“LEADERS OF SAUDI ARABIA”

Special Feature, Newsweek magazine June 2024

Eng. Omar bin Saleh Al-Abdullatif

CEO Sharqia Development Authority

Saudi Arabia’s economy is booming, unemployment is at a record low, the output gap is closed, inflation is
contained, and fiscal and external buffers have been rebuilt. The continuation of Vision 2030 reforms has helped
advance the country’s economic diversification agenda, including through reduced reliance on oil.What are the
biggest challenges and opportunities that lie ahead in order to achieve the Kingdom’s vision 2030goals?

Investment Attraction: Strategically located, with population of around 5 million inhabitants, the Eastern
Region has been described as the eastern gate to Saudi Arabia. What makes the Eastern region an ideal place to
invest?Can you elaborate on the current strategic objectives of the Sharqia Development Authority, particularly
in the context of economic diversification and sustainable development within the region?" What sectors do you
see as having the most potential for growth and foreign investment in the coming years?

In terms of innovation and entrepreneurship, what support does the Sharqia Development Authority
provide to local startups and businesses, and how do you envision these efforts contributing to the region's
economic landscape?"

Community Engagement and Development: Community engagement is crucial for the success of
development initiatives. How does the Authority plan to involve local communities in its development projects?
Are there any initiatives aimed at improving the quality of life, education, and employment opportunities for the
residents of Sharqia?How is the Sharqia Development Authority working towards enhancing the quality of
life for its residents, particularly in terms of infrastructure, healthcare, and education services?"

On tourism / Culture S.D.A has a mandate to promote the region’s mountains, nature, and storied culture,
preserve its ancient history and heritage, and transform it into a world-class tourist destination for visitors from
across the globe in line with Vision 2030. What steps have been taken to make the region one of the top touristic
destinations in the region?
--Watan Space as an initiative to support Saudi artists and display their talent
-- Boosting the number of visitors and tourism expenditure will require an expansion of Eastern Province
transport infrastructure, human resources and digital know-how. How is the authority working on those
aspects?

On agribusiness/food security: Eastern Province is home to important agriculture holdings. What

initiatives are being developed to expand the region’s food processing capacities and integrate the food value
chain.

The annual trade between the United States and Saudi Arabia reached a value of USD 20 billion by the end of
2021. Economic ties between these two nations are undergoing diversification, with significant American
investments establishing Saudi Arabia as a key regional ally. These investments encompass various sectors,
including industry, shipping, real estate, and finance.
---SDA vs Europe ,United States: Forging alliances in investment, conducting commercial research, and
facilitating the transfer of technology with American firms and investors.

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