The conference entitled 'Balanced Development: Studies in the King Salman Economic Vision' concluded its second day with four sessions in which thirteen scientific papers were presented. King Khalid University hosted the conference organized by the Faculty of Business.

Shura Council Member Dr. Mohammed Abdullah Al-Abbas chaired the fifth session. Dr. Abdul Hamid Nour began the session with a presentation on sourcing within Saudi Arabia. The topic explored the plans and progress towards the national goal of sourcing more products and services from within the Kingdom. Sourcing locally is an important element of Vision 2030, which fundamentally is to reduce reliance on imports and create additional economic activity within our borders. Dr. Nour noted that this strategy requires a restructuring of existing policies and customs for private enterprise throughout the nation. He further explained that this economic restructuring must be sustainable over the long term to ensure the availability of goods and services while maintaining financial stability. He then reviewed various progress milestones and some of the government-business partnerships that helped achieve these goals.

King Khalid University Economics Professor Ahmed Shamoon presented a paper on the national manufacturing sector. Increasing domestic industrial production is a strategic objective of the national development program. Dr. Shamoon explained that growing the economy is necessary to support a growing population. Increasing manufacturing output is fundamental to increasing economic activity as measured by Gross Domestic Product (GDP). Dr. Shamoon recounted the nation’s progress in increasing industrial output as per Vision 2030.

Dr. Baghdad Benin from the University of Hema Le Khadra presented a paper 'The Impact of Government Investment Spending on Economic Growth: An International Study of the Oil Economies of the UAE, Saudi Arabia, and Algeria'. His research quantified how government expenditures affect private industry and the resultant overall impact on GDP.

King Khalid University Dean of the Faculty of Business, Dr. Fayez bin Dhafra, chaired the sixth session on business and economics in in which several visiting professors presented three research papers. Dr. Anis Ali from the Faculty of Business Administration at Prince Sattam bin Abdulaziz University presented a paper titled 'Briefing on SMEs'. He reviewed the status and planned restructuring on the role of small and medium sized enterprises within the Kingdom. Dr. Mohamed Imadat Al Haq also from Prince Sattam University presented his paper on the diversification of exports from Saudi Arabia. He explained efforts to increase non-petroleum exports from the Kingdom. The Dean of the Jubera Institute of Management in India, Dr. Moayad Ahmed, presented a research paper on Islamic finance sustainability and balanced development. He explained intelligent methods for maintaining economic stability during periods of rapid growth.

Dr. Meri Al-Habash, Head of the Corporate Governance Center at King Khalid University, introduced Dr. Ahmed Khalil from Beni Suef University in Egypt. Dr. Khalil presented a paper titled 'The Role of Balanced Economic Development in the Diversification of Economic Structure in Saudi Arabia'. The research highlighted the challenges and opportunities inherent in the Kingdom's diversification strategy. He also reviewed the various methodologies in balanced development programs during times of rapid growth and fundamental restructuring of public and private institutions. The session also included a second scientific paper presentation by Dr. Ahmed Shamoon from King Khalid University. Dr. Shamoon's paper, titled 'The Impact of Inflation on Economic Growth in Saudi Arabia: A Standard Study for the period 1986-2015', explores the relationship between the rate of inflation (change in M2 money supply), with the growth rate in national GDP over the long term.

Dr. Rokaya Karatat from King Khalid University presented a paper titled 'The Impact of Balanced Economic Development on Solving the Unemployment Problem in Saudi Arabia'. Her research indicates how education is an integral component of balanced development. Dr. Karatat explained that schools and universities must prepare the citizenry to meet future labor market demands in order to achieve sustainable development.

King Khalid University Dean of the Institute of Research and Advisory Studies, Dr. Abdul Latif Al-Hadithi, chaired the eighth session of the conference and presented a paper titled 'Economic Intelligence as an Approach to the Development of Small and Medium Enterprises and Activating the Role of the Private Sector in Balanced Development in Saudi Arabia'. Dr. Omar Huwta Adrar from Algeria was also involved in the presentation. The purpose of the study was to explore economic intelligence models pertaining to domestic small and medium-sized enterprises (SMEs) in economic development objectives as set forth in Vision 2030. He explained how SMEs play a critical role in increasing economic activity and GDP.

Professor Mona Al-Sayyid, Najran University, presented a scientific paper titled 'Vision 2030 and Development Challenges in Saudi Arabia: Economic Challenges'. She discussed the various economic models and appurtenant policies that the Kingdom is employing in its development strategy. Prof. Al-Sayyid reviewed the different methodologies for maintaining balanced growth while enhancing the nation’s economic competitiveness on a global scale.

Dr. Dawood Al-Daoud from the Department of Science and Theory Studies at Saudi Electronic University presented a paper entitled 'Vision 2030 and the Legal Principles of the World Trade Organization (WTO)'. He discussed how the strategies and goals set forth in Vision 2030 comport with and relate to WTO rules and regulations. He further explained the ways in which the Kingdom will be further participating in international business and the legal framework for expansion in various regions and countries.

The Director of Research and Consulting Department at the Institute of Public Administration in the Eastern Region, Dr. Jafar Al-Alwan, presented a paper titled 'The Challenges of Strategic Planning for Charity Institutions in accordance with the Vision of the Kingdom 2030'. Philanthropic organizations are an integral part of Islam and Saudi culture. Dr. Alwan explained that the restructurings of Vision 2030 are so broad and far-reaching that even charitable and community service organizations will be affected. He reviewed how philanthropic entities must consider national development and Vision 2030 in their strategic planning activities.

The two-day conference provided a plethora of useful information. These events help prepare individuals and businesses for the socioeconomic changes that have already begun in the Kingdom.