Saudi Crown Prince launches ’Partner’ program to boost private sector

RIYADH, March 30 (INP): Crown Prince Muhammad Bin Salman launched on Tuesday an ambitious and thriving private sector program titled “Partner” with a total investments amounting to SR12 trillion until 2030.

According to the report of Saudi Gazette that the Crown Prince said that the program aims to consolidate the Kingdom’s reputation as a sustainable, ambitious, and thriving global economic powerhouse.

The “Partner” program, which aims to stimulate the sustainable growth of the national economy, will strengthen the private sector partnership with enhancing Saudi companies’ contribution to sustainable growth of the national economy, he said.

The Crown Prince said that the Kingdom would witness a giant leap in investments over the coming years, of which an amount of SR3 trillion will be pumped by the Public Investment Fund until 2030, as announced in the beginning of this year.

“This is in addition to SR4 trillion that will be provided under the umbrella of the National Investment Strategy of which the details will be announced soon,” he said, adding that thus the total investment that will be pumped into the national economy would reach SR12 trillion by 2030.

The Crown Prince explained that this does not include the government spending estimated at SR10 trillion during the coming 10 years, and private consumption spending expected to reach SR5 trillion until 2030, bringing the total spending to SR27 trillion ($7 trillion) over the coming ten years.