Vision 2030 unlocks new opportunities for business in Saudi
Arabia
Oxford Business Group (OBG), in collaboration with Al Othaim
Investment Company, has released its inaugural Corporate Catalyst Report,
"Innovation and Integration in the Leisure Industry." This report
explores investment opportunities and business diversification in Saudi
Arabia's leisure, hospitality, retail, sports, and entertainment sectors,
driven by Vision 2030.
Saudi Arabia is undergoing significant social and economic
transformation as part of Vision 2030. This national agenda is creating a
fertile environment for private businesses to expand into emerging market
segments and meet the growing demand from the Kingdom's young and aspirational
consumer base. The leisure industry, in particular, stands to gain
substantially from these initiatives.
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Arabia’s 'Vision 2030' demonstrates remarkable progress in economic
transformation
The report emphasizes Vision 2030's goal of making the
private sector a key driver of economic dynamism, fostering job creation and
skills development. A central focus of this vision is improving the quality of
life for Saudi citizens and residents, with private businesses playing a
crucial role in diversifying entertainment and sports offerings, enhancing the
urban landscape, and meeting social needs.
Al Othaim Investment Company is showcased as an example of
how a well-established company can leverage Vision 2030 to explore new avenues
of growth. In an exclusive interview, Meshaal bin Omairh, Group CEO of Al
Othaim Investment Company, highlights the importance of aligning with the
government's strategic priorities to capitalize on opportunities for
diversification and expansion.
"As Saudi Arabia's economic landscape diversifies, we
see tremendous opportunities emerging, particularly in sectors such as tourism
and technology. These developments pave the way for significant investment
opportunities in real estate development. Initiatives aimed at fostering urban
development and promoting public-private partnerships present promising avenues
for growth,” said bin Omairh.
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Jana Treeck, OBG's Managing Director for the Middle East,
noted that the Corporate Catalyst Report highlights the progress in
transforming Saudi Arabia's leisure industry under Vision 2030.
"The national transformation agenda envisions a
comprehensive ecosystem that interconnects key sectors. Private businesses
attuned to these priorities can play a pivotal role in driving complementary
growth and contributing to the overall economic prosperity envisioned by Vision
2030," Treeck added.
Source: Zawya
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