What is Saudi Vision 2030 around technology?
Saudi Arabia’s Vision 2030 has a clear goal of transforming the Middle Eastern country’s economy from one that is heavily dependent on oil revenues to a more diversified and sustainable economy. To achieve this, the plan focuses on developing key economic sectors such as tourism, manufacturing, and technology. It also aims to increase the private sector’s contribution to the country’s GDP by attracting foreign investment and creating an attractive business environment.
In line with this, the Saudi government has launched several initiatives, including the establishment of the Public Investment Fund (PIF) and the National Industrial Development and Logistics Program (NIDLP). These programs aim to attract foreign investment and support the development of the non-oil sectors.
The Vision 2030 plan also places significant emphasis on improving the quality of life of Saudi citizens. The plan aims to enhance the education and healthcare systems, and promote sports and cultural activities. The plan also seeks to increase female participation in the workforce and promote social inclusion.
To achieve these goals, the Saudi government has launched several initiatives, such as the Quality-of-Life program, which aims to provide better living standards and enhance the cultural and entertainment sector. The government has also implemented several reforms to empower women, including allowing them to drive and increasing their participation in the workforce.
The Vision 2030 plan also recognizes the importance of preserving the environment and promoting sustainable development. The plan aims to reduce the country’s carbon footprint and increase the use of renewable energy sources. It also seeks to preserve the natural heritage and protect the country’s biodiversity.
To achieve these goals, the Saudi government has launched several initiatives, including the National Renewable Energy Program (NREP) and the Saudi Green Initiative. The NREP aims to increase the country’s renewable energy capacity to 27.3 GW by 2024 and 58.7 GW by 2030. The Saudi Green Initiative aims to plant 10 billion trees and reduce carbon emissions by 60% in the country and the region.
While the Vision 2030 plan presents significant opportunities for the country’s economic and social development, it also faces several challenges. The country’s dependence on oil revenues, for instance, poses a significant risk to the success of the plan, as global oil prices remain volatile. Additionally, the plan requires significant investment, and the government must navigate a challenging economic landscape to finance its ambitious projects.
Saudi Arabia’s Vision 2030 plan is a comprehensive and ambitious blueprint that aims to transform the country’s economy, society, and environment. The plan presents significant opportunities for the country’s development but also faces several challenges that require careful consideration and strategic planning. If successfully implemented, the plan has the potential to transform Saudi Arabia into a thriving and prosperous society.
NEOM
NEOM is a major initiative of Saudi Vision 2030 and one of the country’s largest Giga projects. The futuristic project calls for the construction of a new sustainable city on a 26,500-square-kilometer plot of deserts, valleys, and mountains.
The smart city will be exclusively powered by renewable energy, including the world’s largest hydrogen plant and 100 percent clean energy generated by wind and solar sources. Furthermore, the city will be equipped with superior characteristics, such as secure 5G hyperconnectivity, purpose-built data centers, innovation and startup-ready ecosystems, and consumer-focused solutions. The NEOM project is currently working on many projects, when put together the entire project reaches an estimated budget of USD 500 billion.
AMAALA
AMAALA has been recognized as one of Saudi Vision 2030’s mega projects, currently, the project is working towards becoming a luxury tourism destination, which is being developed along Saudi Arabia’s Northern Red Sea Coast to curate transformative personal journeys.
The project consists of three major pillars: The Coastal Development, The Triple Bay, and The Island. AMAALA will have six hotels and around 1,000 hotel rooms as part of the first phase of development, which is expected to be completed by 2024. Further development will have approximately 3,000 hotel rooms split over 25 hotels, as well as 200 high-end retail establishments, fine dining, spa, and recreational services, which will be completed in 2027.
Red Sea Global
The Red Sea Project is considered the most ambitious regenerative tourism project in the world.
The project features a diversified mountainous landscape spanning from canyons to volcanoes, as well as an archipelago of pristine islands, with over 28,000 square kilometers of magnificent desert scenery and a diverse mountainous landscape. The project is estimated to add USD 4 billion to the Kingdom’s GDP per year and create up to 35,000 jobs once it is fully operational.
Objectives for Vision 2030:
The main objectives of Vision 2030 are as follows:
Diversify the Economy: The primary objective of Vision 2030 is to diversify the economy of Saudi Arabia and reduce its dependence on oil revenue. The plan aims to create a dynamic and thriving economy that is not solely dependent on oil but rather built on innovation and modern technology.
Enhance the Public Sector: Vision 2030 aims to enhance the quality of public services in Saudi Arabia, including healthcare, education, and transportation.
Develop the Private Sector: The plan aims to develop the private sector by increasing the number of small and medium-sized enterprises and promoting entrepreneurship. It also aims to attract foreign investment and increase the participation of women in the workforce.
Strengthen the Economy: The plan aims to strengthen the Saudi economy by increasing its competitiveness in the global market and by developing new industries.
Promote Cultural and Social Development: Vision 2030 aims to promote cultural and social development by enhancing the Kingdom’s tourism industry and by preserving the country’s cultural heritage.
Actions:
To achieve the objectives of Vision 2030, the Saudi government has taken several actions, including:
Implementation of Economic Reforms: The Saudi government has implemented various economic reforms, including the introduction of VAT, subsidy cuts, and the privatization of various state-owned enterprises.
Development of Non-Oil Industries: The government is promoting the development of non-oil industries, including renewable energy, tourism, and healthcare.
Empowering Women: The plan aims to empower women by increasing their participation in the workforce and by promoting their rights.
Improving Public Services: The government is investing in the improvement of public services, including healthcare, education, and transportation.
Cultural Preservation: The government is promoting the preservation of the country’s cultural heritage and is investing in the development of the tourism industry.
Outcomes:
Since the introduction of Vision 2030, Saudi Arabia has made significant progress in achieving its objectives. Some of the outcomes of Vision 2030 are:
Diversification of the Economy: The Saudi government has made significant progress in diversifying the economy, with the non-oil sector now contributing significantly to the GDP.
Increase in Women’s Employment: The participation of women in the workforce has increased significantly, and several reforms have been introduced to promote women’s rights.
Improved Public Services: The quality of public services, including healthcare and education, has improved significantly.
Attracting Foreign Investment: Saudi Arabia has attracted significant foreign investment, with several international companies setting up operations in the country.
Cultural Preservation: The Saudi government has invested significantly in the preservation of the country’s cultural heritage and has developed its tourism industry.
Technology: The Kingdom of Saudi Arabia has heavily invested in rebranding itself as the new tech giant in the region. Aligning itself with new age trends, the country aims to further enhance its reputation in the tech industry. The country has generated huge investments from foreign tech companies to integrate initiatives such as Web 3.0, Metaverse, and Augmented and Virtual reality into its tech portfolio.
Saudi Arabia’s 2030 Metaverse Vision
Saudi Arabia’s Vision 2030 includes a futuristic vision of creating a “digital paradise” through the development of a Metaverse, a virtual world that combines augmented reality and virtual reality experiences. The Metaverse is expected to have a significant impact on the country’s economy, society, and culture.
The main objectives of Saudi Arabia’s 2030 Metaverse Vision are as follows:
Economic Growth: The development of a Metaverse is expected to create a new industry that can drive economic growth in Saudi Arabia. The Metaverse is expected to generate jobs and attract investment from both local and international sources.
Education: The Metaverse will provide a new platform for education, allowing students to learn in a virtual environment that can be customized to their needs. This will also enable distance learning, which is becoming increasingly important in the age of remote work and education.
Healthcare: The Metaverse is expected to provide a new platform for healthcare, allowing doctors and medical professionals to provide remote consultations and treatment. This will help to improve access to healthcare, particularly in remote areas.
Entertainment: The Metaverse is expected to provide new opportunities for entertainment,
including virtual concerts and events, immersive gaming experiences, and other forms of digital entertainment.
Initiatives:
To achieve the objectives of the 2030 Metaverse vision, Saudi Arabia has taken several Initiatives, including:
Investment in Technology: The Saudi government has invested heavily in technology, including artificial intelligence, augmented reality, and virtual reality, which are key components of the Metaverse.
Partnerships with Technology Companies: The government has established partnerships with several technology companies, including Microsoft and Google, to develop the Metaverse.
Development of Infrastructure: The government is developing the necessary infrastructure, including high-speed internet and data centers, to support the development of the Metaverse.
Investment in Human Capital: The government is investing in the development of human capital, including training programs for developers and content creators, to support the growth of the Metaverse industry.
Outcomes:
The development of the Metaverse is still in its early stages, and it is difficult to predict the full impact it will have on Saudi Arabia’s economy and society. However, some potential outcomes include:
Economic Growth: The development of the Metaverse is expected to create a new industry that can drive economic growth in Saudi Arabia, particularly in the areas of technology and entertainment.
Enhanced Education: The Metaverse is expected to provide a new platform for education, allowing students to learn in a virtual environment that can be customized to their needs.
Improved Healthcare: The Metaverse is expected to provide a new platform for healthcare, enabling remote consultations and treatment, which could help improve access to healthcare, particularly in remote areas.
New Forms of Entertainment: The Metaverse is expected to provide new opportunities for entertainment, including virtual concerts and events, immersive gaming experiences, and other forms of digital entertainment.
The development of the Metaverse is an ambitious and futuristic vision for Saudi Arabia’s future. The Metaverse has the potential to provide new opportunities for economic growth, education, healthcare, and entertainment.
Saudi Arabia has taken several actions to support the development of the Metaverse, including investment in technology, partnerships with technology companies, and the development of necessary infrastructure. However, it remains to be seen how successful the implementation of the 2030 Metaverse vision will be and what its impact will be on Saudi Arabia’s economy and society.
WEB 3.0
Web 3.0 is the next generation of the internet that is focused on decentralization, interoperability, and empowering users. While the concept of Web 3.0 is still in its early stages, there are already some developments in Saudi Arabia that suggest the country is interested in exploring this emerging technology.
One of the key areas where Saudi Arabia is investing in Web 3.0 is blockchain technology. In 2019, the Saudi Arabian Monetary Authority (SAMA) partnered with Ripple, a blockchain-based payment platform, to create a pilot program for cross-border payments. Additionally, the Saudi government has established a regulatory sandbox to test and develop new blockchain-based solutions in areas such as supply chain management, digital identity, and smart contracts.
Another area where Saudi Arabia is exploring Web 3.0 is through its Vision 2030 initiative, which aims to modernize and diversify the country’s economy. The initiative includes a focus on developing a digital infrastructure that can support emerging technologies such as artificial intelligence, the Internet of Things (IoT), and blockchain.
Finally, Saudi Arabia is also home to several startups that are exploring Web 3.0 technologies. For example, OneGram, a startup based in Dubai with a presence in Saudi Arabia, has developed a cryptocurrency that is backed by physical gold.
Overall, while the concept of Web 3.0 is still in its early stages, Saudi Arabia is taking steps to explore and invest in emerging technologies such as blockchain, and it will be interesting to see how the country develops in this space in the coming years
AR:
Augmented Reality (AR) is a technology that enhances real-world environments by adding computer-generated information to them. In Saudi Arabia, there is a growing interest in AR, particularly in the areas of education, tourism, and marketing.
One of the most significant areas where AR is being used in Saudi Arabia is education. The Saudi Ministry of Education has implemented an AR-based education program that allows students to access interactive content related to their lessons. This program has been particularly successful in improving students’ engagement and understanding of complex topics.
In the tourism industry, AR is also being used to provide visitors with interactive and immersive experiences. For example, the Saudi Commission for Tourism and National Heritage (SCTH) has launched an AR-powered mobile application called “Step into Saudi” that provides visitors with an augmented reality tour of historical sites and landmarks.
Overall, AR is a growing area of interest in Saudi Arabia, and we will likely see continued growth and investment in this technology in the coming years.
VR:
Virtual reality (VR) technology has been gaining popularity in Saudi Arabia in recent years, as the country has been investing in various technological advancements. Here are a few key points regarding VR in Saudi Arabia:
Growth of the VR Industry: The VR industry in Saudi Arabia is still in its early stages, but it is rapidly growing. According to a report by ResearchAndMarkets.com, the VR market in Saudi Arabia is expected to grow at a CAGR of around 45% between 2018 and 2023.
Use Cases: VR technology is being used in various industries in Saudi Arabia, such as entertainment, education, and healthcare. In entertainment, VR arcades have been popping up in many cities, offering immersive gaming experiences. In education, VR technology is being used to create interactive and engaging lessons, particularly in science and history. In healthcare, VR is being used for pain management, anxiety and stress reduction, and even medical training.
Investment in VR: The Saudi Arabian government has been investing heavily in technology and innovation, including VR. For example, in 2019, the government launched the National Industrial Development and Logistics Program, which aims to boost the country’s economy and promote technological advancements, including VR.
Challenges:
There are still some challenges that the VR industry in Saudi Arabia faces, such as a lack of skilled professionals and high costs associated with VR equipment. However, efforts are being made to address these challenges, and the industry is expected to continue to grow.
Overall, the VR industry in Saudi Arabia is in its early stages but is growing rapidly, and is expected to have a significant impact on various industries in the country.
Conclusion:
In conclusion, this report highlights the significant technological advancements that have taken place in Saudi Arabia. With the continuous support of the government and the private sector, the country has been successful in implementing various innovative technologies, enhancing the quality of life for its citizens, and improving the business environment. As the country continues to move towards its vision of a digital future, it is crucial to prioritize investment in emerging technologies and focus on building a skilled workforce to ensure sustainable growth in the technology sector. Overall, Saudi Arabia has made remarkable progress in the technology industry, and we can expect to see even more exciting developments in the years to come.
