An economic report prepared by the economic unit in the Council of Saudi Chambers entitled: "The Coronavirus Pandemic and the Saudi Private Sector" showed that despite the great challenges and extreme difficulties that the Kingdom faced in light of the current crisis, the initiatives launched by the government had a great impact in alleviating its severity of this crisis is on the private sector.
The report indicated that despite the damage of most of the private sector facilities, the crisis has illuminated the investment opportunities that were not well exploited in the pre-crisis period, mainly the opportunities associated with some manufacturing industries targeted to replace imports with their products, and activities related to food and drug security, in addition to e-commerce activities, education and distance training.
The report revealed that the Saudi private sector continues its strong performance as an effective partner in the comprehensive development process and the realization of Vision 2030, and this is evidenced by several economic indicators represented in the growth of the private sector's GDP of about 1073.7 billion riyals in 2019 after it was about 1000 billion riyals in 2016, i.e. an increase of about 2.4 percent during the period from 2016 to 2019. The report indicated that the Corona pandemic crisis has revealed the importance of investing in science and technology, as the virtual field has become an urgent need and an inevitable necessity within the new life.
Source (Council of Saudi Chambers Website, Edited)
