The preparations of celebrating the Anniversary of the Pledge of Allegiance to Crown Prince Mohammed bin Salman in the coming few days affirms the wisdom, knowledge, and insight of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz.
His Royal Highness wanted to make a shift in the economic sector, especially the diversification of national income sources so that the Kingdom stop relying solely on oil. As a result, the Crown Prince pledged to provide support to entrepreneurs and pay due attention to this sector.
Vision and Entrepreneurship
Saudi Vision 2030, launched by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, the Crown Prince, Prime Minister,, attached importance to entrepreneurship and has clearly expressed his support to entrepreneurs in opening doors to a brighter and more prosperous future.
The vision included special messages for entrepreneurs: grasping the future economic power in order to devote their energies and support their projects.
The establishment of the General Authority for Small and Medium Enterprises was one of the initiatives of this vision, which worked decisively and at an accelerated pace to review regulations and regulations, remove barriers, facilitate access to finance, and support entrepreneurs in marketing their ideas and products. Through it, entrepreneurs can learn skills, and it can nurture their innovation.
Institutions
On the other hand, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, The Crown Prince, Prime Minister, wanted all the initiatives launched in the Kingdom to operate on clear bases and methodologies. Hence, the Crown Prince focused on institutional support and established bodies and institutions that only support and advance entrepreneurs.
Misk Foundation
The Mohammed bin Salman bin Abdulaziz Charitable Foundation, known as “Misk”, a non-profit foundation, was established by Prince Mohammed bin Salman bin Abdulaziz who chairs its board of directors.
“Misk” provides education to the community in all fields; they include literary, cultural, social and technological sciences and business fields.
It also partners with local and global organizations, which in turn support emerging projects that facilitate development and progress in the Kingdom and increase its active contribution through participation in international committees and membership.
Misk is investing in developing intellectual capital and boosting the potential of Saudi youth; a “Misk 500” accelerator program was launched to provide support and services for promising business projects in the Middle East and North Africa region.
The programs that emanate from “Misk Entrepreneurship” to date are: “Misk Launchpad”, and “Misk Accelerator”, in addition to the “Entrepreneurship World Cup”, which has been held annually by the Foundation over the past years, “Misk School for Entrepreneurs”, and “10X Saudi Leaders”.
Prince Mohammed bin Salman College of Management and Entrepreneurship (MBSC)
The Prince Mohammed bin Salman College of Management and Entrepreneurship, in collaboration with Babson Global College and Lockheed Martin, was launched in 2016 to develop education and support Vision 2030.
The college seeks to develop the educational and cultural level, nurture and support young people’s potential, as well as keeping pace with the aspirations of leadership towards achieving “Vision 2030” in relation to the development of education and bridging the gap between higher education and labor market requirements.
The Prince Mohammed bin Salman College of Management and Entrepreneurship is the first educational institution to offer a university degree and postgraduate studies in the field of entrepreneurship in the Kingdom. The Babson International College, which is the first college of entrepreneurship in the United States, and Lockheed Martin provide their experiences in higher education for the college according to an innovative methodology in the education field and its application.
Entrepreneurship World Cup
Entrepreneurship World Cup is one of the world’s leading initiatives launched by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz; Crown Prince, and Prime Minister, in order to support entrepreneurs and develop the Kingdom’s entrepreneurship sector.
The competition is held under the auspices of the Misk Charity Foundation, represented by the Misk Global Forum in partnership with the Global Entrepreneurship Network. This initiative was dedicated to supporting entrepreneurs from all over the world and all kinds of startups at the initial growth or maturity stages.
The Entrepreneurship World Cup competition allocates about $5 million in prizes to be awarded to the winners; it also creates investment, training, business relations, and mentorship opportunities.
The competition brings together over 100,000 entrepreneurs from 100 countries around the world. 118 winners get three major global awards whose entrepreneurial projects are at the initial or growth or maturity stages and 15 global awards whose entrepreneurial projects have reached the final phase. It also includes industry and social enterprise awards, along with 100 national awards.
Global Entrepreneurship Congress (GEC)
It is another world conference sponsored by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz; The Crown Prince, Prime Minister. It aims at supporting both cultural and institutional development.
The Global Entrepreneurship Congress “GEC” highlights a number of concepts and terminologies related to entrepreneurship, innovation, and investment opportunities. It also enables business policymakers to listen to entrepreneurs and learn about the challenges they face in developing more flexible procedures and enhancing entrepreneurial work.
GEC is an interactive platform open to entrepreneurs and start-ups to present promising ideas. The Conference also offers entrepreneurs the real opportunity to meet with their counterparts from all over the world to benefit from their experiences and to listen to the world’s most important experts in this field.
After the allegiance of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud on 26 Ramadan 1438 AH, to become the Crown Prince of the Kingdom of Saudi Arabia, the Kingdom is witnessing many affirmative resolutions, beginning with the announcement of the ambitious Vision 2030, enforcing women’s rights and the forming regional alliances as well as adopting development strategies and programs in various economic, educational, health, social and industrial sectors.
Since his coronation, the Crown Prince has notched major achievements in his leadership, management skills, and good decisions at the local and international levels in all fields. All these achievements are in accordance with the key axes of the Kingdom’s Vision 2030 launched by the Young Prince to make the Kingdom a key hub of economic power.
The Crown Prince’s affirmative decisions
Recently, His Royal Highness Prince Mohammed bin Salman Crown Prince and Prime Minister adopted many important decisions aimed at achieving sustainable development and providing economic and social opportunities for citizens. Some of these decisions are as follows:
Establishing Neom City
His Highness the Crown Prince launched Neom in October 2017, a new city located on the northern coast of the Red Sea in the Kingdom. It aims to transform the Kingdom into a global hub for trade, investment, tourism, and entertainment. It is part of the Crown Prince’s plan to transform the Saudi economy into a diversified economy based on various sources of income.
NEOM was designed to be a smart and sustainable city, with many large and interesting projects. The projects include the large solar project, the agriculture project using smart and sustainable farming techniques, as well as the scientific and technological research center which aims to develop new solutions and technologies in various fields.
Public Investment Programme
His Royal Highness Prince Mohammed bin Salman launched the Public Investment Program in 2018; it aims to promote investments and attract more foreign investment. The program includes a package of economic and legislative measures to improve the investment environment in the Kingdom which include: facilitating administrative procedures for establishing companies, facilitating access to necessary licenses, and improving government services for companies and investors.
The program also aims to improve the Kingdom’s business environment, encourage innovation and economic diversification, and provide investment opportunities in various economic sectors, such as industry, agriculture, tourism, entertainment and energy.
Hajj and Umrah Development Program
Last year Prince Mohammed bin Salman launched the Hajj and Umrah Development Programme which seeks to improve the pilgrims’ experience. This program is part of the Kingdom’s efforts to improve and develop Hajj and Umrah services and provide a suitable and safe environment for pilgrims and those performing Umrah.
These initiatives include the establishment of an integrated electronic platform that allows pilgrims and those performing Umrah to take all necessary measures to perform Hajj and Umrah events, including booking, visas, accommodation, transportation and other services. The Kingdom has modernized transportation services for pilgrims and Umrah performers including the Al-Haramain Express and the internal transport system in Makkah.
Saudi Technical Initiative
In an important step to enhance the digital presence of the Kingdom, His Highness the Crown Prince launched the “Saudi Digital” initiative which aims to encourage innovation in the technology sector. The initiative includes the launching of a number of new domains for websites in Saudi Arabia” to enhance the Kingdom’s digital identity and facilitate access to local websites.
The initiative also includes the launch of competitions to encourage innovation in the technology sector, the development of digital services and solutions in the Kingdom, as well as providing support to startups and innovators in this field.
Events Investment Fund (EIF)
Early this year, His Royal Highness Prince Mohammed bin Salman Crown Prince, Prime Minister launched the Events Investment Fund to develop sustainable infrastructure to support four promising sectors: culture, tourism, recreation, and sport, as well as building strategic partnerships to boost target sectors, increase opportunities to attract foreign investment and contribute to the achievement of the Kingdom’s Vision 2030 goals by building a prosperous economy and a vital society.
According to official data, the Events Investment Fund aims to develop sustainable infrastructure according to the highest international standards to support the entertainment, tourism, culture, and sports sectors in the Kingdom. In addition, the Saudi authorities aim to develop more than 35 unique sites by 2030.
Establishment of Riyadh Air
At the beginning of the second quarter of this year, the Crown Prince issued a decision to establish the Public Investment Fund for “Riyadh Air” company, a new national air carrier. The establishment is in line with the PIF’s strategy to boost the potential of locally promising sectors to support the diversification of the economy, contribute to the development of the air transport sector, and enhance Saudi Arabia’s strategic position linking three of the world’s most important continents: Asia, Africa, and Europe.
According to official data, the new National Air Carrier, which takes the capital of Riyadh as the main center for managing its operations and a starting point for its flights, seeks to apply the best global sustainability and safety practices adopted in the field of aviation, as well as providing the latest digital technologies for leadership in this field. It also has a sophisticated aircraft fleet
The company is to be managed by a selection of local and international experts. Its Board of Directors is chaired by H.E. Yasser bin Osman Al-Rumayyan, the governor of the Public Investment Fund. Tony Douglas, who has over 40 years of experience in transportation, aviation and logistics, was appointed CEO of the company.
The Line
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Chairman of Neom, announced the designs of the human-centered city of The Line, a leading global model that is expected to achieve sustainability and the ideal of living in harmony with nature. His Highness launched in January last year the idea and initial vision of a city that redefines the concept of urban development and what future cities should be like.
The designs of The Line City are a reflection of what urban communities will be like in a future environment free of streets, cars, and emissions; they will contribute to the conservation of 95% of Neom’s natural land. It will rely on 100% renewable energy, to make human well-being an absolute priority rather than transport and infrastructure as in traditional cities.
“The Line” is only 200 meters wide over 170 kilometers and 500 meters above sea level. The city will be built on an area not exceeding 34 square kilometers; it will have a capacity of about 9 million which is quite unprecedented in cities of this size. This, in turn, will reduce infrastructure expansion, and promote the city’s distinctive efficiency and sustainability. Its perfect year-round climate will ensure people enjoy nature while moving on foot. The Line provides all residents with access to all facilities and services within 5 minutes, as well as a high-speed train that reaches both ends of the city within 20 minutes.
