Saudi Arabia's Vision 2030 Plan Is Too Big to Fail -- Or Succeed
Jul 27, 2018 | 09:00 GMT
(GIUSEPPE CACACE/AFP/Getty Images)
- 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.