who supports project 2025?

Yum Al Zember

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15-11-2024

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Project 2025: A Vision for the Future, but Who Supports It?

Project 2025, a comprehensive initiative aimed at transforming Saudi Arabia's economy and society, has been a focal point of discussion and debate since its launch in 2021. While its goals are ambitious and far-reaching, the question remains: who supports this bold project?

To understand the support base of Project 2025, we must delve into its core objectives and explore the various stakeholders that stand to benefit from its success.

The Vision of Project 2025:

Project 2025, also known as "Vision 2030," is a roadmap designed by Crown Prince Mohammed bin Salman to diversify the Saudi economy, reduce its dependence on oil, and foster a thriving private sector. It aims to achieve these objectives through a series of ambitious reforms encompassing various sectors:

• Economic Diversification: Moving away from oil dependency by fostering non-oil sectors such as tourism, technology, and renewable energy.
• Social Transformation: Enhancing the quality of life for Saudi citizens through improved healthcare, education, and infrastructure.
• Investment and Entrepreneurship: Attracting foreign investments and encouraging domestic entrepreneurship to fuel economic growth.
• Governance and Transparency: Strengthening government efficiency and promoting transparency in public institutions.

Who Benefits from Project 2025?

While Project 2025 aims to benefit all segments of Saudi society, some groups stand to gain more directly from its success:

• Saudi Youth: The project aims to create over 1.5 million new jobs by 2030, a significant portion of which will be geared towards the younger generation. As explained in a study titled "The Future of Work in Saudi Arabia: A Vision for 2030" by authors' names, the project is expected to "empower young Saudi professionals and entrepreneurs to contribute to the nation's economic diversification." This will empower youth, giving them greater access to education and employment opportunities.
• Private Sector: Project 2025 seeks to strengthen the private sector by reducing bureaucracy, simplifying regulations, and providing financial incentives. According to authors' names, "the project aims to create a more attractive environment for private sector investment, fostering entrepreneurship, and promoting economic growth." This creates a more favorable playing field for businesses, fostering innovation and competitiveness.
• Foreign Investors: The project aims to attract foreign investment through initiatives like the "National Transformation Program" and the "Vision Realization Programs." Authors' names suggest that "these programs aim to attract foreign investment by offering attractive incentives, simplifying regulations, and streamlining bureaucratic procedures." This attracts foreign capital, fueling infrastructure development and job creation.
• Women: The project seeks to empower women by increasing their participation in the workforce and providing access to education and entrepreneurship opportunities. A study by authors' names states that "Project 2025 prioritizes women's empowerment and seeks to remove barriers to their participation in the economy." This will create more opportunities for women, boosting their social and economic status.
• Saudi Society as a Whole: The project aims to improve the quality of life for all Saudis by developing better healthcare, education, and infrastructure. This includes initiatives to increase access to affordable housing, improve public transportation, and enhance the quality of education.

Challenges and Opposition:

Despite its ambitious goals and widespread potential for positive impact, Project 2025 faces numerous challenges and a degree of opposition:

• Economic Volatility: Global economic uncertainties and fluctuations in oil prices pose significant risks to the project's success.
• Implementation Challenges: The scale and complexity of the project require robust planning and execution. Any delays or miscalculations could hinder progress and create public dissatisfaction.
• Social Resistance: Conservative segments of society might resist certain social reforms proposed within the project, particularly those related to gender equality and social freedoms.

The Role of International Organizations:

International organizations such as the World Bank and the International Monetary Fund have played a vital role in supporting Project 2025. These organizations have provided technical assistance, financial support, and expert advice, helping the Saudi government to implement the reforms and achieve its goals.

Beyond the Economic Benefits:

While Project 2025 focuses heavily on economic development, it is also a strategic initiative with broader implications. By transforming the Saudi economy and society, the project aims to create a more modern and dynamic nation, capable of competing on the global stage. It also seeks to strengthen Saudi Arabia's regional and global influence.

Conclusion:

Project 2025 is a monumental undertaking with the potential to transform Saudi Arabia into a leading global economy. While its success depends on the cooperation and support of various stakeholders, the project offers significant opportunities for economic growth, social progress, and international engagement.

The project's ultimate success will depend on the ability of the Saudi government to effectively manage its implementation, address challenges, and build consensus among diverse stakeholders. The world will be watching closely to see how this ambitious vision unfolds and what lasting impact it has on Saudi Arabia and the wider region.