. The Cabinet emphasized that achieving security in the Middle East requires the swift implementation of a just and comprehensive resolution to the Palestinian cause, consistent with international legitimacy resolutions and the Arab Peace Initiative, leading to the establishment of an independent Palestinian state within the 1967 borders, with East Jerusalem as its capital. The Cabinet reaffirmed the Kingdom's ongoing commitment to expediting the economic recovery of Syria. It reiterated its call for regional and international financial institutions to resume and expand their operations in Syria, supporting the aspirations of its people for a brighter future and decent living standards. The Council commended the outcomes of the recent Saudi Statistics Forum held in Riyadh, which marked the 65th anniversary of the establishment of statistical work in the Kingdom. It acknowledged the sector's significant advancements in international indicators and its vital role in sustainable development, improving service quality, and driving economic and social growth. The Cabinet also expressed appreciation for the generous SR1 billion donation made by the Crown Prince to the National Development Housing Foundation, reflecting his unwavering dedication to improving the lives of citizens and his sustained focus on housing initiatives that provide suitable homes for deserving families throughout the Kingdom. The Cabinet approved the updated organizational structure and manual of the Ministry of Investment, and amendments to the White Land Tax Law. It endorsed changing the name of the Saudi Institute of Internal Auditors to the Saudi Authority of Internal Auditors, and transferring the authority to issue internal auditing licenses from the Ministry of Commerce to the Saudi Authority of Internal Auditors. The Cabinet approved a Host Country Agreement between the government of Saudi Arabia and the International Criminal Police Organization (INTERPOL) to establish a regional INTERPOL office for the Middle East and North Africa in the Kingdom. It endorsed a memorandum of understanding (MoU) for cooperation in city management and operations between the Riyadh Municipality and the Seoul Metropolitan Government, and another MoU for cooperation in mineral resources between the Saudi Ministry of Industry and Mineral Resources and the Jordanian Ministry of Energy and Mineral Resources. The Council approved a MoU on tourism between the Saudi and Zambian ministries of tourism, and another MoU on economic research and studies between the Saudi Ministry of Economy and Planning and the Indian Observer Research Foundation and authorizing the minister of economy and planning or his deputy to sign it. The Cabinet approved a MoU for cooperation in developing the small and medium enterprises sector and startups between the Saudi Small and Medium Enterprises General Authority and the Bahraini Labor Fund, and another MoU for cooperation in the field of tax administration between the Saudi Zakat, Tax, and Customs Authority and the Moroccan General Directorate of Taxes. The Council endorsed an agreement for the mutual recognition of Authorized Economic Operator programs between the Saudi Zakat, Tax, and Customs Authority and the Egyptian Customs Authority. The Cabinet approved a MoU between the Saudi Communications, Space, and Technology Commission and the Telecom Regulatory Authority of India, and another MoU for cooperation in the field of digital government between the Saudi Digital Government Authority and the Moroccan Ministry of Digital Transition and Administration Reform. The Council approved a MoU for cooperation in meteorology between the Saudi National Center for Meteorology and the China Meteorological Administration, and another MoU in the field of archiving and records management between the Saudi National Center for Archives and Records and the National Archives of Indonesia.
Arabian Post
28-04-2025
- Business
- Arabian Post
Saudi Arabia Accelerates Vision 2030 Goals With Major Milestones Achieved
Saudi Arabia has achieved a major leap forward in its Vision 2030 ambitions, with a significant number of its key initiatives either completed or advancing on schedule, according to the Vision 2030 Annual Report 2024. As of the end of last year, 85 per cent of the 1,502 active projects under the reform plan are either finalised or progressing as planned, demonstrating an accelerated pace towards economic diversification and social transformation. The Vision 2030 programme, launched in 2016 under King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman, was created to shift the kingdom away from its historic reliance on oil revenues. The initiative, designed to be executed over three five-year phases, has not only maintained momentum but exceeded early expectations in many sectors, reflecting a broader transformation in Saudi Arabia's economic and social fabric. According to the Annual Report, 674 initiatives have been fully completed, while another 596 are advancing within their scheduled frameworks. This performance represents a considerable step beyond targets set for this phase of the plan. The government's strategic realignment, particularly in bolstering the private sector's role and expanding non-oil revenues, has played a pivotal part in the project's success to date. The Saudi economy recorded non-oil revenue growth that outpaced traditional projections, supported by expansions in sectors such as tourism, entertainment, technology, and renewable energy. In 2024, tourism became a standout success, with international arrivals crossing 27 million, a figure attributed to the easing of visa regulations, the hosting of major cultural and sporting events, and targeted global marketing campaigns. The Red Sea Project, Diriyah Gate, and the futuristic city of NEOM are among the major undertakings that have made tangible progress, attracting both foreign investment and international attention. See also OPEC Revises Oil Demand Forecast Amid Trade Tensions Labour market reforms, another cornerstone of Vision 2030, have seen significant advancements. The participation of Saudi nationals, particularly women, in the workforce has sharply risen. Female labour force participation reached 36 per cent by the end of 2024, exceeding the Vision 2030 interim target of 30 per cent. Education and training initiatives have been aligned to match labour market needs, with a surge in enrolments for STEM courses and vocational programmes. Public sector reform has also been a focal point, with extensive digital transformation initiatives enhancing government services. The 'Smart Government' strategy has moved a substantial number of services online, reducing bureaucratic hurdles and increasing transparency. In the World Bank's Government Effectiveness Index, Saudi Arabia improved its ranking significantly, reflecting these modernisation efforts. The entertainment and sports sectors have similarly witnessed robust growth, underpinning the kingdom's broader social liberalisation agenda. The hosting of international events such as the Riyadh Season, the Formula 1 Grand Prix in Jeddah, and the Diriyah E-Prix have cemented Saudi Arabia's position as an emerging hub for global entertainment and sports tourism. These developments are not only economically significant but also contribute to the kingdom's efforts to project a new image to the world. Energy sector diversification remains a central theme, with investments in renewables and green technology gathering momentum. Saudi Arabia, while maintaining its position as one of the world's largest oil producers, has accelerated plans to become a leader in renewable energy. The Sakaka solar project has become fully operational, and new agreements for green hydrogen production have positioned the country to be a major player in alternative energy markets. The financial sector has also shown resilience and expansion, with regulatory reforms boosting capital market activity. The Saudi Stock Exchange continued to attract foreign investment through its inclusion in major global indices. Initial Public Offerings of Saudi companies have seen strong investor interest, reflecting greater confidence in the country's economic reforms and governance improvements. Urban development projects, aimed at creating sustainable and smart cities, are progressing across multiple fronts. The NEOM megaproject, while ambitious, reported significant construction milestones, including the development of infrastructure for The Line, an ultra-modern city envisioned as a linear urban structure with zero cars and zero carbon emissions. Similarly, the Qiddiya entertainment city project near Riyadh moved into major construction phases, with the aim of opening key facilities by 2026. Education reforms, intended to cultivate a knowledge-based economy, have advanced through curriculum modernisation and international partnerships. Universities across the kingdom have climbed global rankings, and collaborative initiatives with institutions from Europe, North America, and Asia have expanded the research and innovation landscape. Programmes designed to encourage entrepreneurship among the youth have led to a measurable rise in start-up activity, particularly in the tech and fintech sectors. Healthcare transformation, a vital part of Vision 2030, continued with the expansion of privatised healthcare facilities and the launch of health clusters aimed at improving service quality and access. The Ministry of Health reported enhanced patient outcomes and operational efficiencies, while new digital health initiatives are paving the way for telemedicine and AI-driven diagnostics. Despite these achievements, challenges remain. Global economic uncertainty, fluctuating oil prices, and geopolitical tensions pose external risks. Domestically, sustaining the pace of change while maintaining social cohesion demands careful navigation. Analysts also point to the need for greater transparency around project timelines and budget allocations to ensure continued credibility.
Asharq Al-Awsat
26-04-2025
- Business
- Asharq Al-Awsat
Saudi Arabia Accelerates Toward Vision 2030: Record Achievements and Promising Indicators
Driven by the ambitious Saudi Vision 2030, Saudi Arabia is making rapid strides toward a vibrant society, a thriving economy, and an ambitious nation, guided by Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister. This transformative journey, built upon the Kingdom's inherent strengths, realizes the Crown Prince's assertion that "all success stories start with a vision, and successful visions are based on strong pillars." Crown Prince Mohammed underscored the Kingdom's progress by saying: "Nine years into Vision 2030, we stand proud of what our people have accomplished. They have turned ambition into action and goals into milestones. We have not only met key targets – we have surpassed many. Looking ahead, our resolve is stronger than ever. We will accelerate delivery, embrace every opportunity, and further elevate the Kingdom's position as a global leader." Saudi Arabia is witnessing a significant transformation across all sectors, fueled by the remarkable progress in realizing Saudi Vision 2030's goals through its vision realization programs and integrated national strategies. This progress is underpinned by the Kingdom's rich human and natural resources, robust investment capabilities, economic strength, prominent Arab, Islamic, and international standing, and strategic geographic location. Saudi Vision 2030 is charting a course that integrates culture and innovation, adapting to rapid global changes and creating broader opportunities for citizens, residents, and visitors. Implemented in three five-year phases, each building on the successes of the last, the vision's initial phase focused on foundational structural, economic, financial, and social reforms. The second phase accelerated progress and maximized the benefits of key sectors. The upcoming third phase aims to enhance the sustainability of this transformation and capitalize on emerging growth opportunities. Marking the ninth year since the launch of this ambitious vision, the Vision 2030 Annual Report 2024 offers a comprehensive overview of the vision's journey, encompassing past phases, achievements, preparations for the future, and its associated programs and national strategies. The second section of the report details the vision's performance through first and second-level indicators, showcasing overall progress in its programs and initiatives. It highlights achievements across the three pillars: a vibrant society, a thriving economy, and an ambitious nation. The third section provides an in-depth look at key accomplishments in 2024 across four axes: a fast-growing economy, an empowered society, a leading destination, and a sustainable vision. At the beginning of the report, King Salman expressed God almighty for the achievements accomplished by the Kingdom in just under a decade. The transformation has made it into a model for transformation in the world and across all sectors, he remarked. He expressed his pride in Saudi citizens who made this transformation and drive towards progress and prosperity possible. 'We will continue to forge ahead towards achieving more sustainable development for the coming generations,' he vowed. According to the report, 85% of the 1,502 active initiatives are either completed or on track (674 completed and 596 on track). Impressively, 93% of national program and strategy indicators have met, exceeded, or are close to meeting their 2024 interim targets, with 257 exceeding annual goals and eight vision targets achieved six years ahead of schedule. Several 2030 targets have already been met, including exceeding 100 million tourists, registering eight Saudi sites on UNESCO World Heritage List, and reaching 1.2 million volunteers (surpassing the one million goal). Women's labor force participation reached 33.5%, exceeding the 2030 target of 30%. The Kingdom also achieved its 7% unemployment target. The country's e-participation ranking soared 32 places since 2016 to seventh globally, surpassing its top ten target. Similarly, its UN E-Government Development Index ranking climbed 30 places to sixth globally, nearing its top five ambition. Furthermore, the number of international companies establishing regional headquarters in the Kingdom has already exceeded the 2030 target, reaching over 571. Regarding key indicators related to "vibrant society," the Kingdom achieved remarkable milestones. A historic high of 16.92 million foreign Umrah pilgrims was recorded, significantly exceeding the 2024 target of 11.3 million. Home ownership among Saudi households reached 65.4%, a substantial increase from 47% in 2016 and already surpassing the 2025 target. Healthcare coverage expanded to 96.4% of population centers, putting the Kingdom within reach of its 2030 goal of 99.5%. Furthermore, the percentage of adults engaging in the recommended 150 minutes of weekly physical activity rose to 58.5%, exceeding the 2024 target, alongside 18.7% of children and adolescents meeting the daily 60-minute recommendation. This progress contributes to an increased average life expectancy of 78.8 years, moving closer to the 2030 target of 80 years. Advanced indicators for "thriving economy" reveal that the Public Investment Fund's assets under management have more than tripled since Vision 2030's launch, reaching SAR3.53 trillion and exceeding the 2024 target. The private sector's contribution to GDP reached 47%, surpassing the 2024 target. The localization of military industries has also seen substantial growth, reaching 19.35%, a notable increase from 7.7% in 2021. In its ninth year, the Kingdom's Vision 2030 continues its strong momentum, achieving significant milestones. Employment in small and medium-sized enterprises reached 7.86 million, surpassing the 2024 target. Four Saudi universities now rank among the world's top 500, with King Saud University achieving a global rank of 90th – a first for a Saudi institution in the top 100. The "ambitious nation" goal also demonstrates progress, with 71.67% of large companies offering CSR programs, exceeding the 2024 target. The non-profit sector's contribution to GDP reached 0.99%, moving towards the 2030 goal of 5%, while employment in this sector increased to 0.64%. Under the report's "fast-growing economy" section, the Kingdom rose to 16th place in the global competitiveness index, maintaining its leading position in venture capital across the Middle East and North Africa with a 40% share. Exceptional achievements within "empowered society" include the Seha Virtual Hospital's entry into the Guinness World Records as the largest virtual hospital globally. Furthermore, seven Saudi hospitals are now among the top 250 worldwide, with King Faisal Specialist Hospital recognized as the global leader in medical technology utilization. The accreditation of 16 Saudi cities as healthy cities positions the Kingdom as the highest-ranking nation in the region for globally accredited healthy cities. The readiness of health areas to confront health risks has also increased significantly to 92%. By the end of 2024, over 850,000 Saudi families achieved homeownership. The digital transformation of the judicial system saw 98% of litigation sessions conducted electronically, totaling over 2.3 million sessions. Additionally, more than 5.3 million electronic powers of attorney were issued, benefiting over six million individuals. Saudi students excelled internationally, securing 114 medals and grand prizes at the prestigious ISEF 2024 and ITEX 2024 science, engineering, and invention competitions. Efforts to empower national talent continue to yield results, with over 437,000 Saudi citizens joining the private sector workforce in 2024 through Human Resources Development Fund programs. By the end of 2024, around 2.4 million Saudi men and women were employed in the private sector. The Kingdom has made significant strides in empowering women, with the percentage of Saudi women in middle and senior management positions reaching 43.8%. Their participation in the labor market has also seen remarkable growth, increasing to 36% by the end of 2024, a substantial rise from 17% in 2017. Safety and Security have also seen notable improvements. The traffic accident death rate per 100,000 people decreased from 17.6 in 2018 to 12.3 in 2024. Furthermore, the confidence index in the Kingdom's security services reached an impressive 99.85%. In digital leadership, the Kingdom has secured advanced global positions, ranking first in the internet users index, second globally in both the digital transformation index for companies and the technology development and application index. The sports sector has witnessed considerable growth, with the number of sports clubs covering diverse activities increasing to 128 and the number of sports federations rising to 97 – a growth rate exceeding 200%. The percentage of Saudi women engaging in weekly sports activities has reached 46%. Under the "leading destination" section, the Kingdom advanced to 16th place globally in the IMD World Competitiveness Yearbook. It won the bid to host the largest edition of the FIFA World Cup in 2034, becoming the first nation to host this expanded event independently. The Kingdom also established the Esports World Cup and hosted its inaugural edition. Continuing its efforts to boost the international competitiveness of Saudi cities, Madinah was listed among the top 100 global tourist destinations for 2024, and AlUla became the first Middle Eastern destination accredited by Destinations International. The electronic visa program was expanded to include 66 countries. Development continues on major tourism projects, with Qiddiya's Aquarabia reaching an 81% completion rate and Six Flags at 87%. International tourism revenues saw a significant increase of 148% compared to 2019, and entertainment events attracted 76.9 million visitors. The Kingdom also led the G20 in international tourist arrivals. Cultural enrichment saw 16 cultural elements inscribed on UNESCO's Representative List of Intangible Cultural Heritage. The first specialized college of arts was launched at King Saud University, and the ALLaM model was integrated into IBM watsonx platform as a leading generative AI model in Arabic, bolstering Arabic content on international platforms. In line with the report's "sustainable vision" section, significant environmental initiatives have been undertaken, including the planting of over 115 million trees and the rehabilitation of more than 118,000 hectares of degraded land. The agricultural sector's contribution to GDP reached SAR114 billion, and over 7,800 endangered animals were resettled. The launch of the first hydrogen-powered bus and taxi marked a step towards sustainable transportation, and four additional renewable energy projects were commissioned, driving the cost of renewable electricity production to some of the lowest global levels. The world's first solar-powered desalination plant was also established. Reflecting on these achievements in its ninth year, the Kingdom's Vision 2030 has demonstrably matured ahead of schedule, delivering results that have surpassed expectations. This success is attributed to effective planning, dedicated effort, and the ambition of the Saudi people.
