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The Vision 2030 developed by Prince Mohammed bin Salman has had a lot of controversy. Photo/Reuters
RIYADH – Saudi Arabia is in the midst of a once-in-a-lifetime renaissance that could make or break the most powerful kingdom in the Gulf.
After nearly a century dependent on its oil wealth, the country is scrambling to put into motion a grand plan that aims to transform its entire economy and pave the way to the future for a generation hungry for opportunity.
The plan, known as Vision 2030, is led by 38-year-old and wildly ambitious Crown Prince Mohammed Bin Salman, the de facto leader seeking to cement his legacy and the kingdom’s standing on the global stage – all by the end of the decade.
But radical reform was not without controversy.
The kingdom has come under increasing scrutiny since the Crown Prince came to power in 2017. Saudi Arabia sparked international outrage in 2018 after Washington Post columnist Jamal Khashoggi was murdered in the Saudi consulate in Istanbul, and continues to face accusations of human rights abuses.
Nonetheless, nothing can stop Saudi Arabia from exerting greater influence on the global stage.
The country is opening up its budget to funnel billions of dollars into everything from sports to media and entertainment as part of international spending aimed at helping it diversify beyond oil.
All this makes Saudi Arabia a more relevant country than ever.
The following are 6 controversies about Vision 2030 promoted by the Crown Prince of Saudi Arabia Mohammed bin Salman.
1. The Economy is in Booming Mode
Photo/Reuters
Launching Insider, like many other countries, Saudi Arabia’s economy slumped when this pandemic hit in 2020, but the only way out was to bounce back from then.
The country’s GDP jumped past USD 1 trillion last year for the first time, while output per capita stood at USD 30,436, an increase of around 50% in just two years.