Five years ago Saudi Arabia unveiled its Vision 2030 reform plan, a package of economic and social policies designed to free the kingdom from dependence on oil exports.
The reforms are part of Crown Prince Mohammed bin Salman's programme to attract foreign investment, wean the economy off hydrocarbons, strengthen the private sector and create sustainable jobs for Saudis.
The programme also aims to increase Saudi women's participation in the workforce to 30 per cent.
Prince Mohammed is expected to give a televised interview on Tuesday to mark five years since the programme was announced and talk about the remaining nine years of development.
Mega projects
Perhaps the most well-known part of the Vision 2030 strategy are glitzy megaprojects including Neom, a $500bn futuristic city and a mega entertainment and sports project, named Qiddiya, in Riyadh.
The projects will lead Saudi's efforts to encourage tourism as it attempts to move away from oil as its primary source of income. In late 2019, the government announced that tourist visas are now available for holidaymakers. A modest dress code is set for visitors, ending the requirement that women must wear the abaya.
Prince Mohammed bin Salman announced a new tourism master plan for Al Ula in the country's north-west earlier this year.
It is an area of archaeological significance that will be a major hub for the kingdom’s tourism sector.
The plan aims to turn Al Ula into a global destination for travellers offering heritage, nature, art and culture.
Two million visitors every year to the historic region are expected to visit the historic site.
Improving life for Saudi Arabia's citizens and residents
But it isn't all big buildings and projecting the environment. Vision 2030 also includes wide societal reforms, most notably on women's place in the kingdom.
The government lifted a ban on women driving in June 2018. Since then, a swathe of changes are encouraging women to take a more prominent role in society. Women no longer have to obtain permission from a male guardian to work, enrol for university or undergo surgery.
Women now also have the right to register child birth, marriage or divorce by themselves and to be issued official family documents and serve as guardians to minors.
The former system required women to seek permission from their male guardian – usually their father or husband, but sometimes a brother or son, to marry, apply for a passport and leave the country.
The government also curbed the powers of religious police that had patrolled public spaces to impose strict rules on women’s dress and enforce bans on alcohol, music, prayer-time closures and the mixing of men and women.
Government launched the Citizen’s Account, a cash handout for low- and middle-income Saudis to offset austerity measures in 2017.
Later that year, a 35-year prohibition on cinemas was lifted. The country plans to open more than 300 movie theatres by 2030.
In early 2019, a royal decree was announced that allowed music to be played in restaurants as public entertainment flourished around the kingdom and the ban on gender-mixing eases.
Diversifying from oil
Since 2016, the government has invested vast sums and effort into reforming the country’s private sector.
This was seen through the development of the banking system, digitisation of government services and development of macroeconomic management and fiscal stabilisation.
The government is pushing for foreign firms to invest and set up regional headquarters in the capital, Riyadh.
Shortly after the announcement of Vision 2030 in 2016, new labour regulations were announced that restricted certain jobs to citizens and raised quotas for companies to hire Saudi nationals.
In 2018, a five per cent value-added tax (VAT) was imposed to improve non-oil revenue generation.
Foreign investors are granted full access to NOMU, a parallel market for small- and medium-sized enterprises.
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Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
'Munich: The Edge of War'
Director: Christian Schwochow
Starring: George MacKay, Jannis Niewohner, Jeremy Irons
Rating: 3/5
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
RESULTS
5pm: Handicap (PA) Dh80,000 (Turf) 2,200m
Winner: Jawal Al Reef, Fernando Jara (jockey), Ahmed Al Mehairbi (trainer)
5.30pm: Handicap (PA) Dh80,000 (T) 1,600m
Winner: AF Seven Skies, Bernardo Pinheiro, Qais Aboud
6pm: Maiden (PA) Dh80,000 (T) 1,200m
Winner: Almahroosa, Fabrice Veron, Eric Lemartinel
6.30pm: Maiden (PA) Dh80,000 (T) 1,200m
Winner: AF Sumoud, Tadhg O’Shea, Ernst Oertel
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,200m
Winner: AF Majalis, Tadhg O’Shea, Ernst Oertel
7.30pm: Handicap (TB) Dh90,000 (T) 1,400m
Winner: Adventurous, Sandro Paiva, Ali Rashid Al Raihe
SPECS
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Match info
Newcastle United 1
Joselu (11')
Tottenham Hotspur 2
Vertonghen (8'), Alli (18')
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
SPECS
Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now
Global state-owned investor ranking by size
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Canada
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Profile Periscope Media
Founder: Smeetha Ghosh, one co-founder (anonymous)
Launch year: 2020
Employees: four – plans to add another 10 by July 2021
Financing stage: $250,000 bootstrap funding, approaching VC firms this year
Investors: Co-founders
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Profile
Company: Libra Project
Based: Masdar City, ADGM, London and Delaware
Launch year: 2017
Size: A team of 12 with six employed full-time
Sector: Renewable energy
Funding: $500,000 in Series A funding from family and friends in 2018. A Series B round looking to raise $1.5m is now live.
Dubai Rugby Sevens
November 30-December 2, at The Sevens, Dubai
Gulf Under 19
Pool A – Abu Dhabi Harlequins, Jumeirah College Tigers, Dubai English Speaking School 1, Gems World Academy
Pool B – British School Al Khubairat, Bahrain Colts, Jumeirah College Lions, Dubai English Speaking School 2
Pool C - Dubai College A, Dubai Sharks, Jumeirah English Speaking School, Al Yasmina
Pool D – Dubai Exiles, Dubai Hurricanes, Al Ain Amblers, Deira International School
The biog
Favourite food: Tabbouleh, greek salad and sushi
Favourite TV show: That 70s Show
Favourite animal: Ferrets, they are smart, sensitive, playful and loving
Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can
Name of first pet: Eddy, a Persian cat that showed up at our home
Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big
More coverage from the Future Forum
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Brief scores:
Toss: Australia, chose to bat
Australia: 272-9 (50 ov)
Khawaja 100, Handscomb 52; Bhuvneshwar 3-48
India: 237 (50 ov)
Rohit 56, Bhuvneshwar 46; Zampa 3-46
Player of the Match: Usman Khawaja (Australia)
Player of the Series: Usman Khawaja (Australia)
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
