Saudi Arabia’s Vision 2030 Plan Is Too Big to Fail — Or Succeed

Re-Blogged From Stratfor

Highlights
  • Since 2016, Saudi Arabia has been urgent in pursuing its aggressive economic reform efforts, but since oil prices have risen, these efforts have shifted and slowed.
  • Riyadh hopes to grow its foreign investment and private sector activity, but it will struggle as its regulatory environment is continually shifting.
  • Everything in the kingdom, from social practices to regulations, is still tightly controlled by the state, which will continue to invite wariness from investors and Saudi citizens.
  • Though Riyadh may be tapping the breaks on some of its initiatives, this is not a sign that the troubles Vision 2030 is facing are fatal — or even entirely unexpected; rather, they are part of a familiar cycle.
A display promotes Saudi Arabia's Vision 2030 economic reform campaign at the 2017 GITEX technology exhibition in Dubai, United Arab Emirates.
(GIUSEPPE CACACE/AFP/Getty Images)