Private Sector.. Development Partner
The plan to stimulate the local content of supporting the private sector with SR72 billion can be reflected on the local economy with returns totaling up to SR175 billion.
Thus, the private sector, with its general components, is on standby for playing a key role in the economic development in the country, in parallel with the implementation of the plans and programs of the Kingdom's Vision 2030.
This role is reinforced by the great interest shown by the government of the Custodian of the Two Holy Mosques in the private sector and seen as a real partner in any success fulfilled on the ground.
The Saudi government is fully keen to support the private sector in order to reach its maximum capacity in work and production, and to absorb the national competencies.
This keenness is evidenced by the supreme order issued by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz in the last year to approve the stimulation of the sector via a series of initiatives, including loans, fee waivers and others.
This is not new. We have confirmed that the history of the private sector in the Kingdom, over the past decades, has been more than honorable.
It has been serving as the operational arm that has professionally carried out the State's projects and plans in construction and operation, counting on its long experience and the efficiency of its employees.
There is no doubt that the role played by this sector will increase and grow in the next phase which aims at reducing dependence on the oil sector and creating other sectors that contribute to the State's national income.
The private sector will be keen to demonstrate its capabilities to make well use of opportunities and prove itself again to be a partner of the government sector in the re-shaping general scene of the Saudi economy, as companies and institutions of this sector have began pumping investments into the State's new projects.
The next phase will bring many surprises to the private sector to compensate it for the state of calm and anticipation that has recently accompanied it.
The private sector should get ready well for this phase with different creative ideas, modern methods and quality projects that are all in line with the objectives of Vision 2030.
As for holders of traditional ideas and sterile methods, they will not enjoy a share of the fruits of the Vision.