Vision exudes hope, positivity

JEDDAH: Arab leaders and global analysts have termed the Saudi Vision 2030 “bold and ambitious.”

Mohammed bin Zayed Al-Nahyan, Abu Dhabi’s crown prince, tweeted: “The Saudi Vision 2030 is an ambitious program from the decisive king and the man who makes historical decisions.”
He added: “Prince Mohammed bin Salman’s interview was an honor to future generations and the vision looks to benefit the Kingdom and the region as a whole.”
Mohammed bin Rashid Al-Maktoum, UAE vice-president and Dubai ruler, said on Twitter: “I carefully followed the announcement like others today. The vision is filled with ambition and hope for the Kingdom and the region under a young leadership that will surprise the world with its achievements.”
Bahrain’s foreign minister, according to Al-Arabiya, said the deputy crown prince’s interview “was a breath of fresh air.”
Christopher H. Johnson, chairman of the Middle East Council of American Chambers of Commerce, wrote for the National Council on US-Arab relations: “These changes not only promise greater economic stability to the Kingdom — a key regional and global energy, commercial, and security partner to the United States — but also present an opportunity for American companies to invest reliable long-term capital in a wide range of sectors and regions.”
Business and economic analysts also reacted to the news, one being Ali Al-Nasser, fund manager at London-based duet group, which has more than $1 billion invested in Middle East and North African strategies.
“The question is now again about execution. He said all of the right things, it is a matter of putting it all to work, and he seems to be very keen and very focused and all else being equal, there is pretty strong momentum behind it, and locally there is strong support for his agenda,” Al-Nasser wrote.
Ali Al-Nasser said the stock market reacted positively to the interview and some of the headlines that have been coming out.
Masood Ahmed, International Monetary Fund director for the Middle East and Central Asia, said the plan's objective of diversifying the economy away from oil is “exactly the kind of transformation that an economy like Saudi Arabia needs.” He added: “I think the real issue is going to be how to make sure that these very sensible and ambitious objectives can be translated into real changes.”