Saudi Economy Heads Towards New Stage to Face Global Changes

Saudi Economy Heads Towards New Stage to Face Global Changes

Following Custodian of the Two Holy Mosques King Salman bin Abdulaziz’s announcement of the start of the second phase of the Kingdom’s Vision 2030, experts told Asharq Al-Awsat that the coming period would witness great development leaps in all sectors.

According to the experts, the Saudi economy has proven its strength during the coronavirus pandemic, which has cast a shadow over all developed countries.

They noted in this regard that the Kingdom continued to provide initiatives to ease the burdens on the national economy and the private sector in particular.

On Wednesday, King Salman inaugurated the works of the second year of the eighth session of the Saudi Shura Council, pointing to the start of the second phase of the Saudi Vision 2030, which seeks to create a solid and diversified economy that faces global changes.

King Salman stressed that the national investment strategy launched by Crown Prince Mohammed bin Salman on Oct. 11 was one of the important tributaries to achieve the objectives of the Kingdom’s Vision. He added that investments exceeding 12 trillion riyals (USD 3.2 trillion) would be pumped into the local economy until 2030.

In this regard, Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail stated that King Salman's