Al-Riyadh

Crown Prince Muhammad Bin Salman has ushered in a new economic phase with seemingly never-ending changes. Saudi Vision 2030 will transform the Kingdom so that it can face the challenges of the future. Saudi Arabia must become stronger and more flexible to face those challenges.

The Crown Prince recently inaugurated a National Industrial Development and Logistics Program (NIDLP). The Minister of Energy Khalid Al-Falih said that the program includes four sectors (production, mining, logistic services and energy) and will contribute SR1.2 trillion to the Gross Domestic Product. It will attract investment worth SR1.7 trillion, will increase non-oil exports to more than a trillion riyals, and will generate 1.6 million job opportunities.

This is one of the largest industrial development programs in the Kingdom and it will generate investment opportunities and jobs and develop the Kingdom’s infrastructure. Some 65 investment opportunities have already been offered to the private sector with revenue that could reach SR80 billion in value.

It should be noted that oil and petrochemicals are not even part of the discussion as the NIDLP deals with four other sectors. The Crown Prince previously inaugurated other giant projects, such as NEOM, Red Sea, Down Town Jeddah and Al-Qiddiya.

Saudi Arabia is now looking forward to a new era with a diversified economy that generates investment and job opportunities. We are in a race against time to achieve the goals and vision under the leadership of the Crown Prince and the youth of this country.

Twitter: @r_alfowzan