Vision 2030 playing a crucial role in business growth and diversification in Saudi Arabia

 

Report appreciates Vision 2030 as a catalyst in business growth and diversification

Oxford Business Group (OBG), in partnership with Al Othaim Investment Company, has unveiled its first Saudi Vision 2030 Corporate Catalyst Report, titled "Innovation and Integration in the Leisure Industry." This report examines the investment and business diversification opportunities arising in Saudi Arabia's leisure, hospitality, retail, sports, and entertainment sectors as a result of Vision 2030.

Saudi Arabia is currently undergoing profound social and economic changes driven by Vision 2030, which is fostering an environment ripe for business diversification. This national initiative is particularly influencing the leisure industry, catering to the growing demands of the Kingdom's youthful and ambitious consumer base.

 

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The report emphasizes that Vision 2030 aims to position the private sector as a primary driver of economic dynamism. It highlights the importance of job creation, skills development, and improving the quality of life for Saudi citizens and residents. Private enterprises are expected to play a key role in expanding entertainment and sports offerings while enhancing urban development.

Al Othaim Investment Company is spotlighted in the report as a prime example of a traditional business leveraging Vision 2030 to explore new growth opportunities. The company’s recent involvement in the Vision Golfe 2024 event in France reflects its dedication to promoting Saudi Arabia's investment prospects on the international stage.

 

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Meshaal bin Omairh, Group CEO of Al Othaim Investment Company, shared insights during his address at Vision Golfe in Paris, which was hosted under French President Emmanuel Macron’s patronage. Bin Omairh stressed the need for businesses to align with governmental priorities to fully capitalize on diversification and growth opportunities. "Saudi Arabia’s evolving economic landscape presents vast prospects. Urban development initiatives and public-private partnerships are creating exciting growth avenues," Bin Omairh stated.

He also underscored the value of international collaborations in achieving these objectives. "Our trading and supply chains, coupled with our existing partnerships with French businesses, are increasingly vital. We are committed to strengthening these ties as they are crucial to our success and the success of Vision 2030."

 

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Jana Treeck, OBG's Managing Director for the Middle East, noted that the Corporate Catalyst Report highlights significant progress in transforming Saudi Arabia's leisure industry under Vision 2030. "The transformation agenda aims to create an integrated ecosystem connecting key sectors. Businesses that align with these priorities can play a crucial role in driving growth and contributing to the prosperity envisioned by Vision 2030," Treeck said.

The report, along with an accompanying video providing additional insights, is available for viewing and download.

Source: https://menafn.com/