19/09/2022 – The best development opportunities at the international level go hand in hand with the growth figures of the countries where there are reforms, innovative projects and acceptance by investors.
As always, a common element to these conditions of development is the ability of a market to show vitality and vision, not just the presence of resources or places to invest. And in the current international scene, Saudi Arabia it recorded the largest increase in gross domestic product in the last ten years and was indicated by the rating agency Standard&Poor's as a market with excellent long-term development prospects.
Beyond the technical-financial reasons that led Saudi Arabia to a rapid recovery after the pandemic, however, there are also other reasons that reside in an ability to see beyond and develop a future plan for the country; and this plan is the “Vision 2030“.
Under the hat of “Vision 2030” initiatives that embrace society so much are included, as much as the Saudi economy and which affect the welfare of the population above all. Increase average life expectancy and review the role of women, create a sovereign investment fund that focuses on innovation and technology but also become one of the first global economic powers, while reducing the contribution of oil from the total gross domestic product, also focusing on impressive and exotic infrastructural plans that form the backbone of an effective system on which to create development.
Naturally, special attention was paid to an important investment to design and build a metaverse capable of integrating and improving the life experience in the cities of the future, addressing this technological environment more to services than to business, with the strategic goal of making Saudi Arabia a place capable of attracting foreign talent and investment.
A particular commitment is reserved for creating an ecosystem that is advantageous for local and non-local start-ups, consider yourself the real engine of innovation and above all of the freshest and most promising ideas. To this end, initiatives have been designed to facilitate the access of start-ups from foreign countries with which the Saudi government collaborates and intends to strengthen economic ties: among these for example The Garage: Start-up District. The term garage was chosen to celebrate the pioneering spirit that has allowed many Silicon Valley companies to rise from their humble beginnings, becoming giants. In practice, Riyadh will host a new district dedicated to start-ups and companies that will have to incubate and make them grow, a mix of infrastructures, research centers, universities and all that is needed to create the humus necessary to ensure that good ideas become excellent products.
A strategy that focuses entirely on innovation, but it does so from a different angle. Not directly product and industry innovation, when the innovation of the way of life, work and intend the future, setting the creation of an attractive socio-economic ecosystem as an objective in the Master Plan. An example that perhaps even here in Italy we should develop with our culture and our geo-economic context.
