Council of Economic Affairs unveils features of next phase to achieve Vision 2030

Crown Prince Mohammed bin Salman

Saudi Arabia’s Council of Economic and Development Affairs (CEDA), headed by Crown Prince Mohammed bin Salman, revealed the features of the upcoming phase for achieving Vision 2030.

The council made several recommendations to move to the next phase of the process of achieving Vision 2030, which was launched at the beginning of 2021 and will continue till 2025.

It indicated that it is a stage of advancing achievement and maintaining the momentum required to continue reforms.

The recommendations included development updates on vision programs to ensure consistency with goals, raise spending efficiency and respond to economic developments.

These updates are made up of three main themes, as follows:

First: Restructuring some of the current programs and establishing others to keep pace with the requirements of the next phase, such as the Health Sector Transformation program, which aims to restructure the healthcare sector, to be a comprehensive system to achieve the vision goals.

Second: Focuses on giving flexibility to the implementation schedules of some programs, determining priorities in initiatives implementation, and enabling legislative policy changes.

Third: Transfer the initiatives of “National Character Enrichment”, “National Companies Promotion” and “Strategic Partnerships” to programs and their associated entities, after the initiatives have achieved the majority of their objectives in the first five years, and maintaining their independence in the next phase is no longer required.

CEDA pointed out that the upcoming phase of the Vision 2030 is characterized by continued development of promising and new sectors, and accelerating achievements in the implementation of vision programs to contribute to the promotion of economic growth.

The phase is also characterized by support for local content, to increase its contribution to economic development in the Kingdom, facilitate business environment, as well as strengthen the role of citizens and the private sector in achieving the vision, by further empowering skill recruitment and investing in potential for greater success and progress.