“At the time of completion of this monograph, oil prices were in the range of $ 110 and it collapsed in 2015 to $40 which coincided with and perhaps influenced by a range of factors. Firstly, the entry of new energy suppliers to compete with OPEC. The USA exploited their untapped oil fields (Shale oil) and started production. Also, the economic embargo on Iran was lifted which allowed it to flood the market with 10 years’ worth of oil stocks. Secondly, the revision to Saudi Arabia’s geopolitical role in the region as a result of the civil wars; in Syria (in the north), Yemen (in the south) and the rise of the terrorist group known as the Islamic State of Iraq and Syria (ISIS). It was obvious that there was a vacuum of power surrounding the GCC region and there was an urgent need for leadership to instil stability. Saudi Arabia rose to challenge to stabilize the region with the support of Egypt, the UAE, Bahrain and Kuwait. This was achieved when the Saudi government activated and expedited plans for diversifying the economy which was introduced by the late King Abdulla Al-Saud in the form on “Saudi Arabia’s vision 2030”. This is a road map that encompasses the government’s ambition to transform the country from three directions; societal transformation, economical production and its interaction and contribution to the global community. In order to develop the institutional capacity to achieve such ambitious vision, it was launched in 24 government bodies (operating in the development and economic sectors) and linked to an executive initiative called the National Transformational Program (NTP). The NTP is mandated to report progress in a range of economical and societal initiatives in 2020.”