Vision in motion: Celebrating a decade of change 

Almost a decade ago, with the leadership of King Salman and Crown Prince Mohammed bin Salman, Saudi Arabia embarked on a journey toward a brighter future with the launch of Vision 2030. This ambitious roadmap leverages the Kingdom’s unique pivotal role globally, its strong investment capabilities, and its young population.

Last weekend, I attended the fifth edition of the Formula One Grand Prix in Jeddah, which I consider one of Vision 2030’s impactful achievements: the evolution of sports, especially Formula One. Vision 2030 is a blueprint that diversifies the economy, empowers citizens, creates a vibrant environment for local and international investors, and establishes Saudi Arabia as a global leader.

The Vision was designed to unfold in stages, each lasting five years and building on the last. The first phase set the foundation, implementing structural and comprehensive reforms in the public sector, the economy, and society. The second phase accelerated these efforts, providing an enhanced focus on strategies and further investments in key industries and ambitious projects. This has yielded tangible results across the country in countless sectors and industries. On top of that, since the commencement of the Vision, Saudi Arabia won the right to host the World Expo in 2030 and the FIFA World Cup in 2034 and launched the Riyadh Metro, the first mass transport system in the country.

Saudi Arabia is forging a future where tradition, innovation, and sustainability go hand in hand. This strategy has provided endless opportunities for citizens to realize their potential and usher in a new era of development and prosperity for the Kingdom.

The Vision has addressed the youth as the cornerstone of the economy. Countless initiatives have been introduced to prepare the youth for a dynamic career path in the Saudi G20 economy and help them with their startups.

As a big Formula One fan since my London days in the ’90s, when I was a frequent guest at the Silverstone circuit in the UK, building such an impressive circuit in Jeddah was, to me personally, the biggest surprise of the Vision. Last weekend, it was another spectacular event, the fifth edition of Formula One in Jeddah, the Bride of the Red Sea.

I had the pleasure of meeting so many dear friends, especially Prince Abdulaziz bin Turki Al-Faisal, the minister of sport and the driving force behind the stunning Formula One circuit in Jeddah, Yasir Al Rumayyan, governor of the Public Investment Fund and chairman of Aramco, the sponsor of Formula One globally, and Ali Alireza, chairman of the first Saudi automotive group in the country, including Aston Martin, a leading F1 team.

The first nine years of the Vision have led to the fastest pace of economic, social, educational, and sports developments in the Kingdom’s history, we will try our best to catch up with the speed of future achievements in the years to come until 2030.

• Basil M.K. Al-Ghalayini is chairman and CEO of BMG Financial Group.