The world is about to see one of the most dynamic approaches to infrastructure and the future with Saudi Arabia under the leadership of Mohammed bin Salman Al Saud.
A unique and visionary strategy adopted by Saudi Arabia with 2030 vision where the country is diversifying the economy away from dependence on oil and gas, Saudi Arabia is investing in industries such as tourism, entertainment, renewable energy, and advanced manufacturing to create new sources of revenue.
Saudi Arabia is encouraging private sector and foreign investor growth. The government is implementing measures to make it easier for local and international businesses to operate in the country, such as reducing bureaucracy and simplifying regulations. Additionally, it is working to empower women. The government is working to increase women’s participation in the workforce and create new opportunities for female entrepreneurs. The government is investing in education and training programs to equip Saudi nationals with the skills needed to succeed in the new economy.
Overall, the future of business in Saudi Arabia looks bright, as the country continues to make progress towards achieving its economic and social goals.
The future of business in Saudi Arabia looks promising, as the country is implementing a series of economic and social reforms as part of its Vision 2030 plan. This plan aims to diversify the economy, create jobs for Saudi nationals, and improve the standard of living for all citizens.
Some of the key areas of focus include:
The Neom Project
Neom Project is also known as the world’s biggest project ever. This is a planned $500 billion mega-city project in the north-western part of Saudi Arabia, near the border with Egypt and Jordan. The city is expected to cover an area of 26,500 square kilometers and will focus on areas such as energy, water, biotechnology, food, and advanced manufacturing. It is being developed by the Public Investment Fund (PIF) of Saudi Arabia.
Qiddiya is a planned $8 billion entertainment city project located near Riyadh, the capital of Saudi Arabia. The city will include theme parks, resorts, sports facilities, and other entertainment venues, and is expected to attract millions of visitors each year.
The Red Sea Project
The Red Sea Project is a planned tourism project that will cover an area of 28,000 square kilometers on the western coast of Saudi Arabia, between the cities of Umluj and Al Wajh. The project is expected to include luxury hotels, resorts, and other tourist attractions, and is being developed by the Red Sea Development Company.
King Salman Energy Park (SPARK)
King Salman Energy Park (SPARK) is a planned industrial city project located near Jubail, in the Eastern Province of Saudi Arabia. The city will focus on energy-related industries such as petrochemicals, refining, and power generation, and is expected to attract local and international investors. It is being developed by the Saudi Arabian Oil Company (Saudi Aramco).
Note: Follow us for our next article on all the projects outlined by the government such as Line, Neom Bay, Oxagon, Trojena, Sindalah.