An Investigation of Saudi Arabia’s Ambitious Reform Programme with Vision 2030 to Incentivise Investment in the Country’s Non-Oil Industries

Firoz Alam (), Shahid Alam, Mohammad Asif, Umme Hani and Mohd Naved Khan
Additional contact information
Firoz Alam: Department of Finance, College of Administration and Financial Science, Saudi Electronic University, Riyadh 11673, Saudi Arabia
Shahid Alam: Department of Management, College of Administration and Financial Science, Saudi Electronic University, Riyadh 11673, Saudi Arabia
Mohammad Asif: Department of Finance, College of Administration and Financial Science, Saudi Electronic University, Riyadh 11673, Saudi Arabia
Umme Hani: Department of Finance, College of Administration and Financial Science, Saudi Electronic University, Riyadh 11673, Saudi Arabia
Mohd Naved Khan: Department of Finance, College of Administration and Financial Science, Saudi Electronic University, Riyadh 11673, Saudi Arabia

Sustainability, 2023, vol. 15, issue 6, 1-19

Abstract: Background/Objectives: Vision 2030 of Saudi Arabia is an important project that mainly targets the reduction in dependency on the oil economy through the growth of non-oil Industries. This study investigates Saudi Arabia’s effort for Vision 2030 to incentivise investment in the non-oil industry’s growth. Material and Methods:A sample of 225 employees of the non-oil industries of Saudi Arabia was selected as sample participants. A survey was conducted for data collection, and SPSS software was used to analyse the data. Findings:The findings indicate that sig values for all tests were 0.000 < 0.05 to support the selection of an alternative hypothesis. Therefore, it can easily be determined from the analysis that a more robust relationship is present between Vision 2030 with incentivised investment, economic stability, and financial accommodation.The advantages of reform programs have been effective in non-oil industries of Saudi Arabia to increase production standards and obtain more customer engagement.Conclusion: This research contributes to providing a straightforward concept in Vision 2030, which is Saudi Arabia’s reform program to develop the economic condition of Non-Oil Sectors. Hence, reform in the policy for economic stability can help to maintain the growth of different sectors and can further support financial assets.

Keywords: ambitious reform; Vision 2030; non-oil industry; incentivised investment (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.mdpi.com/2071-1050/15/6/5357/pdf (application/pdf)
https://www.mdpi.com/2071-1050/15/6/5357/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:15:y:2023:i:6:p:5357-:d:1100278

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().