By Innovation-sa on September 27, 2018 in News

As the country celebrated its 88th National day, Saudi Arabia announced 10 major projects and investments worth more than SR685 billion to boost the country’s economy.


These projects, which aims at diversifying the Kingdom’s income, tackling environmental issues and increasing investment and prosperity, indicate the Kingdom’s revolutionary vision under the leadership of King Salman and Crown Prince Muhammed bin Salman.


A report published by the Council of Saudi Chambers on the great economic achievements of Saudi Arabia in 2017 highlights lifting of ban on women driving, the establishment of the General Authority of Cyber Security, the issuance of numerous royal decrees providing financial assistance to Saudi nationals, the launch of private sector incentive program worth SR72 billion, the privatization of 10 government sectors and the establishment of the General Authority of Real Estate as the Kingdom’s key achievements in 2017.


The report, which summarizes all major events and economic developments in the Kingdom during the last year, noted that private sector is still actively playing a major role in the inclusive development process of the Kingdom and in the success of Kingdom’s dream project Vision 2030.


The private sector contributed SR1236.6 million to the GDP at constant prices, almost double compared to 2016. With the constant support of the Saudi government, the private sector continued its growth in 2017 and witnessed an increase in the number of workers, in its capital, in the number of shares in the Saudi Market, in the cumulative number of establishments operating in the Kingdom, and in non-oil exports.


Arab News – 23 September 2018