Strategic Risk Review Strategic Risk and Compliance Planning in Saudi Arabia a Unified Framework for Vision 2030 Transformation

Abstract

Saudi Arabia’s Vision 2030 is one of the world’s most powerful national transformation programmes designed to diversify the economy, reform society and speed up technological progress across all sectors of the Kingdom’s economy. As organizations become increasingly aware of the many trends that could impact their security, the risk landscape is now as multifaceted, from regulatory, technological, geopolitical, and operational perspectives, as ever before. The authors proposed a blended Strategic Risk and Compliance Planning (SRCP) framework that combines the elements from the COSO Enterprise Risk Management (ERM) framework, the Saudi Data and AI Authority (SDAIA) regulations, and the guidelines from the ISO 31000, along with the Saudi Central Bank (SAMA), Capital Market Authority (CMA), the National Cybersecurity Authority (NCA), the Zakat, Tax and Customs Authority (ZATCA). The Vision 2030 Annual Report 2025 highlights the scale and direction of these structural changes: SMEs contribute 22.9% to GDP, female labor force participation is 34.5%, and non-oil activities currently account for roughly 55% of GDP. Concurrently, the regulatory environment has been growing as well, incorporating the necessary cybersecurity baselines of the NCA (the Essential Cybersecurity Controls (ECC-2:2024); the strict obligations under the data governance of the PDPL (the Personal Data Protection Law) entered into force from September 2024; and the new tax compliance requirements due to the phased implementation of ZATCA’s e-invoicing registration. The vision’s transition from 2030 is not only an economic roadmap but a reimagining of the platform where risks and compliance will exist for all entities in Saudi Arabia. The article introduces a unified approach to ensure equivalent international requirements meet Saudi jurisdiction regulatory requirements. It is action-oriented: research findings are paired with strategic recommendations, sector-specific applications are clarified across banking, health care, energy, and technology, and an implementation roadmap provides a comprehensive plan to operationalize the SRCP framework for organizations that wish to.