Saudi Crown Prince launches program to help citizens ‘compete with the world’

Saudi Arabia’s Crown Prince Mohammed bin Salman launched a program to develop human capabilities on Wednesday. (File/SPA)
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Updated 16 September 2021
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Saudi Crown Prince launches program to help citizens ‘compete with the world’

  • Crown prince announced that the program will include 89 initiatives aimed at achieving objectives of Vision 2030
  • The program represents a national strategy aimed at enhancing the competitiveness of human capabilities

RIYADH: Saudi Arabia’s crown prince has set out new targets for kindergarten enrollment and improvements to universities as he unveiled a plan to help Saudi citizens “compete with the world”.

The new program will focus on enhancing values, developing fundamental competencies and skills of the future, and knowledge development, Crown Prince Mohammed bin Salman announced on Wednesday.

The initiative, part of the Kingdom’s Vision 2030 project, aims to increase kindergarten enrolment from 23 percent to 90 percent, and have two Saudi universities ranked among the top 100 higher education institutions in the world within the next nine years.

“Due to my confidence in the capabilities of every citizen, this program has been developed to meet the needs and aspirations of all segments of society,” the crown prince said.

The program will include 89 initiatives aimed at achieving 16 strategic objectives of Vision 2030. 

The program’s strategy will be built on three pillars: developing a resilient and strong educational base, preparing for the future labor market locally and globally, and providing lifelong learning opportunities.

Prince Mohammed said the program will prepare citizens for “the current and future labor market with capabilities and ambitions that compete with the world.”

Mohamed Ramady, London-based independent analyst, welcomed the announcement, and said: “The launch of this program is long overdue and needed as in the final analysis, it's the quality and capability of societal human capital that differentiates nation's economic progress, and this is installed from the earliest years of education as the program hopes to achieve.”

The reforms announced are needed, however, for the economy to see the effects of these reforms, it will take time. "Reforms are needed to improve the quality of education in order to better prepare Saudi citizens for the workforce. Even if these reforms are successful, it will still be a decade at least before the economic benefits materialise," said James Swanston, MENA economist at London-based Capital Economics.


Closing Bell: Saudi main index closes in red at 10,847

Updated 25 February 2026
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Closing Bell: Saudi main index closes in red at 10,847

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Wednesday, losing 58.51 points, or 0.54 percent, to close at 10,847.93.

The total trading turnover of the benchmark index was SR3.78 billion ($1 billion), as 73 of the listed stocks advanced, while 187 retreated.

The MSCI Tadawul Index decreased, down 7.09 points or 0.48 percent, to close at 1,472.98.

The Kingdom’s parallel market Nomu lost 178.75 points, or 0.77 percent, to close at 22,916.83. This comes as 30 of the listed stocks advanced, while 37 retreated.

The best-performing stock was the Power and Water Utility Co. for Jubail and Yanbu, with its share price surging by 8.47 percent to SR31.24.

Other top performers included Saudi Paper Manufacturing Co., which saw its share price rise by 6.13 percent to SR53.70, and Jamjoom Pharmaceuticals Factory Co., which saw a 4.58 percent increase to SR137.

On the downside, the worst performer of the day was CHUBB Arabia Cooperative Insurance Co., whose share price fell by 5.14 percent to SR17.53.

Saudi Kayan Petrochemical Co. and Arabian Internet and Communications Services Co. also saw declines, with their shares dropping by 4.87 percent and 4.43 percent to SR4.88 and SR181.40, respectively.

On the announcement front, Saudi Kayan Petrochemical Co. announced its annual financial results for 2025, with sales dropping 3.06 percent year-on-year to SR8.45 billion. The company also recorded a net loss of SR893.86 million.

In a Tadawul statement, the company said the net loss and decline in annual sales were driven by a drop in average selling prices, despite higher sales volumes.