Mohammad Bashayreh

Recognising the importance of minimising its dependence on oil, Saudi Arabia launched its Vision 2030 as a roadmap for promoting innovation, investment, and sustainability in various sectors beyond oil. Vision 2030 sets out cardinal commitments,1 which include ‘modernizing [the Saudi] social welfare system to make it more efficient, empowering and just,’ providing ‘opportunities for everyone - men and women, young and old - so they may contribute to the best of their abilities,’ and to ‘further pursue public-private partnerships, continue to facilitate the flow of private investment and improve our competitiveness.’ To fulfil this ambitious vision, several ‘realisation programs’ have been established since the Vision was launched in 2016. A major program for the implementation of Vision 2030 is the ‘Regulations Review Program’ that aims ‘to review all laws to ensure they are in line with the Kingdom’s priorities.’2 Further, Vision 2030 emphasises the Islamic values and teachings as the way of life of the Saudi society, while declaring a commitment to ‘apply international legal and commercial regulations strictly and create a business environment conducive to long-term investment.