26 Jumada II 1446 - 27 December 2024
    
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Eye of Riyadh
Business & Money | Wednesday 4 December, 2024 10:37 am |
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Crown Prince unveils National Red Sea Sustainability Strategy

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister and Chairman of Economical and Development Affairs Council, launched the National Red Sea Sustainability Strategy.

 

According to the Saudi Press Agency (SPA), the strategy aims to protect the Red Sea ecosystem, enhance cooperation frameworks for its sustainability, and empower society.

 

In line with the Kingdom’s Vision 2030 objectives, the strategy supports the transition to a sustainable blue economy that achieves economic diversification, in tandem with the national priorities for the research, development, and innovation launched earlier.

 

Saudi Arabia continues to unleash its economic, geographical, and cultural potential, and its pioneering efforts in sustainability and environmental conservation, the Crown Prince said.

 

Under this strategy, the Kingdom strengthens the position of the blue economy as a fundamental pillar of its economy. It aspires for the Red Sea region to become a reference for best practices in the blue economy, and for Saudi Arabia to become a global leader in the field of research, development, and innovation in the blue economy.

 

The Kingdom also affirms its commitment to a sustainable future for the Red Sea, looking forward to global cooperation to protect its coasts on the Red Sea, nature, and the communities that depend on it.

 

The strategy sets out a comprehensive national framework that outlines how to preserve and revitalize the Red Sea’s natural treasures, ensuring that citizens, residents, and visitors can enjoy them and sustain them for future generations.

 

The strategy highlights how protecting the natural environment will unlock the region’s economic potential and initiate the transition to a blue economy, creating investment opportunities for innovative companies in various maritime sectors, including ecotourism, fisheries, renewable energy, desalination, shipping, and industry.

 

It aims to increase the coverage of marine and coastal protected areas from 3% to 30% by 2030, in addition, to supporting the contribution of renewable energy to reach 50% of the targeted energy mix, provide diverse job opportunities related to the blue economy activities, and protect the Kingdom’s investments in tourism projects in coastal areas, which contributes to boost the gross domestic product (GDP).

 

The strategy is based on five strategic objectives: environmental sustainability, economic development, social development, safety and security, governance, and cooperation. It includes 48 qualitative initiatives developed to achieve the Kingdom’s ambitions in the blue economy and related activities.

 

The strategy announcement highlights the Kingdom’s pivotal role in protecting natural resources in light of the global environmental and climate challenges. It also charts a new path that combines economic growth and ecological sustainability.

 

The Red Sea is one of the most distinctive and biologically diverse regions of the Kingdom. It is a natural region with an area of 186,000 square kilometers, a coastline of 1,800 kilometers, the fourth largest coral reef system in the world, home to 6.2% of the world's coral reefs, and an archipelago that embraces hundreds of islands.

 

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