The contribution of private sector (non-governmental) investments to the nominal GDP of last year grew by 22 percent to reach 908 billion riyals ($ 242 billion), while compared to 2016 (the base year), investments witnessed a huge jump of 104 percent, despite the effects of the Corona pandemic on economic activities around the world during the past three years.
The government seeks to empower the private sector and raise its contribution to GDP from 40 to 65 percent as it is targeted for 2030, and Saudi Arabia has launched the "Partner" program, which focuses on empowering large local companies in the country, to reach a volume of local investments of up to 5 trillion riyals ($ 1.3 trillion).
Source (Asharq Al-Awsat Newspaper, Edited)
