Building a vibrant and prosperous private sector is one of the Kingdom's national priorities
Partner is a program that has been adopted to be a key part of the Kingdom's economic growth plan
His Royal Highness Prince Mohammed bin Salman, Deputy Prime Minister and Chairman of the Council of Economic and Development Affairs, revealed that the total investment that will be pumped by the Public Investment Fund in the national economy is 12 trillion riyals until 2030, noting that this financial flow does not include government spending estimated at 10 trillion riyals during the next ten years, and private consumer spending expected to reach 5 trillion riyals until 2030, bringing the total amount that will be spent in Saudi Arabia to 27 trillion riyals during the next ten years.“
Building a vibrant and prosperous private sector
His Highness the Crown Prince, while launching the program to enhance partnership with the private sector ”Shrek" during a virtual meeting chaired by His Highness in the presence of a number of Their Excellencies ministers, as well as senior businessmen and heads of major companies in the Kingdom, stressed that building a vibrant and prosperous private sector is one of the national priorities for the Kingdom, given its importance and vital role as a key partner in the prosperity and development of the Kingdom's economy, to continue performing its supportive tasks to achieve the national ambitions set by Vision 2030.The Crown Prince also stressed the importance of the private sector's role as a key partner in the prosperity and development of the Kingdom's economy. "As building a vibrant and prosperous private sector is a national priority for the Kingdom, today we are launching a new, stronger era of cooperation and partnership between the public and private sectors by announcing the Private Sector Partnership Enhancement Program (Shariq), which aims to support local companies and enable them to reach a local investment volume of five trillion riyals by the end of 2030.“
His Highness said.
Trillion investment leaps
His Highness added: "In the coming years, the Kingdom will witness a leap in investments, with three trillion riyals to be pumped by the Public Investment Fund until 2030, as announced earlier this year, in addition to four trillion riyals to be pumped under the National Investment Strategy, the details of which will be announced soon."His Highness added: ”The Kingdom will witness a leap in investments in the coming years, with three trillion riyals to be pumped by the Public Investment Fund until 2030, as announced earlier this year. His Royal Highness the Crown Prince explained that the investments to be pumped by the private sector supported by the “Shrek” program will create hundreds of thousands of new jobs and increase the contribution of the private sector to the GDP, in order to achieve the target set for it within the objectives of the Kingdom's vision, which seeks to raise the contribution of this sector to 65% by 2030.
His Royal Highness the Crown Prince explained.
Hundreds of thousands of new jobs
HRH the Crown Prince added that the investments to be made by the private sector supported by the “Shrek” program will create hundreds of thousands of new jobs and increase the contribution of the private sector to the GDP, in order to achieve the target set for it within the objectives of the Saudi Vision, which seeks to raise the contribution of this sector to 65% by 2030.Royal Crown Prince added that the investments to be made by the private sector supported by the “Shrek” program will create hundreds of thousands of new jobs. "The importance of the Shrek program is not limited to enhancing the role of the private sector in the sustainable growth of the national economy, but we see it as a long-term investment in the Kingdom's future and prosperity, based on the partnership between the public and private sectors."
His Highness pointed out that “the importance of the Shrek program is not limited to enhancing the role of the private sector in the sustainable growth of the national economy.
Pivotal Objectives of the Shrek Program
”The importance of the Shrek program is not only to enhance the role of the private sector in the sustainable growth of the national economy, but we see it as a long-term investment in the Kingdom's future and prosperity, based on the participatory relationship between the public and private sectors."His Highness pointed out that "the importance of the Shrek program is not limited to enhancing the role of the private sector in the sustainable growth of the national economy. The innovative program aims to help private sector companies achieve their investment goals, accelerate the injection of investments worth an estimated five trillion riyals into the local economy by 2030, increase the pace of the Kingdom's GDP growth, contribute to the continued progress of the Saudi economy among the largest global economies, from the current 18th place to the 15th place, and enhance confidence in the investment system in the Kingdom.
Also, the innovative program aims to help private sector companies achieve their investment goals, accelerate the injection of investments worth an estimated five trillion riyals into the local economy until 2030.
Shrek is an essential part of economic growth
It is worth mentioning that the design of the “Shrek” program was based on being a key part of the economic growth plan and the national investment strategy in the Kingdom, the details of which will be announced later, under the direct supervision of His Royal Highness the Crown Prince, in addition to a committee that includes senior officials from ministries and heads of relevant authorities.
