Vision 2030 enters the execution phase
By Anas Alyusuf
JEDDAH – Five years after Crown Prince Muhammad Bin Salman launched Saudi Vision 2030, the current year of 2021 has seen a practical movement on the ground for the execution of Vision projects.
The design phases of the projects have been completed, in addition to strategy development and mapping of technical details and design visions, in particular the pillars of the Vision, before entering the implementation phase.
Mega Vision projects which, when completed, should constitute a unique global model for sustainability, environmental protection, nature conservation, quality of life and job creation.
Despite the repercussions of the coronavirus pandemic and its effects which have mainly impacted the global stage, Saudi Arabia continues to announce the executive programs of the megaprojects.
Since the start of 2021, the Crown Prince has launched a number of pivotal projects, including the announcement of THE LINE, the Cleanest and Smarter City, which is a world-class model of future cities; the launch of the island designs of the “Red Sea” project; and the new AlUla development program entitled “A journey through time”.
In addition, the year saw the launch of the SR 11 billion Souda development project; opening of the first “alternative energy” projects in Sakaka; the announcement of the “Riyadh Strategy” and the Strategy of the Public Investment Fund as well as the launch of a historic public-private partnership called “Shareek”.
As these projects and programs are expected to generate more than 1.6 million jobs at the minimum level, recent major initiatives clearly prove the merit and seriousness of the Saudi approach to carry out Vision projects and achieve its objectives unhindered by no circumstances.
The Vision 2030 of the Kingdom has succeeded in creating large economic sectors that will stimulate the gross domestic product of the country, the main one of which is the shift to tourism where there has been a system with the establishment of specialized governmental and financial agencies for the tourism sector, and has worked to integrate it into Vision’s major projects.
One of the most important goals of the Kingdom Vision is the quality of life program and the increase in home ownership by Saudis. Recent statistics reveal that hundreds of thousands of Saudi Arabian families have benefited from homeownership financing programs.
The Saudi Vision 2030 projects, which represent the main pillars of development, had a start-up effect at the execution level at the end of the planning and development phases of the developed strategy.
The current year can be described as the year of execution and the start of construction for projects classified as the most important of their kind in the world.
These projects should constitute an exemplary international model in terms of quality, respect for the environment, sustainability and the use of renewable and alternative energies.
By going through the details of these projects, we can see that they are the pillars of the Vision.
At the start of 2021, specifically on January 10, Crown Prince Muhammad Bin Salman, Chairman of the Board of Directors of NEOM, announced the THE LINE project, which is presented as a cornerstone of Saudi Vision 2030 and a economic engine for the Kingdom.
THE LINE is a huge new zero carbon city at NEOM, a megaproject and a key pillar of Vision 2030. THE LINE, which will house a million people and have no cars or streets, has brought the Kingdom to life. vanguard of countries which pursue the creation of modern cities.
It would be bringing about a revolution in city life at NEOM, and a plan for how people and the planet can coexist in harmony.
THE LINE represents an iconic eco-responsible urban city without carbon emissions and a model of what humanity aspires to preserve the planet, in line with the data of quality of life and activation of technical energy and artificial intelligence.
Announcing the project, the Crown Prince explained that the launch of “THE LINE” at this precise moment is the result of preparations and planning over the past three years.
He stressed that the project, which begins its development in the first quarter of 2021, is an important part of the intensive development work underway within NEOM. It will also be technically integrated into all city systems.
According to the latest official data, THE LINE will be the cleanest city in the world. The International Union for the Conservation of Nature has defined that NEOM will have the largest urban nature reserve covering 95 percent of its land and sea.
THE LINE will also work to achieve the goals of economic diversification by providing 380,000 job opportunities and helping to add SR 180 billion ($ 48 billion) to GDP by 2030.
Before the euphoria over the announcement of THE LINE’s launch subsided, the Crown Prince made another big announcement at the end of January, unveiling strategic elements for the development of the city of Riyadh, which will transform the Saudi capital. in one of the ten largest urban economies in the world.
He stressed that this is part of plans to diversify sources of income and develop the country’s economy, with world economies being city-based.
Crown Prince Muhammad, during his participation in the fourth session of the Future Investment Initiative, said that the details of the strategy will be announced soon, while stressing that it aims with a hypothesis to reach the population of Riyadh between 15 and 20 million inhabitants in 2030., and that it will also host the largest industrial city in the world.
According to Eng. Fahd Al-Rasheed, head of the Royal Commission for Riyadh, the strategy will contain nearly 100 initiatives and projects. He revealed that the volume of government investments, represented by the Royal Commission, the Public Investment Fund and other investment branches, amounted to $ 220 billion.
Along with the announcement of Riyadh’s strategy, the government made public the decision to end government contracts with foreign companies that do not have their main regional headquarters in Riyadh.
Eventually, up to 24 global companies are racing against the clock to strike deals to establish their main regional offices in the Saudi capital, in a step described as helping to double the size of the economy and make giant strides. in job creation and investment expansion. .
On February 10, Crown Prince Muhammad, who is also chairman of the board of directors of “The Red Sea Development Company” (TRSDC), launched the design of the “Coral Bloom”, a luxury project in the Red Sea on the main island. by Shurayrah.
The project is designed by a British architectural firm Foster + Partners, to blend in with the pristine natural environment of the island. The dolphin-shaped island of Shurayrah, which is one of the 90 islands covered by the project, will host “Coral Bloom” and serve as the central island for the project.
Commenting on the project, John Pagano, CEO of TRSDC, said that Coral Bloom’s designs are inspired by the incredible flora and fauna found only in Saudi Arabia. There will be 11 hotels on Shurayrah.
The 11 resorts and hotels on Shurayrah Island are to be operated by a number of the world’s most famous hotel brands, while the project, when completed in 2030, will target one million visitors per year. Construction of the new international airport has started, the first phase of which will be completed in 2022.
According to the latest information received from the company, the Red Sea project has reached significant milestones in construction work, and work is progressing to receive customers early next year with the opening of the international airport. and the first hotels.
The employee residential city is expected to accommodate the employees in the second quarter of 2021, along with the staff area by the end of this year.
Saudi Arabia continued its movement on the ground last month as the Crown Prince launched an ambitious and dynamic program to strengthen the government-private sector partnership called Shareek or partner, and accelerate the achievement of strategic goals. increase the resilience of the economy and support prosperity and sustainable growth.
He said the program, which will run until 2030, aims to solidify the Kingdom’s reputation as a sustainable, ambitious and prosperous global economic power.
In his speech, the Crown Prince said: “We are ushering in a new and more powerful era in terms of cooperation and partnership between the government and the private sector, by announcing a program to strengthen the partnership with the private sector (partner), in the goal of supporting local businesses and enabling them to reach a local investment volume of up to SR 5 trillion ($ 1.3 trillion) by the end of 2030.
According to the Crown Prince, the total of what Saudi Arabia will spend over the next ten years will be SR 27 trillion ($ 7 trillion), as the coming years will see an increase in investment of SR 3 trillion by through the Public Investment Fund until 2030, in addition to SR 4 trillion that will be pumped under the aegis of the national investment strategy, bringing the total investment to be injected into the national economy SR 12 trillion until 2030.
This is in addition to government spending estimated at SR 10 trillion ($ 2.6 trillion) in addition to private consumption spending which is expected to reach SR 5 trillion through 2030.