saudi vision 2030

Funding, Regulation Challenge Saudi Private Sector Drive

By Andrew Torchia and Marwa Rashad JEDDAH, Saudi Arabia, June 16 – After decades of government-led growth, Saudi Arabia is handing over much of the responsibility for the economy to private firms – a prospect which both pleases and worries businessmen, who wonder how they can finance new projects in an age of austerity. As more

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Saudi Arabia: Quietly Does It

The Saudi transformation few are paying attention to BY Fahad Nazer Media coverage of Saudi Arabia over the past year has largely focused on its new, more assertive foreign policy, as demonstrated by its military campaign in Yemen. More recently, a blueprint for economic reform known as “Vision 2030” aimed at reducing the country’s dependence on

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IMF Backs Saudi Economic Plan for “Appropriately Bold” Transformation

By Andrew Torchia DUBAI, May 19  – The International Monetary Fund backed Saudi Arabia’s sweeping economic reform plan on Thursday and said the kingdom was cutting spending at the right speed to cope with a huge state budget deficit caused by low oil prices. Late last month, Deputy Crown Prince Mohammed bin Salman announced steps

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Saudi Arabia’s Oil Guards

By Ahmad Khatib When he was appointed Minister of Health in 2015, Khalid Al Falih was widely regarded as the understudy for the then Minister of Petroleum and Mineral Resources, Ali Al Naimi.  In addition to joining the Saudi cabinet, Falih, had also replaced Naimi as Chairman of Saudi Arabia’s oil giant, Aramco, promoted from

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Managing Saudi’s New Energy Mega-Ministry May Bring Challenges

By Angus McDowall , Rania El Gamal and Reem Shamseddine RIYADH, May 9 – Managing Saudi Arabia’s new energy mega-ministry, set to oversee over half the economy and designed to cut through a tangled bureaucracy to make government more coherent and efficient, will be a formidable challenge. The new Energy, Industry and Mineral Resources Ministry, under

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Saudi Prince Unveils Sweeping Plans to End “Addiction” To Oil

By Samia Nakhoul, William Maclean and Marwa Rashad RIYADH, April 25  – The powerful young prince overseeing Saudi Arabia’s economy unveiled ambitious plans on Monday aimed at ending the kingdom’s “addiction” to oil and transforming it into a global investment power. Deputy Crown Prince Mohammed bin Salman said Riyadh would raise the capital of its

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Saudis Await Prince’s Vision of Future with Hope and Concern

By Marwa Rashad RIYADH, April 24 – Saudi Arabians are anticipating with hope, doubt and worry the release this week of a government plan to liberate the kingdom from its reliance on oil, which could solve deep-rooted problems but bring economic pain. Deputy Crown Prince Mohammed bin Salman, the 30-year-old son of King Salman, is

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