Saudi Arabia to celebrate a day of allegiance & eighth year of economic prosperity
The third day of Rabi’ al-Thani 1444 AH marks the eighth anniversary of the accession of the Custodian of the Two Holy Mosques, Saudi King Salman bin Abdulaziz Al Saud – may God protect him – to the reins of government.
On the day of cohesion, loyalty, and gratitude for a remarkable accomplishment, the Kingdom of Saudi Arabia and its people celebrate the eighth blessed anniversary of King Salman bin Abdulaziz bin Abdulrahman Al Saud’s rule, the Custodian of the Two Holy Mosques. May God protect him.
As the country enters its eighth year of economic prosperity, it is aiming to become the most powerful country in the integrated energy sector in the world. This includes a leading role in oil, gas, refining, and chemical production.
Saudi Arabia adopts the renewable, clean, and green energy industry, and explores the depths of nuclear and space energy.
Riyadh, Saudi Arabia’s capital, is the compass for solutions to the global energy market turmoil, as well as a legislator for the largest agreements and deals to reduce world production in the OPEC + alliance in the history of the oil industry, restoring market stability and boosting global growth.
Saudi Arabia is now enjoying its most glorious era in terms of various aspects of a decent life. Enhancing citizen empowerment, engaging the private sector more, and achieving increased productivity will lead to more success and progress in meeting the aspirations and ambitions of Saudi Arabia.
The Kingdom celebrated the launch of several national strategies and programs. To promote infrastructure development in vital sectors, and improve the quality of services provided to citizens,
At the same time, the National Development Fund encouraged the private sector to contribute more than three times as much to the growth of GDP and development.
The Kingdom is moving at an accelerating pace towards facing environmental challenges, foremost of which is climate change, targeting zero emissions neutrality, launching and adopting a package of initiatives that will contribute – God willing – to reducing carbon emissions by (278) million tons annually, by 2030.
Renewable energy will share 50% of the electricity production capacity. This is the initiative of the Saudi Energy Efficiency Program. In addition, the construction of one of the world’s largest centers for the production of green hydrogen in the city of NEOM. Investments worth 700 billion riyals will contribute to the development of the green economy.
Due to Saudi monetary, financial and economic policy, the Kingdom was able to reduce the effects of inflation and record rates that are among the lowest in the world. In addition, the unemployment rate continued to decline.
The World’s largest oil and gas company, Saudi Aramco, is in its backyard. The country boasts the largest supply and export of reliable energy in the world, the fastest growth in energy technology, the greatest concentration of oil and gas wells in the world, the leading financier and supporter of settlement projects, and the most successful implementation of all productive policies.
