"Saudi Arabia has begun reviewing its Vision 2030, a sweeping diversification agenda launched in Saudi Arabia in 2016. The country's de facto ruler, Crown Prince Mohammed bin Salman at the time Deputy Crown Prince as well as Minister of Defense introduced the $2 trillion (1.7 trillion) reform agenda a decade ago to reduce the kingdom's reliance on oil, and to transform the economy and society. Since then, Riyadh has been shifting its economy as the world's biggest oil exporter toward technology, tourism and renewable energy."
"Other key areas are the construction of various giga projects large-scale developments like entire new cities that are considered transformative for perception of Saudi Arabia the increase of private-sector growth, as well as steps to modernize Saudi society, such as expanding women's rights and boosting their participation in the workforce. This week, however, Finance Minister Mohammed al-Jadaan announcedthat Saudi Arabia was adjusting the reform's strategy. In an interview with the business news site Bloomberg on Monday,"
Saudi Arabia is reviewing and adjusting Vision 2030 after a decade of emphasis on large-scale construction and giga projects. The original $2 trillion reform agenda aimed to reduce oil dependence and transform the economy and society, including moves toward technology, tourism, renewable energy, private-sector growth, and social modernization such as expanding women's rights and workforce participation. Finance Minister Mohammed al-Jadaan announced a revised five-year plan to double down on tourism, manufacturing, logistics and energy. The revised approach will scale back some projects, expand others and put some on hold, with construction plans already being scaled down or stopped.
Read at www.dw.com
Unable to calculate read time
Collection
[
|
...
]