Saudi Arabia is Halfway Towards accomplishing its Vision 2030
A significant milestone in its journey towards economic diversification and sustainable growth
2 min
Saudi Arabia’s Minister of Economy and Planning, Faisal Al-Ibrahim, announced that the Country has reached the halfway point in its journey towards Vision 2030 and will continue advancing the initiatives started seven years ago.
“The growth of non-oil activities remains strong, as non-oil activity constitutes 51 percent of the real gross domestic product,” the minister said while attending a dialogue session titled “What do we expect from future growth,” in the Chinese city of Dalian. The session was held within the annual meeting of the New Champions Dalian 2024, an initiative of the World Economic Forum.
In his speech, Al-Ibrahim highlighted the rapid expansion of non-oil sectors in the Kingdom since the Vision 2030 launch. “The Kingdom has achieved the fastest economic growth rate for the year 2022 at 8.7 percent, and non-oil activities achieved 5.6 percent. Even today, the growth of non-oil activities remains strong, as non-oil activity constitutes 51 percent of the real gross domestic product (GDP), and the Kingdom’s non-oil economy is larger than its oil economy.”
Speaking on the success of Vision 2030, the minister remarked: “We have now passed halfway in the journey to achieve the Vision, during which many achievements have been made and we have priorities that are accelerating the pace of economic diversification and enhancing the outcomes of human capital development. So, we now stand on the threshold of a new economic era that will witness exciting transformations over the coming decades.”
Al-Ibrahim emphasized Saudi Arabia’s crucial role in energy security and climate action, being a leading producer of the cleanest hydrocarbon energy. The Kingdom is also at the forefront of renewable energy, including green hydrogen, solar energy, wind energy, and other sources.
The minister underscored the importance of developing a comprehensive and integrated approach to address global economic challenges. He noted that through international cooperation, innovation, and inclusive solutions, the international community can effectively tackle these challenges and mitigate their impact.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Ensuring comprehensive health care and fostering innovation and job growth within the health sector.
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The Council of Health Insurance and the Saudi Insurance Authority began implementing this decision, requiring employers to provide insurance for domestic workers if their number exceeds four.
The general requirements for applying benefits and coverage under the policy include submitting a medical disclosure form, obtaining approval from the health insurance company, and insuring all workers.
This mandatory health insurance initiative is part of the Council of Health Insurance and the Insurance Authority‘s efforts to ensure comprehensive care, prevention, justice, transparency, and excellence in performance for all stakeholders.
The decision aims to achieve comprehensive health care, sustain health coverage, and encourage health insurance companies and healthcare providers to develop new products and create job opportunities in medical and non-medical specialties.
Iman Al-Tariqi, the official spokesperson of the Council of Health Insurance, explained that the domestic workers’ insurance policy covers primary care, public health, emergency cases, hospitalization without a deductible, emergency treatments for clinics with unlimited visits, vaccinations, and examinations.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
