ECONOMYSLIDE

‘KSA Vision 2030’ moves forward towards ambitious goals for a sustainable future

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Ashraf AboArafe

13 million pilgrims in 2023… and 131 thousand volunteers to serve them

106 million visitors…and second place in international tourism growth

2.8 trillion riyals, total assets managed by the Public Forms Fund

50% percentage of non-oil activities’ contribution to real gross product

Planting 49 million trees within the Saudi Green Initiative

34% women’s participation rate in the labor market

With steady steps towards a bright and prosperous future, the Kingdom’s Vision 2030, in its eighth year, is moving forward, illuminating a new path in which the nation and the citizen will grow, and contributing to providing opportunities for success for future generations, starting from three pillars that are its strengths, the first of which is that the Kingdom is a depth to the worlds. Arab and Islamic, which gave it an authentic cultural status rooted deep in history, and the second pillar is its enormous investment capabilities, which enable it to move towards new economic horizons by developing the economy and diversifying sources of income, relying in this on the energies of its sons and daughters, who represent more than half of the Saudis, in addition to In addition, the Kingdom is considered a hub linking three continents, and one of the most important sea routes in the world passes through it, making it distinguished by its strategic geographical location and global status.

Since the launch of the Kingdom’s Vision 2030 on April 25, 2016, which was developed under the directives of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister – may God protect them – the Kingdom of Saudi Arabia has witnessed an unprecedented historical transformation. A remarkable growth that supports the goal of the vision, which lies in building a prosperous and promising future, by achieving economic growth and improving the quality of life.

The vision represents a journey towards a future full of opportunities for the Kingdom’s ambitious and creative youth, and it is the largest ambitious national plan for change, with which dreams and hopes have turned into a reality of scenes full of achievements and achieving goals.

Coinciding with the eighth year of the launch of the Kingdom’s ambitious vision; The annual report of Saudi Vision 2030 for the year 2023 highlights the performance of the programs to achieve the vision in the year 2023, as 87% of the 1,064 initiatives for the year 2023 are considered complete or on track, while the main performance indicators for 2023 were estimated at 243 indicators, of which 81 were achieved. % of the performance indicators for the third level reached their targets, while 105 indicators exceeded their future targets for the years 2024/2025.

The Kingdom recorded a historic increase in the number of Umrah pilgrims from abroad, reaching 13.56 million Umrah pilgrims, exceeding the 2023 target estimated at 10 million, and compared to the baseline of 6.2 million Umrah pilgrims. The general target of the vision is 30 million Umrah pilgrims, while the number of volunteers to serve the guests of God reached more than 131,000 volunteers, exceeding the year’s target of 110,000 volunteers.

The number of Saudi heritage sites inscribed with UNESCO reached 7 sites, exceeding the year’s target of 6 sites, compared to the baseline of 4 sites, and close to the 2030 target of 8 sites. It was the last of those sites registered on the World Heritage List of the United Nations Educational, Scientific and Cultural Organization (UNESCO). ); “Uruq Bani Ma’arid” Reserve.

In view of the Kingdom’s regional and international standing, and as a result of the unlimited support of the wise leadership – may God support it – the Kingdom won the hosting of the Expo 2030 exhibition in the city of Riyadh, after the world chose it in competition with the cities of Busan in South Korea, and Rome in Italy, as the Kingdom received 119 votes. Represents the majority.

In the field of tourism, the number of visitors to the Kingdom reached 106 million, including 27.4 million international visitors, placing it in second place in terms of the growth rate of international tourists.

In order to achieve the objectives of the Kingdom’s vision; To improve the quality of life, the actual value of the average life expectancy rate reached 78.10 years compared to the estimated baseline of 77.6 years, while the vision target is 80 years, and the percentage of population centers, including peripheral ones, covered by health services exceeded the 2023 target by 96.41%, as the target percentage reached 96%. , compared to the estimated baseline of 84.13%. The visibility index is 99.5%.

Regarding adults who engage in physical activity for 150 minutes per week, their percentage approached the general vision target estimated at 64%, achieving an actual value estimated at 62.3% and exceeding the 2023 target estimated at 51%, and the baseline was estimated at 49%.

The housing sector achieved many numbers aimed at enhancing the availability of housing options for various segments of society, as 66 thousand Saudi families received their homes, and more than 24 thousand housing units were launched until the end of August, and the percentage of citizens owning their homes reached 63.74%, achieving the 2023 target of 63%, compared to a baseline of 47%, and the general vision target is 70%.

More than 96 thousand citizens also benefited from housing support services for housing products, and the total financial support for those eligible for support was estimated at 4.1 billion Saudi riyals, while the percentage of beneficiaries of financial aid who are able to work and are empowered exceeded the general target of 32%, with an actual value of 32.3% compared to the baseline. At 1%, it is separated from the vision target by 6%.

On the economic level, the global classification in terms of the Kingdom’s gross domestic product recorded a value of 2,959 billion Saudi riyals, compared to the baseline of 2,685 billion Saudi riyals, and the target for the year is 3,032 billion Saudi riyals, and the vision target is 6,500 billion Saudi riyals.

The value of the non-oil GDP reached 1,889 billion Saudi riyals, compared to the baseline of 1,519 billion Saudi riyals, and the target for the year is 1,934 billion Saudi riyals, and the general target of the vision is 4,970 billion Saudi riyals, while the private sector’s contribution to the gross domestic product reached 45%, achieving the general target of 45%, compared to the baseline of 40.3%, while the general vision target is 65%.

Small and medium enterprise loans as a percentage of bank loans reached 8.3%, compared to the baseline of 2%, and the target for the year is 8.6%, and the vision target is 20%, while the share of local content in the oil and gas sector reached 63%, compared to the baseline of 37%. Exceeding the general target of 59%, while the general vision target is 75%.

Regarding the total cumulative export value of oil and gas-related industries, it amounted to 605.43 billion Saudi riyals, compared to the baseline of 128.9 billion Saudi riyals, thus exceeding the target for the year of 495.4 billion Saudi riyals, and the vision target reached 2,114 billion Saudi riyals, and the share of local content of Non-oil sector expenditures are 56.8% compared to the baseline of 52%, the target for the year is 59%, and the vision target is 75%.

The military industries witnessed a localization rate of 10.4%, compared to the baseline of 7.7%, exceeding the year’s target of 9%, while the vision target is 50%.

The total assets managed by the Public Investment Fund reached 2.81 trillion Saudi riyals, compared to the baseline of 0.72 trillion Saudi riyals, exceeding the target for the year of 2.7 trillion Saudi riyals, while the vision’s target is estimated at 10 trillion Saudi riyals.

93 companies were established in the Public Investment Fund’s portfolio in 2023, compared to 71 companies in 2022, and the Fund provided 644,000 direct and indirect jobs, compared to 500,000 in 2022.

The share of non-oil exports in the non-oil GDP reached 24.1%, compared to the baseline of 18%, and the target for the year is 36%, and the vision target is 50%, while the unemployment rate among Saudis reached 7.7%, compared to the baseline of 12.3%, exceeding the 2023 target. The target is 8%, while the vision target is 7%.

The percentage of those joining the labor market among graduates of technical and vocational education within 6 months of graduation was 45.8%, compared to the baseline of 13.9%. The target for the year is 46.6%, and the vision target is 65%, while the percentage of those joining the labor market among university graduates within 6 months of Graduation date is 41.2%, compared to the baseline of 13.3%, achieving the year’s target of 41.2%, while the vision target is 75%.

Regarding persons with disabilities who are able to work, their percentage reached 12.6%, compared to the baseline of 7.7%, exceeding the general target of 12.3%, while the vision target is 15%.

Because women are an essential partner with their male brothers in advancing the wheel of national development, the Kingdom’s vision was keen to empower women and provide everything that would ensure that they carry out their developmental role, under the full protection of their rights, and with legislation from the wise leadership – may God support it – that comes as a translation of what was confirmed by the Custodian of the Two Holy Mosques, the King. Salman bin Abdulaziz Al Saud – may God protect him – in his annual speech to the Shura Council, said: “We will continue our efforts to empower Saudi women and raise their participation rates in the public and private sectors.”

As a result of this support and empowerment from the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Highness the Crown Prince – may God protect them – the rate of women’s participation in the labor market reached 34%, compared to the baseline of 22.8%, and the vision target reaches 40%, while the participation rate reached 22.8%. Saudi women in the workforce: 35.5%.

The economic participation and opportunities sub-index reached 0.637, compared to the baseline of 0.33, exceeding the year’s target of 0.592, while the vision target reached 0.736.

The Kingdom was able to record inflation rates among the lowest among the G20 economies, reaching 1.6% in the fourth quarter, compared to 3.1% in the same quarter of 2022. The Kingdom also recorded the highest historical level of the contribution of non-oil activities at 50% of the real GDP. For the year 2023, the GDP growth of non-oil activities reached 4.7% during the year 2023.

The Saudi communications and technology market is the largest and fastest growing in the Middle East and North Africa, with growth reaching 10%, while its contribution to the gross domestic product rose to 3.8%.

Job Saudization expanded to include 14 professions that were nationalized in the logistics sector, and communications and information technology professions recorded a Saudization rate of 65%.

As part of the efforts made to enable employment, the number of jobs in the communications and information technology sector reached 354 thousand jobs, the culture sector included more than 216 thousand employees, while the number of jobs in the tourism sector reached 913 thousand jobs, and more than 49 thousand job opportunities were provided for Saudi social security beneficiaries. .

The indicator of the volume of sales of productive families supported by the Social Development Bank for the year 2023 recorded an increase estimated at more than 15 billion Saudi riyals, exceeding its target estimated at more than 14 billion Saudi riyals.

In the health field, and within the framework of enhancing and raising the efficiency of health services to facilitate the beneficiaries’ experience, more than 30 million beneficiaries benefited from the “Sihati” application, and the “Doctor for Every Family” service was launched to provide health, preventive and curative care, where 20 million beneficiaries were linked to a medical team for each family. The Nafis platform was launched, and more than 14 million beneficiaries benefited from it.

To enhance the creation of an attractive investment environment; The Kingdom has developed 50 industrial investment opportunities worth more than 96 billion Saudi riyals, and the percentage of foreign and joint investments in the industrial sector reached 37% of the sector’s total investments until May 2023, and its value amounted to more than 542 billion Saudi riyals. More than 200 international companies have also transferred, Its regional headquarters are located in the capital, Riyadh.

Non-oil government revenues amounted to 457 billion Saudi riyals, compared to the baseline of 166 billion Saudi riyals, while the vision target is 1,000 billion Saudi riyals, and these revenues contributed to covering

35% of the total budget expenditures for the year 2023, estimated at 1,293 billion Saudi riyals.

The Kingdom ranked 31st in terms of its ranking in the United Nations e-Government Development Index, compared to the baseline in which the Kingdom ranked 36th, while the general target of the vision was ranked 5th.

The Kingdom ranked 17th globally among the 64 most competitive countries, 2nd place globally in the cybersecurity index, 3rd place among the G20 countries in terms of overall performance, 3rd place among the G20 countries, 5th place globally in the financial market index, and 3rd place among the G20 countries in terms of overall performance. 6th in the economic performance axis, 11th in the world in the government efficiency axis, 13th in the world in business efficiency, and 34th in the world in infrastructure.

In the logistics sector, the Kingdom achieved 17th place in the logistics index issued by the World Bank, and eighth in the (LLOYD’S) global classification. It also achieved progress in the international air connectivity index, ranking 13th.

To enhance the culture of volunteering and spread it among all of society, the vision has set targets to increase the number of volunteers in pursuit of achieving the charitable goal, as the number of volunteers reached 834,000 volunteers, compared to the baseline of 22.9 thousand volunteers, exceeding the target for the year of 670,000 volunteers, and the vision’s target reaches one million volunteers. While the percentage of major companies that provide social responsibility programs reached 64.8%, compared to the baseline of 30%, exceeding the general target of 57%, and the vision target of 90%.

2023 witnessed the recording of more than 53 million volunteer hours through the National Volunteer Work Platform, provided more than 528,000 volunteer opportunities, and included more than a million volunteers registered on the platform, who contributed to more than 30 volunteer fields.

The non-profit sector contributed to the GDP by 0.87%, compared to the baseline of 0.2%, exceeding the target for the year of 0.51%, and the vision target is 5%.

The percentage of workers in the non-profit sector out of the total workforce reached 0.55%, compared to the baseline of 0.13%, exceeding the target for the year of 0.39%, and the vision target of 3.1%.

In the environmental field and to combat climate change issues, and within the Saudi Green Initiative, the Kingdom has achieved tangible progress in its sustainable environmental initiatives. To be a successful start towards a green era and a more sustainable tomorrow. These efforts include planting more than 49 million trees in various regions of the Kingdom, and more than 3 million wild seedlings, and rehabilitating more than 975 hectares of agricultural terraces in the southwest of the Kingdom, equipped with rainwater harvesting techniques. The index of the area of rehabilitated vegetation cover recorded 192.4 thousand hectares, exceeding the year’s target of 69 thousand hectares, and 1,660 endangered animals were resettled, in addition to the fact that the Kingdom witnessed the birth of 7 Arabian leopard cubs, and 18.1% of the wild areas became nature reserves. And 6.49% of marine areas have become nature reserves.

And for the Kingdom’s contribution to reducing carbon emissions; Commercial quantities of clean ammonia were exported to Japan, South Korea, China, Thailand, and Europe; To generate energy as part of projects in these countries. In 2020, 40 tons of blue ammonia were shipped to Japan, in the first integrated value chain, and in 2021 a contract was signed to install a water desalination plant with a capacity of more than 2 gigawatts for the “Air Products” company in NEOM. While in 2022, the Kingdom and South Korea signed preliminary agreements to develop green hydrogen, and by 2030 the Kingdom aspires to be the largest hydrogen provider in the world by achieving an annual goal of 4 million tons.

2,800 gigawatts of renewable energy were connected to the national electricity grid, enough to supply electricity to 520,000 homes.

The Kingdom’s Vision 2030 is moving forward in achieving achievements after achievements, under the direct follow-up, directives and supervision of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud – may God protect him -, as the government effectiveness index reached 70.8 degrees for the year 2023, compared to the baseline of 63 degrees, and exceeding Thus, the general target is 60.7 degrees, while the vision target is 91.5 degrees.

There is no doubt that these achievements in the eighth year of the vision would not have been achieved without the grace of God Almighty, and then the directives and diligent follow-up by the wise leadership – may God support it -; Which comes as a translation of what His Highness the Crown Prince – may God protect him – said: “We have called this vision (Vision of the Kingdom of Saudi Arabia 2030), but we will not wait until then. Rather, we will begin immediately implementing everything we have committed ourselves to, and with you and in you will be the Kingdom of Arabia.” Saudi Arabia is a great country that we are all proud of – God willing -.”

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