As a new pearl organized in the contract of the goals of the Saudi Vision 2030, which is sponsored by Crown Prince Mohammed bin Salman, the announcement came last Monday of the National Investment Strategy, which is integrated with the vision programs previously announced during the past few years.
The strategy appears as a roadmap for creative investments in the Kingdom, and comes at a time when everyone fears the turmoil and fluctuations of financial and business markets, between the US debt ceiling crisis and the European energy problem, not to mention the fears of China falling into the trap of a real estate crisis.
The recent Saudi proposal regarding the progressive vision of spending in order to attract investments, a good bet on the national horse that is able to question the stone in order to serve humans, and force nature to reveal its treasures in the heart of the desert, under the seabed, and through the sun’s beams, where sources of clean energy, all of which are paths And courses to a different tomorrow, serving the people of the Kingdom in the first place, and going on the path of supporting the Arab presence economically and investment at the global level.
On the day of the announcement of the features and landmarks of the strategy, the Crown Prince emphasized the certainty, which lacked only the hands holding the coals, in order to reappear before the world, and float with real strength and presence on the surface of events.
The facts that Prince Mohammed put before the Saudis themselves, to walk with him on the path of the legacy of prosperity for future generations, tell us that the Kingdom possesses huge investment capabilities, which can help strongly in turning the wheel of the country’s economy and improving the lives of people.
Vision 2030, through its various stages, confirms the beginning of the journey of a thousand miles towards a different kingdom in terms of modernization, and if it continues to maintain the threads of originality, and walks through the paths of modernity together, it seeks morning and evening to exploit the strengths that God has blessed it with from a distinguished strategic location and a leading investment force , and Arab and Islamic depth loved and desired.
Perhaps without further ado, it can be concluded that the new investment plan excelled in placing the Kingdom on the map of the rapidly changing geopolitical world, and exploited its geographical location, which nominates it to become a center for logistical business between Africa, Asia and Europe, which indicates a qualitative and quantitative shift in the Saudi financial and economic role in the eastern half from the globe.
Talking about the plan, discussing its details, and talking about its inherent advantages need much more than the space available for writing. However, in a useful summary, it can be said that there are major goals behind pumping trillions of dollars into the Kingdom’s investments during the current decade.
The plan we are about makes the Kingdom a global economic engine, and pushes economic development into broad horizons at the national and regional levels at once.
At the heart of the new Saudi investment trend, one of the most important goals appears to be preparing for the post-oil phase, meaning that the work is based on forward-looking visions, and not instantaneous impulses, as it is expected that a boom will occur in the Saudi non-oil economy in the coming years.
Here, it should be noted that the steps taken by the Kingdom since the launch of Vision 2030 have made Saudi Arabia make qualitative leaps in the field of strengthening its economy by diversifying sources of income and reducing dependence on oil. The first of this year to reach 2.9 percent, despite the fact that the world was suffering from the consequences of the pandemic of the bad virus, Covid – 19, and its impact on the world’s economies.
The strategy makes the Kingdom a candidate site at the global level to attract more foreign investments, and establish special economic zones with the aim of attracting more multinational companies, especially in light of the Kingdom’s capabilities in economic relations with the rest of the Arab world on the one hand, The majority of East Asian countries on the other hand.
What emerges from the news of the strategy and in its early manifestations will reflect coolness and peace on the Saudi labor market, opening in front of millions of the Kingdom’s youth energies of light and doors of hope, making the Saudi human wealth an added value that raises and raises the foundations of the national building and the Saudi home.
At the same time, the repercussions of the national investment strategy seem to have high returns and are valuable to the entire Arab region, as it makes it a region rife with positive, conscious and promising competition, which will first be reflected in more economic development capabilities in the region in a large way, in conjunction with the ability to attract global capital that A researcher is seeking economic orbits with good returns, especially after the European and American markets were saturated, and the rich neoliberal policies showed huge failures and losses, and the situation dispenses with the question.
The strategy makes Riyadh a sustainable destination for investment, and a clear destination for major companies, and the responsibility here is on Al-Rawi, the Saudi Minister of Economy, Khalid Al-Falih, in addition to the initiatives that support and impetus the establishment of special economic zones, with competitive regulations and attractive incentives for investment in priority sectors, which opens The door is wide for the private sector and its role in promoting national capital formation, until it becomes a productive and prosperous sector, dependent on self-demand and not government spending or fluctuations that may be caused by oil price movements.
The National Investments Orchestra is accompanied by reforms and development in legislative systems and development to attract investment, which means an integrated plan for a prosperous future legacy.
* Quoted from Asharq Al-Awsat newspaper.
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