Deputy crown prince to showcase Vision 2030 at G20

JEDDAH: Deputy Crown Prince Mohammed bin Salman will brief the leaders taking part in the G20 summit, to be held in the eastern city of Hangzhou, China, on Sept. 4-5, on Saudi Vision 2030 and the Kingdom’s goal of diversifying its sources of income rather than relying solely on oil revenues.
Chinese and Japanese banks are expected to play key roles in the Kingdom’s development of the non-oil sector.
The deputy crown prince will start an official visit to China next week, to discuss economic and security issues with officials in Beijing, and will visit Japan from Aug. 31 to Sept. 2 for talks with Prime Minister Shinzo Abe.
From Japan, Prince Mohammed returns to China to attend the G20 summit as head of the Saudi delegation.
Political observers say the deputy crown prince’s visit is significant and consistent with Saudi diplomatic efforts to expand strategic partnerships with both the West and the East.
Political thinker Mostafa Al-Fiqi said the visit comes within the framework of Saudi plan to implement its Vision 2030 and moves to diversify strategic partnerships with world countries. “China is a strategic ally and leading trade partner of Saudi Arabia,” he said.
Political analyst Amr Hashem Rabie said the Kingdom is moving to diversify its business and political alliances. He pointed out that the deputy crown prince’s visits to China and Japan bear a special significance because of the political and economic weight of these two major countries.
Political science professor Ammar Ali Hassan commended the deputy crown prince’s diplomatic efforts and the Kingdom’s active participation of the G20 summit, which will help it introduce Vision 2030 to the international arena.
Gamal Bayoumi, general-secretary of the Arab Investors Union, said the visits can be expected to have very positive results and will boost the already close relations between Saudi Arabia, and China and Japan.
He said the deputy crown prince’s visit to the US and France was fruitful; it witnessed the signing of a number of significant economic agreements that will support the strategic plan and vision of the Kingdom, which works to not rely on oil as the only source that helps its economic growth.
“Saudi-Chinese relations are growing, based on mutual respect and common interests in all fields. The visit comes to confirm their strength and sustainability, and to reinforce the commercial relations that date back several centuries,” he said.
Egyptian Businessmen Association chief Ali Issa said Deputy Crown Prince Mohammed bin Salman’s visits to Beijing and Tokyo are strategic.
The visit to Japan can be expected to result in agreements on several economic projects in the field of nuclear energy investment, he said.
Strategic expert Mahmoud Mouneer emphasized the importance the deputy crown prince’s visit will have for China and Japan. It will lend further political, economic and strategic weight to these two Asian countries, he said.
“China is a candidate to lead the world economy in 2019,” he said, adding that the keenness of the Kingdom and its belief in the importance of diversifying scientific expertise and taking advantage of all that is new and advanced is exactly what Prince Mohammed has sought to achieve through Vision 2030.