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Saudi Arabia Celebrates Its 88th National Day on Sunday 23/9/2018.

9/23/2018 12:00:00 AM   |      |   

Saudi Arabia Celebrates Its 88th National Day on Sunday 23/9/2018.  

On Sept. 23, Saudi Arabia observes National Day, in recognition of the date in 1932 on which the country was founded by King Abdul Aziz, known in the West as Ibn Saud.

It was during King Abdul Aziz’s reign that oil was discovered in commercial quantities, when in March 1938 “black gold” was struck at the site known as Dammam Well No. 7, or “the Prosperity Well.”

And prosper Saudi Arabia did. The oil boom brought untold riches to the Kingdom — yet the country became over-reliant on the energy industry, forming what Crown Prince Mohammed bin Salman has called an “addiction” to oil.

It is the crown prince’s bold — and, say many, ambitious — Vision 2030 reform plan that aims to overcome that addiction.

The plan, unveiled in 2016, is a comprehensive blueprint for the future, laying out a strategy, and clear targets, to diversify Saudi Arabia’s economy, and develop public service sectors such as health, education, infrastructure, recreation and tourism.

Saudi Arabia — despite, as some news outlets tell us, being so “oil rich” — is also embarking on a plan to boost renewable energy. As part of the Vision 2030 program, Saudi Arabia plans to meet 10 percent of its power demand from renewable sources by 2023 — and it fully expects to exceed this target. The country’s planned megacity — the $500 billion NEOM project, announced last year — will run entirely on renewables.

As is becoming increasingly clear to the world, Saudi Arabia is no longer a “desert Kingdom,” nor will it be oil-rich forever.

It is rich in other ways: In its youth, its leadership, and its bold plan to transform over the next 12 years in a way it has never done before.

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