Saudi Vision 2030 gives resilience to face the pandemic and beyond

Created: Monday, 24 August 2020 06:56

Vision 2030-driven digital transformation has given Saudi Arabia the resilience needed to face the pandemic and beyond, said Munir Eldesouki, assistant minister, Ministry of Communications and Information Technology, to Oxford Business Group

Digitally-enabled through more than a dozen national transformation programmes, Vision 2030 allowed the Kingdom to structure and drive a swift response to the pandemic, aimed at curbing its spread and reducing the impact on the economy. 

“This was to ensure that citizens and residents could continue to enjoy their digital tools and services without any interruption,” Dr Eldesouki noted. “It also allowed for continuous access to more than 3,500 e-government services and 94 per cent of government agencies were working remotely.”

To mitigate the socio-economic pressure of the pandemic on businesses and citizens, Daniah Orkoubi, chief economist, at the Kingdom’s Ministry of Communications and Information Technology, said that the government launched a US$58.66bn stimulus package, which included a special financing scheme, a lending programme and deferred payment programme to financial guarantees for small to medium-sized enterprises and exemption.

“In fact, the labour market is undergoing a major transformation which is paving the way to the introduction of job globalisation in the global workplace,” she said.

Dr Eldesouki and Orkoubi underlined the effect of several global trends prompted by the pandemic, ranging from a decline in global trade and greater state intervention as a means of rescuing economies, to the acceleration of technology adoption, especially contactless economic systems.

“The pandemic actually acted as a natural catalyst for digital transformation and turned it into a pressing necessity rather than a long-term aspiration,” Dr Eldesouki told OBG.

Marc-André de Blois, OBG’s director of PR and video content, stated, “While the competitive cost of oil production and abundant reserves will undoubtedly help to drive a swift recovery, our interviews show that Saudi Arabia’s efforts to diversify its economy and put digital transformation at the heart of new growth are not only well on track, but will take on added importance as the world emerges from lockdown.”

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