All Round View (Peshawar); A G20 gathering is usually a chance for the host nation to promote itself in the best possible light. But the leaders’ summit taking place this weekend is happening under the pall of a pandemic.
Due to COVID-19, the summit will be held virtually, depriving its host, Saudi Arabia. The opportunity to blanket screens around the world with orchestrated scenes of a forward-looking kingdom in the throes of an exciting transformation. An image from its factor leader, Crown Prince Mohammad bin Salman(MBS) has long sought to project.
Like most rebranding efforts, Saudi Arabia is driven in large part by economic necessity.
As the world gets better at limiting greenhouse gas emissions, fossil fuels will fall out of favor. Bad news when more than 80 percent of your government revenues come from selling crude oil.
The kingdom needs to diversify its economy and it does not have long to do it. The ticking clock is reflected in the name of MBS’s ambitious plan for economic transformation: Vision 2030.
The blueprint entails weaning Saudi Arabia off oil by reinvesting crude profits into sustainable industries of the future to create jobs for its youthful population.
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