Vision 2030 Annual Report 2023

    Eight years into its ambitious journey, Saudi Arabia has achieved unprecedented progress through Vision 2030, delivering on its promise to build a thriving future for the Kingdom and its citizens.

    Your country is witnessing a comprehensive and sustainable development movement, and it is proceeding in the second phase of the Kingdom’s Vision 2030, aiming to develop promising and new sectors, support local content, facilitate the business environment, empower citizens, engage the private sector and increase the effectiveness of implementation to achieve more success and progress, and meet the aspirations and ambitions of our people.

    The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud

    The remarkable progress and the comprehensive development witnessed by our nation today demonstrates a meticulously planned and exceptionally executed approach aligned with the Kingdom's Vision 2030. Under the guidance of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, the implementation of Vision 2030 programs is driving the nation towards boundless horizons of development.

    His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud Crown Prince, Prime Minister, Chairman of the Council of Economic and Development Affairs

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    Progress

    OUTSTANDING PERFORMANCE ACROSS PILLARS

    In 2023, Vision 2030 continued transforming the Kingdom, surpassing several targets across all pillars.

    Highest number of pilgrims from outside the Kingdom

    13.56 million pilgrims, surpassing the 2023 target of 10 million Umrah pilgrims.

    2030 Targets30Million

    Achieved13.56 Million

    Baseline6.2 Million

    The unemployment rate for Saudis

    The unemployment rate for Saudis dropped to 7.7% from 12.3% in 2016, surpassing the 2023 target of 8%.

    2030 Target%7

    Achieved%7.7

    Baseline%12.3

    The number of volunteers has increased

    to reaching 834k for 2023.

    2030 Target1m Volunteers

    Achieved834k volunteers

    Baseline22.9k Volunteers

    Progress of L1 & L2 Key Performance Indicators

    All

    Vibrant Society

    Thriving Economy

    An Ambitious Nation

    %50

    Non-oil GDP hit a record high in 2023, contributing

    %4.7

    Non-oil GDP grew by 4.7%

    $400m

    Revenue generated by the mining sector in 2023.

    %108

    SME growth since the launch of Vision 2030

    %50

    Non-oil GDP hit a record high in 2023, contributing

    %4.7

    Non-oil GDP grew by 4.7%

    $400m

    Revenue generated by the mining sector in 2023.

    %108

    SME growth since the launch of Vision 2030

    %50

    Non-oil GDP hit a record high in 2023, contributing

    %4.7

    Non-oil GDP grew by 4.7%

    $400m

    Revenue generated by the mining sector in 2023.

    %108

    SME growth since the launch of Vision 2030

    %50

    Non-oil GDP hit a record high in 2023, contributing

    %4.7

    Non-oil GDP grew by 4.7%

    $400m

    Revenue generated by the mining sector in 2023.

    %108

    SME growth since the launch of Vision 2030

    Overview

    • Fast-growing economy

      Saudi Arabia’s economic transformation under Vision 2030 is a testament to the country’s commitment to building a diversified and sustainable economy. This transformation has been fueled by a comprehensive reform of economic policies and significant strategic investments.

    • Empowered Society

      Vision 2030 is creating a vibrant society with a high quality of life and strong social infrastructure, where all citizens are empowered to thrive and pursue their passions, contributing to driving the Kingdom’s transformation. Under Vision 2030, Saudi Arabia prioritizes education, cultural heritage, and the rule of law, fostering harmony and progress across all segments of society.

    • A leading destination

    • Sustainable Vision

      Sustainability has been at the heart of Vision 2030 since its inception. The Kingdom is focusing on restoring the ecological balance of its land and marine ecosystems for future generations. The Kingdom also emphasizes the sustainable use of natural resources, reflecting the strong cultural connection between Saudis and their environment.

    Key Launches In 2023

    New Corporate System

    New Corporate System: Introduced to enhance business performance and accelerate company growth and expansion.

    PIF’s Acquisition of Saudi Tabreed

    Completed a 30% stake acquisition in Saudi Tabreed District Cooling Company, focusing on sustainable cooling for landmark projects in the Kingdom.

    Unified Platform for Logistics Services

    Launched to streamline access to over 70+ services for investors and beneficiaries.

    New Murabba Development Company

    Launched to build the world’s largest modern downtown in Riyadh.

    Strategic Office for Northern Borders Province

    Established to promote economic growth and preserve natural and historical resources.

    Al-Falwa Project

    Launched as the first sustainable housing project in the Eastern Province.

    Riyadh Air Company

    Established to advance the air traffic sector and amplify the Kingdom’s strategic positioning.

    National Social Responsibility Platform

    Launched to promote comprehensive national development and enhance social values across society.

    Special Economic Zones (SEZs)

    As a global investment powerhouse.

    Jood Eskan Campaign:

    Launched during Ramadan, surpassing its targets, with donations exceeding $400 million.

    Generative AI Accelerator (GAIA)

    Launched to foster entrepreneurship in AI, with participation from 15 companies and 30 entrepreneurs.

    Online Notary

    Launched to improve user experience and provide digital justice services.

    Lifera Pharmaceutical Company

    Established to enhance the Kingdom’s international standing in the pharmaceutical industry.

    New Logistics Zone at Jeddah Islamic Port

    Introduced, spanning 72,000m2, with investments totaling $40 million.

    Lucid’s Air Pure Electric Motor

    Announced the latest rear-wheel drive electric motor model.

    Sawani Company

    Established to grow the camel milk-products market.

    SRJ Sports Investments Company

    Established to support growth in the sports industry market.

    Kayanee Company

    Launched to promote a healthy lifestyle for women in the Kingdom.

    FMTECH Facilities Management Company

    Established to offer integrated and diverse services in facilities management across various sectors.

    Insurance Authority

    Approved by the Council of Ministers as a key economic pillar.

    General Outline for Logistics Centers:

    Launched to strengthen the Kingdom’s global standing in investment and logistics.

    Red Sea Farm Cooperative (Tamala)

    Launched in partnership with government, private, and non-profit sectors to advance agriculture in Tabuk Province.

    NEOM Global Hub for Education, Research, and Innovation

    Launched to address societal challenges and consolidate global partnerships.

    Marafi Project

    Launched to leverage natural resources and transform Jeddah into an international city.

    Fuel Program

    Launched to train 100,000 citizens in digital jobs within the first year.

    Manara Minerals Investment Company

    Established to invest in international mining assets.

    Stimulating Local Industry Initiative

    Launched to facilitate investor participation.

    Data Saudi

    Platform granting access to over 140 economic and social indicators.

    Imtisal Advanced Inspections System

    Launched to enhance urban landscapes and quality of life in Saudi cities.

    Global Water Organization

    Established in Riyadh to advance water resource sustainability.

    Soudah Peaks Development Project

    Announced to create a luxurious mountainous tourist destination.

    Riyadh Dictionary

    Launched, containing over 120,000 contemporary Arabic words, enriching lexicography through digital experience.

    Women in Mining Program

    Launched to train women in the mining industry, advancing Saudization and empowering women.

    National Cybersecurity Awareness Campaign

    Launched to promote national security values and enhance cybersecurity awareness.

    Al Balad Development Company

    Established to transform historic Jeddah into an economic, cultural, and tourism center.

    Electric Vehicle Infrastructure Company

    Launched to support the development of fast charging services for electric vehicles.

    TASARU Mobility Investments Company:

    Launched to enhance the Kingdom’s global standing in the automotive sector, focusing on Saudization and advanced technologies.

    Red Fly Sea Airline Company

    Launched to transport visitors to Red Sea tourist destinations.

    Ardara’s Wadi Abha Project

    Launched as a cultural center and tourist destination in Asir Province.

    Esports World Cup

    Launched to consolidate the Kingdom’s position as a premier destination for esports competitions.

    Eddekhar Platform

    Launched to promote financial awareness and savings culture.

    Visiting Investor Visa Program

    Visiting Investor Visa Program: Second phase launched to attract and develop quality investments.

    Special Economic Zones Center

    Special Economic Zones Center: Established in Riyadh to enhance business competitiveness.

    Asir Entertainment Destination

    Announced with investments worth $346 million, Launched to improve national data quality. showcasing the province’s urban and cultural identity.

    National Data Quality Program

    Launched to improve national data quality.

    Tech Founders Program

    Launched to enhance digital entrepreneurial skills and align educational outcomes with labor market needs.

    Qiddiya Urban Plan and Branding

    Launched to position Qiddiya as a global destination for entertainment, sports, and culture.

    NEOM Food Production Company (Tobian)

    Launched to develop sustainable solutions in food production, distribution, and consumption.

    Dan Company

    Established to develop rural and environmental tourism projects, enhancing visitors’ interaction with local culture.

    UTAMO Tourist Destination

    Announced for NEOM, offering diverse arts and entertainment experiences on the Gulf of Aqaba coast.

    Qiddiya’s Gaming and Esports Zone

    Launched to make the Kingdom a global gaming center with the world’s first mixed-use gaming area.

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    Vision 2030 Annual Report 2023