The private sector will receive investments totaling SR192.4 billion ($51 billion) through Saudi Arabia’s Shareek programme. The investments, which were unveiled in the presence of Crown Prince, Prime Minister, and Chairman of the Big Businesses Investment Committee Mohammed bin Salman bin Abdulaziz, are the first stage of Shareek’s anticipated SR5tn ($1.3tn) initiative.
The Shareek programme is Saudi Arabia’s special initiative for big businesses. It is meant to help the country’s private sector reach its full potential and contribute to the achievement of the goals set forth in Vision 2030. 28 enterprises are currently registered in the Shareek initiative, which was introduced by the Crown Prince in March 2021.
According to Abdulaziz Al Arifi, CEO of Shareek, the Crown Prince’s Vision 2030 for the Kingdom works to position the country as a top location for investment and growth by emphasising the development of partnerships with the private sector as a vital engine for long-term economic success.
The 12 initiatives that the Shareek programme has made possible across four sectors show that it has also become a top option for big private-sector businesses.
Al Arifi estimated that the total investment value to be roughly SR192 billion ($54 billion), including SR120 billion ($32.7 billion) spent by big businesses by the end of 2030 to achieve more than SR466 billion ($124.4 billion) in GDP growth by 2040, or a multiplier of 2.43.
According to Al Arifi, the projects foster the expansion of eight domestic businesses and help increase their international competitiveness. They also have a significant knock-on effect that affects entire value chains, creating excellent investment opportunities for a larger sector of the private sector.
