What is the Saudi Vision 2030 Initiative?

A Vibrant Society. A Thriving Economy. An Ambitious Nation.

These are the three tenets that defined the Saudi Vision 2030. But what do they mean on a more practical level?

By restructuring and re-allocation of funds, new investments will go toward the younger tech-savvy generation, giving them the opportunities required for them to become thought leaders in multiple fields within the Cybersecurity sectors.

Other industries that will be restructured within Saudi Arabia include Tourism and Defence, with the main goal of moving the economy away from being dependant on oil.

To foster a vibrant society, the Public Investment Fund (PIF) and the government of Saudi Arabia will focus on its people and the Islamic faith. The number of Umrah visitors will be raised from eight million to 30 million annually; establishing the largest Islamic museum in the world, doubling the number of Saudi heritage sites registered with UNESCO, promoting cultural and entertainment opportunities, encouraging healthier lifestyles, and developing Saudi cities so that at least three are recognized as being in the top 100-ranked cities in the world.

To bolster the economy, there will be more diversity added to the ongoing privatization of state-owned assets, including the establishment of a sovereign wealth fund that will be financed through the partial IPO of Saudi Aramco. The country will focus on manufacturing renewable energy and reinvigorating its existing tourism industry, with grand projects of architectural feats to make Saudi Arabia stand out on the world stage.

With closer regard to security, as a means of becoming a more ambitious nation, Saudi Arabia will focus on the accountability of individuals within its defence industry, establishing a zero tolerance policy for corruption at all levels; boosting transparency for online business and interactions and finally improving governing standards.

As the Saudi Vision 2030 becomes closer and closer to reality, it means more investment into businesses of all sizes, across multiple sectors, with a demand for more transparent business dealings and more innovative products. As giga-projects take centre stage, there is equally a demand for homeland security, simultaneously, as the world becomes increasingly tuned into the internet, there is greater and greater demand for Cybersecurity, which will be a focus of many educational courses taking place within new Universities in Saudi Arabia.

One of the many goals of the Security Middle East Conference, will be to discuss how businesses of all sizes can integrate themselves into the Saudi Vision 2030 Initiative. We’ll be discussing the growing importance of Smart Cities, the way in which companies can assist and make use of the young talent within Saudi Arabia, and will also be discussing how to operate within the fast-paced Cybersecurity sector, currently sweeping its way through Saudi Arabia’s industry.