by: TN Media News:
Saudi Crown Prince Affirms Commitment to Vision 2030, Unveils Ambitious Plans for Economic Growth.
In a definitive statement of dedication to Saudi Arabia’s prosperous future, Crown Prince Mohammed bin Salman, also at the helm of the Economic and Development Council, has outlined a vision for sustained economic development and growth. The Crown Prince expressed his satisfaction with the transformative financial and economic reforms underway, driven by the ambitious Saudi Vision 2030 initiative.
According to the Saudi Press Agency (SPA), Prince Mohammed bin Salman emphasized the Kingdom’s unwavering commitment to increasing the sustainable growth rate by leveraging the vast development opportunities encapsulated within the framework of Vision 2030. Under the directives of King Salman bin Abdulaziz, the Crown Prince affirmed his continuous efforts to shape a brighter future for the kingdom, marked by a significant surge in national production diversifying beyond oil revenues.
“The new national budget aligns with our commitment to improving the growth rate through expanded public expenditure,” stated the Crown Prince. He underlined that the budget reflects comprehensive plans and initiatives geared towards enhancing the quality of services for Saudi citizens, expatriates, and visitors while simultaneously upgrading essential infrastructure.
Prince Mohammed bin Salman highlighted the pivotal role of emerging economic sectors in the upcoming budget, foreseeing increased investment, encouragement of industries, and a surge in the utilization of local goods. Expressing appreciation for the Public Investment Fund and National Development Fund, he underscored their effective contributions to the Kingdom’s economic development.
The Crown Prince unveiled ambitious goals, indicating that the Saudi government aims to boost exports, develop industrial sectors, and increase the number of tourists—both domestic and foreign—up to 150 million by 2030. Plans for economic diversification will be bolstered, focusing on the patronage of emerging sectors and a robust investment plan for the sports industry through privatization.
“Saudi Arabia is determined to modernize the industrial sector, aiming for a national production figure of 895 billion Rials by 2030,” affirmed Prince Mohammed bin Salman. He emphasized the commitment to diversifying the industrial economy through focused attention on 12 sub-sectors.
Addressing Saudi Arabia’s regional and international role, the Crown Prince stated, “The Kingdom is committed to playing a key leadership role, fostering peace, stability, and contributing to global prosperity. We seek to stabilize and modernize the supply chain for the benefit of nations worldwide.”
Looking ahead, Prince Mohammed bin Salman announced forthcoming long-term and mid-term measures to enhance the kingdom’s economic attractiveness. The commitment to developing all economic sectors along modern lines reflects a strategic effort to create a conducive environment for both domestic and foreign investments, underscoring Saudi Arabia’s vision for a thriving and diversified economy in the years to come.
