giovedì 3 maggio 2018
Vision 2030: CEDA launched the Quality of Life Program 2020
On May 3, 2018, the Council of Economic and Development Affairs (CEDA) launched the Quality of Life Program 2020, one of the Vision Realization Program (VRP) of Saudi Vision 2030 approved by the Council of Ministers. The Program is designed to promote new options for participation in cultural events as well as entertainment and sporting activities that contribute to the quality of life. The program also underlies creation of jobs, and investment opportunities, as well as diversified economic activities that will enhance the status of Saudi cities, so that they can be placed on the list of the best 100 cities in the world by upgrading services and infrastructure.
Quality of Life Program 2020 total expenditures will reach SAR 130 billion ($34.6 billion), of which SAR 74.5 billion ($19.8 billion dollars) will constitute direct investment in the program. Government capital expenditure will surpass SAR 50 billion ($13.3 billion) by 2020, and investments available to the private sector will amount to around SAR 23.7 billion ($6.3 billion) for the same period, utilizing 220 initiatives adopted by the program. This does not include all forms of capital expenditure in major projects such as Qiddiya Project, the Red Sea Project, Al-Dariyah Gate Project, Historical Jeddah Project, Royal Commission for Al-Ola, and other projects, in addition to all related private sector projects, with total investments exceeding SAR86 billion ($23 billion).
Attractive Investment Opportunities
Quality of Life 2020 aspires to provide economic and investment opportunities for sustainable growth and development. The program encourages the private sector and foreign investors to invest in many vital markets related to improving the quality of life. The main objective of the program is to increase the involvement of the private sector in the development of the strategy. The program provides all necessary (non-financial) components to reduce investment risks. This means removing all non-financial obstacles that limit private- sector participation in quality-of-life sectors, such as regulatory risks and legal frameworks. Additionally, ensuring effective and proactive management of private sector opportunities by identifying and linking investors and investment opportunities in all sectors will be pursued.
Goals and Ambitions
QOL 2020 contributes to a wide range of goals and aspirations set out by Vision 2030. There have been 23 quality of life program objectives identified, including four objectives directly related to the concept of lifestyle:- Promoting the exercise of sports activities in society: this program aims to provide 492 suitable places for sports as well as increasing the utilization of sports facilities from 8% to 55% and promote the athletic participation of girls on school scale, the program aims to let 325,000 girls participate in physical education classes, qualife 7,500 teachers and preparing 1500 schools with GYMs. It also aims to contribute to the distinction of Saudi sport globally, initiatively, by preparing number of elite athletes in the Kingdom and improve their performance to participate effectively in the Olympic Games. Goals and Ambitions Developing and diversifying entertainment opportunities to meet the needs of the population: this program seeks to create a water park, 3 theme parks and 16 family entertainment centers by 2020. - Developing Saudi contribution to arts and culture: this program also promotes the Kingdom's contribution to arts and culture throughout the elevation and development of seven cultural and artistic fields (visual arts, performing arts, filmmaking, poetry, design and national heritage). The Program pursues the establishment of an island for arts and culture in Jeddah, 45 cinemas, 16 theaters, 42 libraries.
Implementation and Follow-up
The CEDA is monitoring the implementation of the Quality of Life Program 2020. A number of specialized agencies have been established at the governmental level, e.g., The National Center for Performance Measurement, the Strategic Management Office, the Bureau of Spending Rationalization, the Non-Oil Revenue Development Unit, and the Local Content and Private Sector Development Unit. All aim to formulate strategies and set goals, create programs, monitor achievements, and manage projects. Recently, the Board has approved the strategic objectives of Vision 2030 to establish measurable frameworks, benchmarks, and to follow the progress of plans and operational programs continuously and effectively.