Crown Prince Mohammed bin Salman has said that an investment of 6 6 trillion is expected, industries other than oil are also generating huge revenues, women have been empowered, further reforms will be implemented in the next two years.
Riyadh (Nexhnews Latest 14 January 2021) Saudi Arabia’s economy has been dependent on the oil industry for decades, but the current Crown Prince Muhammad bin Salman, realizing the requirements of the next era, has formulated Saudi Vision 2030 under which Saudi Arabia’s dependence on oil is being reduced by developing other sectors. In this regard, he said that Saudi Arabia has ??? 6 trillion in investment opportunities over the next ten years, of which ??? 3 trillion will be invested in new projects under the 2030 reform program.
The Saudi Crown Prince made the remarks while addressing an online strategic dialogue on Wednesday as part of the activities of the World Economic Forum. According to Al-Arabiya News, Prince Mohammed bin Salman said that Saudi Arabia will use the country’s energy under Vision 2030, which has not been used so far.
New sectors will be established. “Eighty-five percent of the funding for this major economic program will come from public investment funds and the private sector,” he said. ?
“Saudi Arabia is committed to achieving a leading position in the fields of renewable energy, the Fourth Industrial Revolution, tourism, transport, entertainment and sports,” he said. In this context, investments will be made in these sectors, ”he said. We will look at it with dignity and respect.
During the strategic dialogue, Prince Mohammed bin Salman reviewed the achievements made since the announcement of the Saudi vision and said that the revenue from sources other than oil has increased. Women are empowered in the labor market. The role of competition has increased in the business environment. The role of the Public Investment Fund has been enhanced and the protection of the environment has been greatly improved.
He added that “the formula that Saudi Arabia has put forward for the carbon circular economy has been accepted by the G20.” Mohammed bin Salman said: Accelerated improvements and changes have been made to the program. These reforms will be further enhanced over the next ten years. “2020 was a challenging year and Saudi Arabia was ready for it,” he said.