29/03/2023
Vision 2030 in Saudi Arabia.- Natalia Torregrosa Ramos
The strategy known as Vision 2030 aims to deal with a possible scenario of declining oil reserves, which in turn could cause a drop in Saudi Arabia’s state revenue.
Consequently, Saudi Arabia is in full transformation, with a very large number of projects and investments underway. In the field of foreign policy, relations with China are strategic, we are witnessing the beginning of a climate of trust with Israel and Iran and soft power is displayed in large sports showcases. In the military field, there is the political will to carry out a war effort to manufacture military material in the country itself and limit dependence on external suppliers. On the other hand, Saudi Arabia wants to be relevant in its maritime space and will surely increase its military naval capacity. Economic development in non-oil activities is oriented towards urban development, industrial and commercial activity and the tourism sector. Finally, the degree of penetration of renewable energies is in an incipient phase and it is possible that Saudi Arabia concentrates its investment effort on the development of methods to capture and store CO2. However, the changes will not be profound in the social field.
At the moment, the crown prince and prime minister, Muhammad bin Salmán, has a wide margin of maneuver, due to the unconditional support of the king. Thus, as long as his father lives, the process of change, which some sectors perceive as a threat, will be able to develop without opposition.
Document prepared by Natalia Torregrosa Ramos. Analyst of the Spanish Institute of Strategic Studies.