1) The document discusses three millennial leaders in the Middle East - Deputy Crown Prince Mohammed bin Salman of Saudi Arabia, Crown Prince Sheikh Hamdan bin Mohammed of Dubai, and Emir Sheikh Tamim bin Hamad of Qatar.
2) It describes how each leader is bringing ambitious reforms and visionary plans to transform their countries' economies and engage with youth.
3) In particular, it highlights how Mohammed bin Salman and Sheikh Hamdan have captured the imagination of youth in their countries and the region with their modernizing agendas and personal styles of engaging leadership.
Nigeria's Solid Minerals Sector: Alternative Investment OpportunitiesAbove Whispers
Being the text of the keynote address by
H.E. Dr. Kayode Fayemi
Minister of Solid Minerals Development
Federal Republic of Nigeria
at the session organized by the
ALL-PARTY PARLIAMENTARY GROUP (APPG) ON NIGERIA
United Kingdom Parliament
London, United Kingdom | Thursday, May 19, 2016
Nigeria's Solid Minerals Sector: Alternative Investment OpportunitiesAbove Whispers
Being the text of the keynote address by
H.E. Dr. Kayode Fayemi
Minister of Solid Minerals Development
Federal Republic of Nigeria
at the session organized by the
ALL-PARTY PARLIAMENTARY GROUP (APPG) ON NIGERIA
United Kingdom Parliament
London, United Kingdom | Thursday, May 19, 2016
While the non-oil private sector is relatively small in Saudi Arabia, it has potential to drive much of the growth. Already during the 2003–13 period, the non-oil private sector outperformed the economy as a whole, albeit starting from a low base. It grew at about 10 percent annually, much faster than the overall 6 percent GDP growth rate. Growth was broadly based, with consumption-based sectors such as transport, communications, retail and wholesale trade, and business services growing the fastest.
Indian Prime Minister Narendra Modi’s first visit to the UAEBrunswick Group
An overview of the first to the UAE by an Indian Prime Minister for 34 years, what this means for companies in both countries and why the UAE-India relationship is crucial.
For more information please contact our Abu Dhabi or Dubai offices.
Abu Dhabi: www.brunswickgroup.com/contact-us/abu-dhabi/
Dubai: www.brunswickgroup.com/contact-us/dubai/
Remarks made by Ambassador James Smith, U.S. Ambassador to the Kingdom of Saudi Arabia, at the 2010 U.S.-Saudi Business Opportunities Forum in Chicago, IL.
C
hatham
H
ouse
Research Paper
Jane Kinninmont
Middle East and North Africa Programme | July 2017
Vision 2030 and Saudi
Arabia’s Social Contract
Austerity and Transformation
Vision 2030 and Saudi Arabia’s Social Contract: Austerity and Transformation
| Chatham House 1
Contents
Summary 2
1. Introduction 3
2. Vision 2030 9
3. The Saudi Social Contract 17
4. Vision 2030: Disrupting the Social Contract? 26
5. Consulting the Public? 37
6. Conclusion 40
About the Author 43
Acknowledgments 44
Vision 2030 and Saudi Arabia’s Social Contract: Austerity and Transformation
| Chatham House 2
Summary
• It is now generally accepted that the rulers and citizens of Saudi Arabia must come to terms with
a future in which oil resources play a far less significant role in the economy than has historically
been the case. This is bound to change the implicit social contract between the government and
its key constituencies.
• Saudi Arabia has a long-term plan – as part of its wide-ranging Vision 2030 strategy – to reduce
the economy’s reliance on oil and the state by boosting investment in the private sector. Vision
2030 essentially continues, in amplified and expanded form, policies that the country has had in
place for some decades. These have had some successes in generating non-oil growth and
encouraging some Saudis to work in the private sector, but implementation has repeatedly fallen
short of the ambitious targets that have been set, with the result that the Saudi economy remains
overwhelmingly dependent on oil-fuelled government spending.
• Vision 2030 is prominently associated with King Salman’s son Mohammed bin Salman – or
‘MBS’ – newly promoted to crown prince as of June 2017. The strategy has helped to brand MBS
as a figure of considerable influence both within Saudi Arabia and internationally. But if it is
seen as unsuccessful, existing criticisms of his individual leadership style are likely to deepen
among those who resent his rapid rise. Personality politics within the royal family could thus
end up being a distraction from the fundamental need to implement economic diversification.
• If the government’s ability to distribute largesse to the population is curtailed for the long term,
it will need to focus on alternative sources of legitimacy. This could mean greater consultation
and public involvement in decision-making, or, perhaps more likely, emphasizing the
importance of royal rule as a bulwark against insecurity, terrorism and chaos, while maintaining
or intensifying an authoritarian model of rule.
• Vision 2030 implies a degree of social liberalization to enable the growth of the entertainment
and tourism industries, as well as extensive reforms to the education system, traditionally a
stronghold of Saudi Arabia’s religious clerics. If followed through, this would transform relations
between the state and its citizens, politically and socially a.
India, Singapore, Middle East and Africa – quarterly reviewBrunswick Group
This quarterly newsletter focuses on the three overarching themes impacting the region: Connectivity, Commodities and Energy, and the Rising New Middle Class. The unprecedented connectivity between these nations is enabling unprecedented movement of people, goods, services, and ideas accelerated by innovation and new technologies. Their economies are driven by commodities and energy fueling economic growth and creating future opportunity, while presenting long-term challenges from pollution to climate change.
Saudi Arabia economic transition beyond oilBruno Gremez
Very interesting report prepared by Mc Kinsey in December 2015, which resonates today as we have heard about many key initiatives taken by Crown Prices Mohammad bin Salman.
The year of tolerance has come to an end and its time for a new beginning. This time the government of UAE has decided to take a different route, by developing a plan for the upcoming fifty years..
While the non-oil private sector is relatively small in Saudi Arabia, it has potential to drive much of the growth. Already during the 2003–13 period, the non-oil private sector outperformed the economy as a whole, albeit starting from a low base. It grew at about 10 percent annually, much faster than the overall 6 percent GDP growth rate. Growth was broadly based, with consumption-based sectors such as transport, communications, retail and wholesale trade, and business services growing the fastest.
Indian Prime Minister Narendra Modi’s first visit to the UAEBrunswick Group
An overview of the first to the UAE by an Indian Prime Minister for 34 years, what this means for companies in both countries and why the UAE-India relationship is crucial.
For more information please contact our Abu Dhabi or Dubai offices.
Abu Dhabi: www.brunswickgroup.com/contact-us/abu-dhabi/
Dubai: www.brunswickgroup.com/contact-us/dubai/
Remarks made by Ambassador James Smith, U.S. Ambassador to the Kingdom of Saudi Arabia, at the 2010 U.S.-Saudi Business Opportunities Forum in Chicago, IL.
C
hatham
H
ouse
Research Paper
Jane Kinninmont
Middle East and North Africa Programme | July 2017
Vision 2030 and Saudi
Arabia’s Social Contract
Austerity and Transformation
Vision 2030 and Saudi Arabia’s Social Contract: Austerity and Transformation
| Chatham House 1
Contents
Summary 2
1. Introduction 3
2. Vision 2030 9
3. The Saudi Social Contract 17
4. Vision 2030: Disrupting the Social Contract? 26
5. Consulting the Public? 37
6. Conclusion 40
About the Author 43
Acknowledgments 44
Vision 2030 and Saudi Arabia’s Social Contract: Austerity and Transformation
| Chatham House 2
Summary
• It is now generally accepted that the rulers and citizens of Saudi Arabia must come to terms with
a future in which oil resources play a far less significant role in the economy than has historically
been the case. This is bound to change the implicit social contract between the government and
its key constituencies.
• Saudi Arabia has a long-term plan – as part of its wide-ranging Vision 2030 strategy – to reduce
the economy’s reliance on oil and the state by boosting investment in the private sector. Vision
2030 essentially continues, in amplified and expanded form, policies that the country has had in
place for some decades. These have had some successes in generating non-oil growth and
encouraging some Saudis to work in the private sector, but implementation has repeatedly fallen
short of the ambitious targets that have been set, with the result that the Saudi economy remains
overwhelmingly dependent on oil-fuelled government spending.
• Vision 2030 is prominently associated with King Salman’s son Mohammed bin Salman – or
‘MBS’ – newly promoted to crown prince as of June 2017. The strategy has helped to brand MBS
as a figure of considerable influence both within Saudi Arabia and internationally. But if it is
seen as unsuccessful, existing criticisms of his individual leadership style are likely to deepen
among those who resent his rapid rise. Personality politics within the royal family could thus
end up being a distraction from the fundamental need to implement economic diversification.
• If the government’s ability to distribute largesse to the population is curtailed for the long term,
it will need to focus on alternative sources of legitimacy. This could mean greater consultation
and public involvement in decision-making, or, perhaps more likely, emphasizing the
importance of royal rule as a bulwark against insecurity, terrorism and chaos, while maintaining
or intensifying an authoritarian model of rule.
• Vision 2030 implies a degree of social liberalization to enable the growth of the entertainment
and tourism industries, as well as extensive reforms to the education system, traditionally a
stronghold of Saudi Arabia’s religious clerics. If followed through, this would transform relations
between the state and its citizens, politically and socially a.
India, Singapore, Middle East and Africa – quarterly reviewBrunswick Group
This quarterly newsletter focuses on the three overarching themes impacting the region: Connectivity, Commodities and Energy, and the Rising New Middle Class. The unprecedented connectivity between these nations is enabling unprecedented movement of people, goods, services, and ideas accelerated by innovation and new technologies. Their economies are driven by commodities and energy fueling economic growth and creating future opportunity, while presenting long-term challenges from pollution to climate change.
Saudi Arabia economic transition beyond oilBruno Gremez
Very interesting report prepared by Mc Kinsey in December 2015, which resonates today as we have heard about many key initiatives taken by Crown Prices Mohammad bin Salman.
The year of tolerance has come to an end and its time for a new beginning. This time the government of UAE has decided to take a different route, by developing a plan for the upcoming fifty years..
1. Cover Story
20 TRENDS | June 2016
They are in their 30s. They have a vision.
And they have captured the imagination
of the new generation. By Shafquat Ali, Dubai
20-27-TRE-214-Cover Story-Leaders.indd 20 5/30/16 4:54 PM
2. June 2016 | TRENDS 21
isionary thinking. Bold moves.
A can-do attitude. Armed with
the necessary tools and skill-sets
to shape a brighter future, a new
generation of leaders is bringing hope
in these troubled times. And, slowly but
surely, these millennials are redefining
the Middle East and fast changing how
the world at large perceives the region.
If the 30-year-old architect of Saudi
Vision 2030, Deputy Crown Prince
Mohammed bin Salman, is promising
to usher in a new era by overhauling
the Saudi economy with a series of
path-breaking and unheard-of reforms,
33-year-old Dubai Crown Prince Sheikh
Hamdan bin Mohammed bin Rashid Al
Maktoum is gearing up to propel Dubai to
the next stage in its growth by following
in the footsteps of his father, Sheikh
Mohammed bin Rashid Al Maktoum,
Vice-President and Prime Minister of the
UAE and Ruler of Dubai.
On the other hand, 36-year-old Qatari
Emir Sheikh Tamim bin Hamid Al Thani,
the GCC’s youngest reigning monarch, is
making bold and long-lasting changes.
After making it plain to Qataris that the
government can no longer “provide for
everything”, he is changing the citizens’
mindsets by urging an end to wasteful
government spending, corruption and
bureaucracy that inhibits entrepreneurship.
The youth in particular are looking
up to these millennial leaders to bring
about long-lasting economic reforms to
help sustain the region, given the low oil
prices. Justin Whitehouse, global public
sector tax leader, Deloitte, opines that the
millennial leaders are moving in the right
direction. “The recent overall reforms are
accompanied by complementary fiscal
reforms, signaling that GCC countries are
seeking to normalize their fiscal systems,
bringing them in line with the larger
economies of the world,” he told TRENDS.
“An interesting point about this
leadership group is that, even if they are
young in age, they are demonstrating
personal agility and traits of engaging
leadership,” Mina Morris, associate partner
at Aon Hewitt Middle East, told TRENDS.
“These leaders are constantly aligning and
re-prioritizing in response to the changing
economic environment and have the ability
to get the best out of their people.”
He added: “As engaging leaders, they
are adept at balancing three competing
attributes. First, they are ‘mobilizers’,
able to embrace change and look for ways
to transform people and set practices.
Second, they are ‘stabilizers’, able to as-
sert a positive influence and maintain
optimism during difficult times. And, fi-
nally, they are ‘ambidextrous’ – able to find
win-win solutions for all stakeholders.”
By all accounts, this is the stuff
that millennial leaders like Prince
Mohammed, Sheikh Hamdan and
Sheikh Tamim are made of.
Man on a mission
When Saudi Arabia’s King Salman bin
Abdulaziz named him as the Deputy
Crown Prince a year ago, few outside the
royal circle knew who Prince Mohammed
bin Salman was. The Western media
in particular scrambled to find more
information as it became clear that a
new, younger leadership was emerging in
Saudi Arabia.
One important reason for this lack of
information was that he did not go abroad
for higher education, like most other
V
20-27-TRE-214-Cover Story-Leaders.indd 21 5/30/16 4:54 PM