Economy

Four years after the launch of Saudi Arabia’s comprehensive development strategy, Vision 2030, the Kingdom’s non-oil economy is starting to see the benefits of sustained reform. Any decrease in revenue caused by lower oil prices is a significant challenge and presents a downside risk for the economy. Actions taken by the government to mitigate the effects of both the depressed oil price scenario and Covid-19 in the first half of 2020 are substantial. These will support non-oil growth and ensure a social safety net for citizens in the short term, while in the longer term the Kingdom’s increasingly diverse economy is expected to benefit from the implementation of Vision 2030 objectives. This chapter contains interviews with Fahd Al Rasheed, President, Royal Commission for Riyadh City (RCRC); Anas Alfaris, President, King Abdulaziz City for Science and Technology (KACST); and Saad bin Othman Al Kasabi, Governor, Saudi Standards, Metrology and Quality Organisation (SASO).