Crown Prince Mohammed bin Salman launched 11 initiatives and projects within 90 days since the beginning of 2021. To confirm that the Kingdom is proceeding in its historic, transformative development path, in all sectors and all regions, in accordance with the goals of Vision 2030, especially since all initiatives and projects are pillars of a strong and prosperous economy that inspires hope and spreads optimism, and brings benefit to the Saudi kingdom, and reflects on its citizens with the good because that is the focus and goal of development.
The Shareek program is the latest Saudi program launched by the Crown Prince to confirm the Kingdom’s determination to assume a greater global position on the economic and investment front, and to move forward towards development and achieving sustainable development, in accordance with the goals of the Kingdom’s 2030 vision, which is a road map for a better future, for those who live in the Kingdom of Saudi Arabia. The program involves pushing the wheel of achievement forward, by stimulating more than 100 local companies that have the opportunity to turn into a leading global company, enabling them to reach an investment volume of 5 trillion riyals (~1.3 trillion USD) by the end of 2030, and raising their contribution to the GDP to 65%, What enhances the success of vision and achievement of its goals.
In addition, the significant investments made by the “Shareek” initiative enable the promotion of local content in its entirety, and the inter-relationships between local supply chains, starting from the stages of raw materials discovery, mining and production, through the manufacturing industries, up to the stages of marketing and after-sales services, and all related to that. Logistical services and transportation, which enhances the industrial renaissance and economic prosperity in the Kingdom, and promotes the prosperity of the citizen.
Made in Saudi Arabia
And before that, the announcement of the “Made in Saudi” program, which reflected the leadership’s aspirations towards industrial development, and the promotion of loyalty to the national products, through the development of local content, expansion of localization, development of exports, and diversification of investments, so that the Saudis receive the benefits of the citizen through increasing job opportunities, prosperity, and a brighter future.
The Green Saudi initiative will have a significant positive impact on public health and quality of life, as planting 10 billion trees will contribute to improving the environment in general, through the restoration of 40 million hectares, and the development of vegetation and wildlife. Its effect in purifying the air from pollutants and dust, combating desertification, reducing temperatures, increasing precipitation, supporting ecotourism, and creating more job opportunities for citizens.
The planting of 10 billion trees within the initiative means increasing the area covered with trees in the Kingdom to 12 times, and the Kingdom’s contribution by more than 4% of the global initiative’s goals to reduce the degradation of lands and fungal habitats, and 1% of the global target for planting a trillion trees, which is a confirmation of the advanced position that it has It includes the Kingdom and the global role it plays in efforts to combat climate change.
General view of Riyadh city, after the Saudi government eased a curfew (Photo: Reuters)
Green Middle East
In conjunction with it came the announcement of the Green Middle East initiative, which comes in light of the Kingdom’s pioneering role towards common international issues, and as a continuation of its efforts to protect the planet during its presidency of the G20.
Development of specialized legislation
As for the development of the system of specialized legislation announced by Crown Prince Mohammed bin Salman, it confirms the leadership’s determination to develop the judicial system and the regulations and legislation that facilitate the ways for citizens to litigate, preserve rights, achieve social security for families, and enhance the status and empowerment of Saudi women in society.
The Line and Coral Bloom
Regarding smart architectural projects that come in the form of making the world’s eyes turn to Saudi Arabia, the pioneering future city “The Line” in NEOM, which is the first city of its kind in the world, guarantees the Kingdom’s access to an advanced global position and affirms Saudi leadership in cognitive technology societies enhanced by artificial intelligence, free from any semblance of pollution.
Also, the “Coral Bloom Red Sea” project, which was launched with its natural capabilities as the fourth largest reef in the world for dense coral reefs and endangered animals, and with added constructions that take into account modernity concepts and environmental conditions, will place the Kingdom on the global tourism map, with its innovative vision. Matching its pristine nature, it is the most ambitious renewable tourism project in the world.
Al Soudah Development in Asir
Among the projects is also the launch of the Soudah Development Company in Asir, with investments exceeding 11 billion riyals (~29 billion USD). A quantum leap for the Kingdom and the region.
The crown prince’s vision did not neglect the development of Riyadh, but rather set a vision for it to become one of the ten largest economic cities in the world, and one of the forty largest global economies as a city, which will place it on the map of major global cities and make it one of the most important economic destinations, which makes Riyadh create more jobs and achieve significant economic growth by increasing investment and creating many other opportunities for citizens.
Public Investment Fund
During the past 90 days, the Public Investment Fund announced its strategy to reach 4 trillion riyals (~1.06 trillion USD) with its assets by the end of 2025, to pump 150 billion riyals (~40 billion USD) annually into the national economy, and to create 1.8 million jobs, an exceptional step that enhances the credibility of the Vision 2030 targets for economic development in the Kingdom and international confidence in the Saudi economy, and its attractiveness to foreign investments, as a vibrant and thriving economy.
Two new satellites have also been launched; It raised the number of Saudi satellites in space to 17, placing the Kingdom at the forefront of the Arab countries, and strengthening its leadership in space.