Country Profile
From The Report: Saudi Arabia 2019
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Saudi Arabia is the largest country in the Middle East and the 13th-largest nation in the world, with an area of approximately 2.15m sq km, covering 80% of the Arabian Peninsula. Home to an estimated 15% of the world’s proven oil reserves and the single-largest economy in MENA, Saudi Arabia is a key player both regionally and globally. Established in September 1932, in recent years the Kingdom has poured its considerable financial resources into a series of large-scale economic development, diversification and modernisation initiatives. Saudi Arabia has attracted international attention for the momentum of its socio-economic transformation, taking place under the auspices of the Vision 2030 development blueprint. This chapter contains a viewpoint from Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud and an interview with Prince Khalid bin Faisal Al Saud, Governor, Makkah Province.

Articles from this Chapter

Overview

Forward-thinking investment: The Kingdom continues to diversify its oil revenues to create a flourishing modern state
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Home to an estimated 15% of the world’s proven oil reserves and the single-largest economy in MENA, Saudi Arabia is a key player not only in the region, but globally as well. Since its establishment in September 1932, the Kingdom has poured its considerable financial resources into a series of large-scale economic development, diversification and modernisation initiatives. In the last few years, Saudi Arabia has attracted international attention for the momentum of its socio-economic transformation…

Viewpoint

The road ahead: Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, on trends in the local economy since the launch of Vision 2030
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Viewpoint:Mohammed bin Salman bin Abdulaziz Al Saud In the nearly three years since Vision 2030 was launched, Saudi Arabia has made great strides towards developing and diversifying its economy. Many sectors and government institutions have been restructured and upgraded, and economic and social reforms have been implemented across the board, notably in the cultural, entertainment and sporting segments. The numbers that have emerged since the country entered this phase of fast-paced development…

Analysis

Higher focus: Financial incentives for students and collaboration with international universities will boost regional innovation
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GCC countries have long appreciated the importance of education for their sustained development. However, the sector, and higher education in particular, has risen as a priority over the past decade with the launch of ambitious economic diversification plans across the region. These strategies seek to harness the potential of the GCC’s expanding population – which is projected to see its under-25 age demographic constitute one-third of 65m residents by 2030 – to drive an economic transition…

Analysis

Higher focus: Financial incentives for students and collaboration with international universities will boost regional innovation
OBG
plus

GCC countries have long appreciated the importance of education for their sustained development. However, the sector, and higher education in particular, has risen as a priority over the past decade with the launch of ambitious economic diversification plans across the region. These strategies seek to harness the potential of the GCC’s expanding population – which is projected to see its under-25 age demographic constitute one-third of 65m residents by 2030 – to drive an economic transition…

Interview

Prime location: Prince Khalid bin Faisal Al Saud, Governor, Makkah Province, on supporting the region’s economic development
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Interview:Prince Khalid bin Faisal Al Saud What steps have been taken to drive public-private partnerships (PPPs) in the Makkah region? PRINCE KHALID BIN FAISAL AL SAUD: Makkah has supported PPP programmes to advance development in the region. The Integration Development Centre (IDC) was established in 2015, with the primary aim of stimulating private sector participation in development projects. The IDC’s efforts have helped the Treasury save SR2bn ($533.2m) since its inception. In 2018…