Saudi Arabia is redoing its reform plan to revamp its government and economy by 2020, after the previously launched plan overlapped with other programs, Bloomberg reported.
The new version of the National Transformation Program (NTP) is believed to be more focused and have clear governance plans, according to an official document seen by Bloomberg.
The redraft does not call for key changes in the Kingdom’s fiscal or energy-related targets, but it is needed for an optimum coordination with Crown Prince Mohammed bin Salman’s broader Saudi Vision 2030.
Vision 2030 was first announced in April 2016, while NTP had already been in development.
The revamped NTP will still run to 2020, but its implementation will also involve developing targets for 2025 and 2030, including goals such as improving the public sector’s productivity, boosting women’s participation in the workforce and developing tourism.
Workshops to prepare the new NTP started at the end of July and a final report is due to be delivered to the government by the end of October, Bloomberg reported.
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