His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince of Saudi Arabia, Prime Minister and Chairman of the Council of Economic and Development Affairs, recently launched the National Red Sea Sustainability Strategy.
The strategy aims to protect the Red Sea, empower communities and pave the way for the transition to a blue economy. It also aligns with Vision 2030‘s economic diversification targets and the recently announced national priorities for RDI, specifically the Sustainable Environment and Supply of Essential Needs.
“The Kingdom of Saudi Arabia continues to unleash its enormous economic, geographical and cultural potential and its pioneering efforts in sustainability and environmental conservation. Through this strategy, the Kingdom positions the blue economy as a fundamental pillar of its diversified economy and aspires for the Red Sea region to become a global reference for leading blue economy activities and for the Kingdom to become a global leader in the field of research, development and innovation in blue economy,” stated the Crown Prince.
Five key objectives and 48 initiatives
To support the national economy, the National Red Sea Sustainability Strategy aims to increase the coverage of marine and coastal protected areas from 3 percent to 30 percent by 2030. Moreover, it seeks to raise the contribution of renewable energy in the energy mix to 50 percent. It also aims to create thousands of new job opportunities in the blue economy and protect the Kingdom’s investments. The strategy will protect Saudi Arabia’s investments in coastal tourism projects which will potentially contribute to the country’s annual GDP.
“The Kingdom also reaffirms its commitment to a sustainable future for the Red Sea, and we look forward to everyone’s cooperation in protecting our Red Sea Coast and the nature and communities that depend on it,” Prince Mohammed added.
The National Red Sea Sustainability Strategy includes 5 strategic objectives:
- Environmental sustainability.
- Economic development.
- Social development.
- Safety and security.
- Governance and collaboration.
It also includes 48 initiatives that aim to achieve Saudi Arabia’s ambitions for the blue economy. The announcement of the strategy highlights the central role that Saudi Arabia plays in protecting natural resources in light of the environmental and climate challenges that the world is experiencing today. Moreover, it charts a new path that combines both economic growth and environmental sustainability.
Read| COP16: NEOM green hydrogen facility to meet 10 percent of global production targets
Unlocking region’s economic potential
The Red Sea is one of Saudi Arabia’s unique and biodiverse regions. It has an area of 186 thousand square kilometers, with a 1,800 km coastline. The Red Sea is also home to the world’s fourth-largest barrier reef system, making up 6.2 percent of the world’s coral reefs.
The National Red Sea Sustainability Strategy sets out a comprehensive national framework to preserve and regenerate the natural treasures in the Red Sea, ensuring that citizens, residents and visitors enjoy them and sustain them for generations to come.
The strategy also highlights the contribution of protecting the natural environment in unlocking the economic potential of the region and initiating the transition to the blue economy, creating investment opportunities for innovative companies in various marine sectors, including ecotourism, fisheries, renewable energy, water desalination, shipping and industry.
