The Saudi Arabian 10th Five-Year Development Plan from 2015-2020 Essay

The Saudi Arabian 10th Five-Year Development Plan from 2015-2020 - Essay Example From the report it is clear the tenth five years development plan mainly aims to strengthen the economy and promote economic growth, competitiveness and stability. The plan also focuses on enhancing the institutional reforms and increases the productivity and the efficiency of the state agencies. The construction industry output is expected to increase by 10.98%. The problem or the challenges related to the increase in population is likely to overcome by developing the housing and infrastructure facilities of the country or the nation. It also focuses on development and improvement of its tourism industry for decreasing its dependence on the oil sector for generating revenue in the economy. As the essay stresses the Gulf Cooperation Council aims to develop the cross border trade and reducing the rapid population growth. The minister for Atomic and Renewable energy announced that the total installation capacity is required to be increased by reducing the dependence on hydrocarbons and strengthening its relationship with China and other neighboring countries. An agreement was signed between the Chinese government and Saudi Arabia for increasing production and the peaceful utilization of the renewable and the nuclear energy. The railway master plan of Saudi Arabia focuses on the conceptual framework required for the long term development of the country’s passenger and improving the railway transport network. The investment in the tourism and travel sector of the country is likely to increase by more than 33.5 billion by the end of the year 2020.