2017 proved a momentous year for the Kingdom of Saudi Arabia as the various strategies related to the country’s Vision 2030 and National Transformation Plan 2020 started to take shape.
Efforts to encourage greater private sector participation have coincided with strong growth in Saudi Arabia’s mining sector, a key part of the country’s diversification strategy and a prominent driver of broader economic expansion.
Saudi Arabia’s heritage tourism credentials were given a boost in late June, following UNESCO’s decision to add Al Ahsa Oasis to its list of World Heritage sites.
Saudi Arabia is preparing to start the privatisation process of its flour milling industry, tying into broader plans to enhance the role of the private sector.
How is Vision 2030 shaping foreign investors views on Saudi Arabia as an investment destination?
The Financial Sector Development Programme (FSDP) 2020, which was approved in early May, aims to expand the capacity of financial services firms to meet the financing needs of Vision 2030, Saudi Arabia’s long-term national development plan.
Saudi Arabia’s debut at the Cannes Film Festival, coupled with moves to expand the number of cinemas and promote local filmmaking, is expected to support the Kingdom’s efforts to double the entertainment sector’s GDP contribution.