Saudi Trade Minister: Companies will pump 5 trillion riyals in domestic investments


Saudi Trade Minister Majid Al-Qasabi said, in an interview with Al-Arabiya TV, that companies will pump local investments worth about 5 trillion riyals.

Al-Qasabi pointed out that the Kingdom’s economy is huge and we have strong purchasing power.

“We have SABIC which is among the 4 largest petrochemical companies in The world. ”

The Saudi Minister of Commerce pointed out that a partner program establishes a new partnership between the private and government sectors.

In a related context, Saudi Crown Prince Mohammed bin Salman said in Tuesday’s speech that the local private sector will invest 5 trillion riyals (1.3 trillion dollars) between now and 2030 within the framework of the partnership program with the private sector called “partner” to help diversify the economy.

The Saudi Crown Prince affirmed. The government spending over the next 10 years is estimated at 10 trillion riyals, so that the private sector will be a side by side in the development efforts in the Kingdom, and to achieve the goals of Vision 2030, in light of the directives of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz This came when Prince Mohammed bin Salman launched the program to strengthen partnership with the sector The private sector designated for local companies, with the aim of developing partnership between the government and private sectors, and accelerating the achievement of the strategic objectives of increasing the resilience of the economy and supporting prosperity and sustainable growth.

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