CEDA reviews role of reforms in diversification of economy and surge in non-oil revenues    79 hospitality facilities in Makkah and Madinah face penalties for closure order violations    Saudi Arabia hosts large-scale iftar banquets in Indonesia, Kyrgyzstan, and Malaysia    Saudi Arabia records 23,865 violations in nationwide residency and labor law inspections    S&P upgrades Saudi Arabia's credit rating to A+    Trump orders 'decisive' military action against Houthis in Yemen    US Senate passes Republican spending bill to avert government shutdown    Zelenskyy says territorial control key to peace talks, rejects recognition of occupied regions    Pakistan says train hijacking death toll rises to 30, accuses India and Afghanistan of supporting militants    Al Nassr climbs to third with dominant win over Al Khaleej, Al Qadsiah slips after loss to Damac    Power bank likely caused South Korea plane fire, investigators say    Makkah Lanterns Festival returns for the eighth year as part of Ramadan activities    Crown Prince receives Yazeed Al-Rajhi after historic Dakar Rally 2025 victory    SR17 million fines slapped on 16 individuals and companies convicted of violating Capital Market Law    Saleh Al-Shehri's late penalty rescues Al Ittihad against Al Riyadh    Grand Mufti rules against posting prayers and preaching in mosques on social media    Man lives for 100 days with titanium heart in successful new trial    Argentinian court begins trial of seven healthcare professionals over Maradona's death    Singer Wheesung who wooed Korea with his ballads, found dead at 43    Prince Frederik of Luxembourg dies from rare disease    Real-life shipwreck story wins major book award    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi Vision 2030: CEDA emphasizes non-oil sector growth and competitiveness
Published in The Saudi Gazette on 18 - 09 - 2023

NEOM — The Council of Economic and Development Affairs (CEDA) recently convened a video conference to delve into economic developments at local and global levels.
The meeting tackled various reports and subjects on its agenda, most importantly the Ministry of Economy and Planning's periodic presentation on both local and global economic developments.
During this presentation, a thorough examination of crucial indicators pertaining to the national economy and recent growth rates was conducted. The council commended the sustained expansion of non-oil activities and celebrated the consistently high growth rates of the Purchasing Managers' Index (PMI) in the non-oil private sector for the third consecutive year, which positioned the Kingdom at the pinnacle of G20.
The presentation also encompassed forecasts concerning national economic growth, a comprehensive overview of recent global economic developments, and a meticulous analysis of international key economic benchmarks.
Furthermore, the council engaged in discussions regarding ongoing efforts aimed at enhancing and diversifying the national production of goods and services with a competitive edge. These initiatives are in alignment with the goals of Saudi Vision 2030, which seeks to foster a thriving economy while elevating the Kingdom's global stature.
The presentation delved into priority economic activities that offer attractive advantages for the development of the industrial sector, encompassing areas such as metalworks, the automobile industry, computer and electronic products, and activities within the service sectors like tourism, transportation and logistics, communications, and information technology.
Additionally, it shed light on opportunities for expanding and diversifying national goods and services. These endeavors are intended to enhance the competitiveness of domestic production through collaborations with the private sector, investors, and state-owned enterprises. Such partnerships are anticipated to bolster non-oil exports, facilitate integration into local, regional, and international value chains, augment local content, improve the Kingdom's non-oil trade balance, and promote economic sustainability.
The council also turned its attention to the quarterly report from the Office of the Strategic Committee of the Council of Economic and Development Affairs, focusing on the programs designed to realize the Vision 2030 objectives. This report featured a comprehensive evaluation of program performance, highlighting notable achievements to date and outlining future aspirations. It underscored the progress achieved during Q2 of 2023, specifically with respect to the three core pillars of "a vibrant society, a thriving economy, and an ambitious nation." The report emphasized the launch of strategic initiatives poised to contribute significantly to the realization of the vision's strategic goals.
Moreover, the council reviewed the quarterly presentation submitted by the National Center for Performance Management of Public Entities, which assessed the performance of various public sector entities. This evaluation shed light on the entities' endeavors to align with Vision 2030, including the results of performance review meetings held in collaboration with the center and the corrective measures taken to ensure the attainment of targets.
Lastly, the council delved into the presentation submitted by the National Center for Privatization, which highlighted key aspects of presentations from supervisory committees overseeing privatization projects in H1 of 2023. The presentation encapsulated the outcomes of these privatization projects, the accomplishments of the supervisory committees, and the primary challenges encountered, along with proposed solutions during this period.
Subsequently, the council made essential decisions and issued recommendations in response to these discussions.


Clic here to read the story from its source.