Riyadh "Riyadh Daily"
Economy spearheads

Economy in our time is one of the important sciences that are directly essential in the life of the individual. It is the most prominent element in the lives of nations. Thus, macroeconomic indicators are linked to and reflected on the everyday reality of individuals.

Everyone is directly affected by the general economic situation, and accurately follows up its growth indicators that create job opportunities, prosperity for all sectors, improvement of income levels and reduction of unemployment rates.

So, the economic scene in the Kingdom has spearheaded many meetings at the level of the Council of Ministers, through the Consultative Assembly and other government agencies which prioritize the follow-up of implementing the ambitious programs of the economic reform set by the Kingdom for the Vision 2030, and advancing growth social development at accelerated rates to achieve sustainable social development and enhance real partnership between the public and private sectors, and involve them in the development of economic policies and programs to avoid any obstacles when applied.

Already, the Kingdom is witnessing significant transformations at all levels, particularly at the economic level. It has built a strong network of economic relations with the various global economic blocs, in addition to many active trade and investment partnerships on the ground.

It has many programs and plans that are currently under way to establish many of the industrial, commercial and tourism cities. Therefore, it is qualified to attract international investments of quality supported by the available attractive investment environment, the strength of its economy and its importance to the countries of the world, and flexible investment systems that satisfy the wishes of the investors.

These transformations are based on many economic opportunities and programs, including spending large sums to invest in the sectors targeted by Vision 2030, to diversify the economy and generate employment opportunities for citizens. Accordingly, the private sector is the important pillar of the national transformation process. It has drawn the Kingdom's future path in the light of improving the trade and investment environment.

The current indicators confirm the contribution of the Saudi private sector in the overall development, and it still has more investment opportunities to expand its participation, especially as the Council of Economic Affairs and Development discussed in its meeting the day before yesterday the presentation by the National Center for Privatization on what has been done for the privatization program. The program is one of the Vision 2030's programs seeking to increase employment opportunities and the contribution of the private sector in the GDP from 40% to 65% by 2030.

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