Saudi Arabia’s Vision 2030: The road to a new economic paradigm in the Middle East?

Saudi Arabia’s Vision 2030 is set to reframe the economic landscape of the Gulf region. Unveiled in April, the ambitious plan aims to overhaul the Saudi economy and reduce the Kingdom’s reliance on oil. First introduced by Deputy Crown Prince Mohammed bin Salman, Vision 2030 also highlights the Kingdom’s ambition to privatise five percent of the state-owned Aramco—the world’s most valuable company. This partial privatisation would help the company gain more transparency and dynamism. It would also solidify Saudi Arabia’s commitment to diversification and put an end to its status as a rentier state.