Saudi Arabia's Vision 2030 (2016-present)
Saudi Arabia launched Vision 2030 in April 2016 to reduce its dependence on oil. The plan aimed to grow non-oil revenue, expand the private sector, and diversify the economy beyond hydrocarbons.
The program has had mixed results, with non-oil GDP growing but oil still dominating exports and government revenue.
Saudi Arabia's non-oil sector now accounts for about half of GDP, though oil revenues still fund most government spending.
Like Kazakhstan, Saudi Arabia is a major oil producer trying to diversify. Kazakhstan's progress shows a similar strategy can work, at least in the short term.
