JEDDAH: A feature in the US Wall Street Daily, published on Wednesday, described the character of Deputy Crown Prince Mohammed bin Salman’s strong leadership and impressive ambition as largely capable of realizing the Kingdom's Vision 2030 and transforming its economy into a world producer of non-oil energy.

These ambitions will present tremendous opportunities for investors from inside and outside the Kingdom with substantial returns, while there will be great demand for international bonds which will cover any funding gap caused by the decline in global oil prices, the report indicated.

The report, authored by Tim Maverick, confirmed that stunning developments await the Saudi economy despite the global economic crises, while the ambitions of the deputy crown prince will help realize Vision 2030, change the rules of the game in the field of energy, and greatly support impressive chances of success of the Kingdom.

The article went on to say that differences in political views between Saudi Arabia and the United States will not affect the Kingdom’s pursuit of implementing its ambitious program to abandon oil and generate other forms of energy.

Prince Mohammed’s zeal in achieving Vision 2030 will also contribute to eliminating some of the bureaucracy that may impede mega-projects, in turn enhancing the Kingdom’s ability to become a global hub for energy by 2030.

While Saudi Arabia’s vision is to transition into becoming as much an exporter of sun-generated solar energy as it has historically been an exporter of oil, Maverick explained that obstacles include the country’s extreme heat and raging sandstorms, but by joining in on venture capital funding with California company Solexel Inc., a producer of thinner and cheaper photovoltaic panels that withstand heat and dust, a solution is already underway.

With the elimination of bureaucracy, which has typically impeded and delayed mega-projects, the Vision 2030 aims to produce solar energy equivalent to 14 percent of current generating capacity and will require a significant “jump in action” in order to reach this goal.

As for the argument that Prince Mohammed simply cannot afford to executive his vision without massive investments amid widely difficult economic times, the report cited the country's $700 billion worth of foreign exchange reserves and “inadvertent” assistance from the world’s central bankers that will be more than enough to accomplish the task.