Vision 2030

Saudi minister says 1000 companies have been established in the entertainment sector

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The Saudi Minister of Tourism and Head of the Quality of Life Program within the Saudi Vision 2030, Ahmed al-Khatib, said that its aimed is to “improve the lifestyle in the Kingdom’s cities” by raising the attractiveness of living in cities, by focusing on sports, entertainment and tourism facilities.

He was speaking during a dialog session held with 4 ministers responsible for the vision programs on Saturday evening with the media, on the 5-year passage of Saudi Vision 2030, which constituted a new era in economic construction.

Al-Khatib stated that the program the Quality of Life Program within the Saudi Vision 2030 has a budget of more than 60 billion riyals ($16 billion), and 17 different sectors are linked to it.

Al-Khatib added that Saudi Arabia will host many sporting events, such as the Spanish and Italian Super, Dakar Rally, Formula E and others.

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The minister added that he is optimistic about the resumption of activities after handling the coronavirus pandemic.

He added that the vision and its programs contributed to paving the way for the establishment of 1000 small and medium companies in the entertainment sector in the Kingdom.

Al-Khatib discussed the launch of the tourist visa, adding that the Kingdom has issued 450 thousand visas for visitors from outside Saudi Arabia within 3 months before the on-set of the coronavirus pandemic.

The session was attended by Minister of Health Tawfiq al-Rabiah, Minister of Finance Muhammad al-Jadaan, and Adviser at the Royal Court, Muhammad al-Tuwaijri.

Vision 2030

The Saudi Council of Economic and Development Affairs recently reviewed what had been achieved so far by the Kingdom’s Vision 2030 five years after its launch, which focused on: establishing and enabling infrastructure; building institutional and legislative structures; setting public policies, and enabling initiatives, while announcing that the focus of the next phase is to follow up implementation, advance achievements, and further enhance citizen and private sector participation.

Since the launch of Saudi Vision 2030, the rate of foreign investment flows outside the Kingdom had decreased by 58 percent since 2015, while foreign direct investment flows into Saudi Arabia had grown to reach 17.625 billion riyals, an increase of 331 percent from 5.321 billion riyals before the launch of the vision. These initiatives also included the launch of projects that contribute to the welfare of society, providing jobs and attracting international investments, prominently NEOM, Qiddiya, the Red Sea projects, and others.

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