Projects Under ‘Saudi Vision 2030’ Set to Enter Implementation Phase

Saudi Vision 2030 continues with implementation steps for targeted economic transformation (Asharq Al-Awsat)
Saudi Vision 2030 continues with implementation steps for targeted economic transformation (Asharq Al-Awsat)
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Projects Under ‘Saudi Vision 2030’ Set to Enter Implementation Phase

Saudi Vision 2030 continues with implementation steps for targeted economic transformation (Asharq Al-Awsat)
Saudi Vision 2030 continues with implementation steps for targeted economic transformation (Asharq Al-Awsat)

National development projects launched under “Vision 2030” in Saudi Arabia are witnessing remarkable and steady progress as they move forward from planning to implementation across the Kingdom.

Considered bold, yet achievable, these projects will raise the international bar in terms of quality, environmental friendliness, sustainability, and the use of renewable and alternative energy.

Largescale developments like “The Line”, “Red Sea”, “AlUla”, “AlSouda”, renewable energy programs like The National Renewable Energy Program (NREP), and initiatives like the “Riyadh Strategy” are steadily moving Saudi Arabia towards achieving the goals envisioned by its national transformation plan for the decade.

The Line, for example, offers a never-before-seen approach to urbanization – a 170km-belt of re-imagined urban development with multiple, hyper-connected communities, with natural and walkable spaces.

It is a model of urban design and livability that puts people and the planet in harmony for the 21st century and beyond. Built around nature, rather than over it, large areas of land will be preserved for conservation, supporting NEOM’s environment and rich heritage.

Construction of the smart city will start in the first quarter of 2021 and is set to be a home for more than 1 million people from all over the world and will create a platform for innovation and prosperous businesses.

It will also help in addressing some of the world’s most pressing challenges, like climate change, urban sprawl, traffic congestion, and social disconnection.

Meanwhile, the Riyadh Strategy is on track to generate mega projects, create job opportunities, and expand the Saudi capital’s economic horizons.

It aims to make Riyadh among the top 10 economic cities in the world to drive forward the country’s economic, industrial, and tourism growth in upcoming years.

Moreover, the scheme targets increasing the capital’s population from 7.5 million to around 15 to 20 million in 2030.



Saudi Arabia Prepares Investment Environment for Food Security with Private Sector Participation

A food store in Saudi Arabia (Asharq Al-Awsat)
A food store in Saudi Arabia (Asharq Al-Awsat)
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Saudi Arabia Prepares Investment Environment for Food Security with Private Sector Participation

A food store in Saudi Arabia (Asharq Al-Awsat)
A food store in Saudi Arabia (Asharq Al-Awsat)

The Saudi government has granted the General Authority for Food Security (GFSA) the authority to expand its revenue sources through investment initiatives and strategic partnerships with the private sector.

The new move is intended to enhance the Authority’s capacity to fulfill its mandate, align with national goals, and operate within regulatory frameworks, while also cultivating a competitive investment environment within the food security sector.

Recently, the Council of Ministers approved the formal organization of the GFSA, further reinforcing its role in safeguarding national interests and ensuring compliance with relevant regulations.

This development follows the Cabinet’s decision in January 2023 to rename the former Grain Silos and Flour Mills Organization as the General Authority for Food Security.

The change aims to unify the efforts of government bodies and the private sector, improve system efficiency, and raise overall performance.

The investment of the Authority’s funds will be jointly managed by the Minister of Environment, Water and Agriculture, who also chairs the GFSA, and the Minister of Finance.

The collaboration ensures the effective use of revenues in a way that supports long-term financial sustainability. Fees for services provided by the Authority will be set in coordination with the Ministry of Finance and the Center for Non-Oil Revenue Development until formal governance procedures are established.

Under the new regulatory structure, the GFSA is authorized to propose and amend laws, policies, and strategies related to food security. It can also recommend updates to the list of strategic commodities in coordination with other relevant bodies.

The Authority is tasked with developing and overseeing emergency response plans and strategic food storage policies. It will also supervise the storage of key food commodities by the private sector, monitor usage and rotation, and take necessary action based on its findings. In addition, it will assess food loss and waste throughout the supply chain and formulate strategies to minimize it, including recycling programs in partnership with other entities.

The GFSA is required to establish electronic links with public and private institutions to access necessary data, and it may enter into agreements related to food security both domestically and internationally. Its funding will come from government allocations, service fees, investment returns, and approved donations, with all revenue managed through accounts coordinated with the Ministry of Finance.