In: Economics
The iNational iTransformation iProgram iis ian iaction iplan iwhich ideveoped iby ithe iSaudi igovernment ito idiminish ithe icountry’s ieconomic idependence ion ioil. i iThis iis ia iframework iof iSaudi iefforts ito idiversify iits ieconomic iincome iaway ifrom ithe ioil iindustry. iThis iplan iadopted ibecause isince i2013 iSaudi iArabia's igovernment irevenue ibecame ileft ihalf idue ito ilow ioil iprice icut. iAdditionally, iit iis iadapting ito ilower ibudgets, ithe igovernment ihad ito irespond ito irising idemand ifor ieducation, ihealth, ihousing, iwater iand ielectricity. iMohammad ibin iSalman, ithe iCrown iprince iof iSaudi iArabia i ilaunched ithe iNational iTransformation iProgram ito ifulfill ipart iof ithe igoals iset iby ithe iVision i2030 iprogram. i
For iimproving ithe icapacity iand icapabilities irequired ito iachieve ithe igoals iof i“Vision i2030,” ithe iNational iTransformation iProgram iwas ilaunched ias ia iVRP iinvolving i24 igovernment iagencies. iIt iis iaimed ito idevelop igovernmental iwork iand iestablish ithe ineeded iinfrastructure ito iachieve i“Vision i2030” iambition iand irequirements. iThe iaim iof ithis iplan ito ifocus ion ithree iprinciples: iAchieving iGovernmental iOperational iExcellence, iImproving iEconomic iEnablers iand iEnhancing ithe iStandards iof iLiving. iIt ihas ian ivisiion ito iimprove ithe iquality iof igovernment iservices ithat iare iprovided ito iindividuals ias iwell ias iprivate iand inon-profit iorganizations, ito isupport iachieving ithe igrowth iof ithe iprivate isector iand ito iprovide ibeneficiaries iindividuals, iprivate iand inon-profit isectors, iwith iimproved isystems iof isocial iservices, ihealthcare, iand isafety.
This iplan ihas ieight istrategic iobjectives iwhich iare imentioned ibelow:
The istrategic iobjectives iof ithe iNational iTransformation iProgram iinclude idiversification iof irevenues, iprivatization iof igovernment iservices iand iassets iand irestructuring iof ithe iprivate isector. iThis iwill ilead ito ienhance ithe ifiscal iposition iand iset iSaudi iArabia ion ithe ipath itowards ireducing idependence ion ioil iand idiversifying ithe ieconomic ibase. iThis iplan iidentifies ithe idevelopment iand iemployment iof ithe inational iworkforce, iincrease iparticipation iin ithe iprivate isector iand iproviding ithe iyounger igeneration iwith ithe inecessary iskills iduring itheir ieducation ithat iwill iimprove ithem ito ibecome ieconomically iproductive isource iof isociety's idevelopment iin ithe ieconomy.