“Embracing the road to development is the only viable way ahead for nations like Saudi Arabia, as demonstrated by the kingdom’s unwavering commitment to transformation.”
Saudi Arabia is on an ambitious path of transformation with the National Transformation Program (NTP) and the Saudi Vision 2030 programs. Aligned with the United Nations Sustainable Development Goals (SDGs) and the G20 goals, Saudi Vision 2030 aims to create a promising future for the country. This forward-thinking blueprint for progress has made a significant difference for the Saudi people and the world.
Unlike historical American foreign policy approaches that often prioritized economic and political interests, Saudi Arabia’s focus is on development and progress. In contrast, the United States has at times disregarded global peace in favor of sustaining its economic might. President Dwight D. Eisenhower, in his farewell address, warned about the dangers of the military-industrial complex and emphasized the need to prioritize essential needs over armaments. This sentiment contrasts sharply with the developmental aspirations seen in Saudi Arabia today.
“Saudi Arabia’s Vision 2030 is an inspiring blueprint for progress, prioritizing human development and sustainable growth to create a vibrant society, thriving economy, and ambitious nation – a shining example of genuine transformation for the Arab world and beyond.”
Introduced in April 2016, Saudi Vision 2030 aims to transform the country into a vibrant society, thriving economy, and ambitious nation. This plan emphasizes human development and sets a path towards a brighter future. While any program to transform a nation will face challenges, difficulties, obstacles, and risks, the will and positive results often support the transformation and overcome the hurdles. The kingdom’s finances may face pressure due to delays and scale backs, but history has shown that such challenges are part of the transformation process.
After years of careful study and authoring a book on Saudi transformation, it is evident that the quest for development is deeply institutionalized. With sustainable development goals at the forefront, Saudi Arabia is on an irreversible path forward, setting a progressive example for the Arab world. Embracing the road to development is the only viable way ahead for these nations, as demonstrated by the kingdom’s unwavering commitment.
When Saudi Vision 2030 was first introduced, many were shocked at the scale of the projects and the cost involved. However, six years later, it is clear that some projects have been scaled down and the implementation period extended. While there may be some belt-tightening in the coming years, the outcome will undoubtedly be spectacular.
Despite experiencing significant economic strain, Saudi Vision 2030 remains on track. The kingdom has faced budget deficits for six consecutive quarters and has become the largest issuer of international debt among emerging markets. This financial pressure has been further exacerbated by the decision to cut oil production, which has not resulted in the expected increase in export revenues. However, experts believe that the kingdom has the flexibility to modify or delay investments in its colossal Giga-projects to manage the financial stress.
It is essential to understand that the current financial challenges are for the greater good. In the past, Saudi cooperation with American interests has often come at significant sacrifices for the kingdom. Despite providing geopolitical support and backing wars and conflicts that served U.S. interests, Saudi Arabia did not always see reciprocal benefits. The strained relations, highlighted by the activation of the Justice Against Sponsors of Terrorism Act (JASTA) and the NOPEC law, underscore the complexities and one-sided nature of this alliance.
Furthermore, Saudi Arabia’s commitment to attracting Foreign Direct Investment (FDI) aligns with its pursuit of sustainable development goals and regional stability. Although the kingdom’s budget may continue to experience deficits, domestic giants like the Public Investment Fund (PIF) and Saudi Aramco are expected to bear a significant portion of the financial burden associated with the visionary projects. Despite financial hurdles, Saudi Arabia’s path toward development has inspired other nations in the region to pursue genuine development rather than mere political rhetoric.
To confront the challenges ahead, it is crucial for nations to work together and encourage the spread of inspiration for genuine development. Saudi Arabia’s transformation journey is one of uncertainty and sustainability, and it serves as a beacon of hope for a better future in the Arab world and beyond.
About: Turki Faisal Al Rasheed
Author of “Saudi Arabia’s Transformation: Uncertainty and Sustainability” is an insightful exploration of Saudi Arabia’s ongoing societal evolution under Vision 2030. Authored by an esteemed expert, the book delves into the contextual factors that have shaped the country’s remarkable transformation, offering valuable insights and lessons for future social change initiatives. With its comprehensive analysis and forward-thinking strategies tailored to the unique Saudi Arabian context, this book is an essential read for anyone interested in understanding the future trajectory of the country. Published by Routledge under the UCLA Center for Middle East Development (CMED) book series, it promises to be a thought-provoking addition to the field.
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