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

Author

Listed:
  • 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)

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.

Suggested Citation

  • Firoz Alam & Shahid Alam & Mohammad Asif & Umme Hani & Mohd Naved Khan, 2023. "An Investigation of Saudi Arabia’s Ambitious Reform Programme with Vision 2030 to Incentivise Investment in the Country’s Non-Oil Industries," Sustainability, MDPI, vol. 15(6), pages 1-19, March.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:6:p:5357-:d:1100278
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    References listed on IDEAS

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