Saudi Vision 2030: Dream or reality?

Saudi Arabia entered a new phase on Monday, a phase of restructuring its economic and developmental identity. During a press conference attended by Saudi and foreign journalists, the godfather of this major plan, Deputy Crown Prince Mohammad bin Salman, announced its details and answered all the journalists’ questions. The summary of this vision is available online and in the press.

The vision covered three axes: how to produce a vital society, how to develop a flourishing economy, and how to ignite national ambition. The prince thoroughly explained the vision’s details and projects during his interview with Al-Arabiya news channel and the press conference he held.

The projects include listing up to 5 percent of Aramco for an Initial Public Offering (IPO), establishing the biggest investment fund in the world, restructuring the government hierarchy, reviewing regulations and measuring performance. This in addition to the National Transformation Plan, which aims to achieve partnership with the private sector.

Requirements

Some think this vision is ambitious, and doubt Saudi society’s ability to digest it. They also wonder about the reaction of those who may be harmed by these transformations. Prince Mohammad bin Salman said the vision was realistic - the only requirement was work. We must add patience, as the vision will not yield results immediately. It is a transformation plan. It will be bitter for the first few years, but with a little patience Saudi Arabia will progress.

Being clear while explaining the vision is important for Saudis. We are taking a path toward a new national identity founded on continuous development. Even if it looks like a dream, this vision is based on realism and numbers. Following its approval by the Saudi cabinet, the prince said: “We’ve called this… Saudi Vision 2030, but we will not wait until then [to act]… We will immediately begin to execute what we’ve committed ourselves to.”

This article was first published in Asharq al-Awsat on April 27, 2016.

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Saudi journalist Mshari Al Thaydi presents Al Arabiya News Channel’s “views on the news” daily show “Maraya.” He has previously held the position of a managing senior editor for Saudi Arabia & Gulf region at pan-Arab newspaper Asharq al-Awsat. Al Thaydi has published several papers on political Islam and social history of Saudi Arabia. He appears as a guest on several radio and television programs to discuss the ideologies of extremist groups and terrorists.