Achievements of Vision 2030: Saudi Minister of Industry presents them in Washington
In a high-level dialogue session in Washington, D.C., His Excellency the Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef, reviewed the significant achievements of the Kingdom's Vision 2030 since its launch nearly a decade ago. He highlighted the qualitative transformations the Kingdom has witnessed across various sectors, reflecting the maturity of the Saudi experience as a leading and effective global development model.
This came during Minister Al-Khorayef's participation in a session organized by the Center for Strategic and International Studies (CSIS), a leading Washington think tank, entitled "Saudi Vision 2030 in its Tenth Year." The session served as an important platform to highlight the tangible progress the Kingdom has made in its journey toward achieving its ambitious goals.
Vision 2030: Background and Strategic Objectives
The Kingdom’s Vision 2030 was launched in 2016 under the leadership of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, to serve as a roadmap for the Kingdom’s future. The Vision primarily aims to diversify the economic base and reduce reliance on oil as the main source of income by developing promising economic sectors such as industry, mining, tourism, entertainment, and technology. The Vision is based on three main pillars: a vibrant society, a thriving economy, and an ambitious nation, which guide all national transformation programs and initiatives.
The industrial and mining sectors: key drivers of growth
During the session, Al-Khorayef affirmed that Vision 2030 represents a comprehensive strategic framework for economic transformation, contributing to the enhancement of the national economy's resilience and opening new horizons for international partnerships. He explained that the industrial and mining sectors constitute two fundamental pillars of this journey, noting the rapid growth these sectors are witnessing thanks to the National Industrial Strategy and local capacity-building programs. He highlighted the significant strides made in developing the legislative and investment environment, making the Kingdom an attractive destination for high-quality local and international investments and solidifying its position as a reliable partner in supply chains and future industries.
Importance and impact at all levels
The impact of Vision 2030 extends far beyond the local level, reaching regionally and internationally. Domestically, the Vision has contributed to creating millions of jobs, empowering women and youth, developing infrastructure, and improving the quality of life for citizens and residents. Regionally, the Saudi experience in economic transformation has become an inspiring model for countries in the region seeking to diversify their economies. Internationally, the Kingdom is positioning itself as an influential economic power and a strategic investment partner, with its mega-projects such as NEOM, Qiddiya, and the Red Sea Project opening unprecedented opportunities for global companies, thus enhancing the stability and integration of the global economy.
A pioneering experience in economic transformation
Al-Khorayef explained that the Kingdom is making steady progress towards diversifying its economic base and developing local content, with the aim of building a competitive and sustainable industrial economy that keeps pace with global changes. The Minister's participation in this prestigious international platform comes within the framework of the Kingdom's ongoing efforts to highlight its pioneering experience in comprehensive economic transformation, showcase the promising opportunities that the Saudi economy offers to investors and partners worldwide, and reaffirm that Vision 2030 has already become a leading model to be emulated globally.
