Saudi Arabia has been committed to diversifying its economy and reducing its dependence on oil for many years. In 2016, the country launched its ambitious ‘Vision 2030’, a comprehensive plan outlining its aspirations for the future. ‘Vision 2030’ revolves around three pillars, a vibrant society, a flourishing economy, and an ambitious nation.
The first pillar, a vibrant society, aims to ensure that every citizen enjoys a fulfilling lifestyle with access to world-class healthcare and education while promoting national identity, cultural heritage, and moderation based on Islamic principles.
The second pillar focuses on building a thriving economy by aligning the education system with market needs, equipping young people with the necessary skills for the future, and creating opportunities for businesses, both small and large, to hire young talent.
The third pillar, an ambitious nation, aims to establish an effective, transparent, accountable, and high-performing government at all levels. A capable governance method is crucial for achieving the goals outlined in ‘Vision 2030’.
To achieve these ambitious goals, the Kingdom has implemented various economic reforms to support the private sector and enhance services for individuals and businesses. The plan seeks to make domestic private companies the primary drivers of this growth and diversification journey. To facilitate this, the government has launched programs and established funds, incubators, and accelerators to foster an ecosystem of innovative start-ups.
As part of its efforts to become one of the most technologically advanced economies in the world, Saudi Arabia has set a target of investing 2.5% of its GDP in research, development, and innovation by 2040. The country also expects a USD 16 billion return on its existing investments in research and innovation by 2030.
Several initiatives have been launched to realize this technological advancement. Notably, the ‘Saudi Vision Cable’, owned by the Saudi Telecommunication Company (STC), will be the first high-capacity submarine cable in the Red Sea. This cable will provide digital connectivity services to individuals and corporations in Saudi Arabia and other continents, fostering a regional digital hub.
Moreover, Saudi Arabia has prioritized investment in artificial intelligence (AI) and established the Saudi Data and AI Authority (SDAIA) to drive AI initiatives. The SDAIA has implemented data-sharing services and integrated government systems to create a national data catalogue. To develop local talent, the SDAIA has launched initiatives like the Sawaher Bootcamp, which offers intensive training in AI-driven surveillance systems, and the Neom Challenge, which encourages students to propose AI solutions for the Neom Smart City.
The government has also emphasized the importance of a data-driven economy by launching an open data program to enhance collaboration and enable better data governance and regulatory clarity.
In the healthcare sector, technology plays a critical role in fulfilling the objectives of ‘Vision 2030’. The digital transformation of emergency care services has led to 90% of patients receiving care within four hours of arrival at healthcare facilities. Implementing a Drug Track and Trace system has improved drug safety by tracking and verifying all medicinal drugs manufactured or imported into the Kingdom. Patient-centric apps such as the ‘Sehha’ and ‘Mawid App’ have also been developed to provide remote care and facilitate appointment scheduling at primary healthcare centres.
The progress made by Saudi Arabia toward ‘Vision 2030’, particularly in terms of technological advancements, is evident. The United Nations’ International Telecommunication Union recognized the country’s readiness for digital systems, ranking the Kingdom fourth globally in this area.
With seven years remaining until the target year of 2030, Saudi Arabia continues to make significant strides toward realizing the goals of its ambitious diversification roadmap, transforming its economy, fostering innovation, and improving the lives of its citizens.