Framework agreements on financing the first series of 12 projects were signed on March 1 with the participation of ministers, leading businessmen and Crown Prince Mohammed bin Salman. According to Arab News, eight companies included in the Shareek program submitted these proposals. Saudi Arabia will allocate 192.4 billion Saudi riyals (approx. – 51.3 billion US dollars) for the implementation of projects.
“12 projects involving eight companies in four industries have been approved in accordance with Shareek’s incentive criteria. By the end of 2030, companies will spend 120.23 billion SR (approx. – Saudi riyal) in order to stimulate the growth of gross domestic product in the amount of more than 466.83 billion SR by 2040 and create 64,451 jobs,” the report says.
Shareek is a program launched back in 2021 with the aim of strengthening the interaction between entrepreneurship and the state. It is assumed that the project will allow Saudi Arabia to strengthen its economic sustainability in accordance with the agenda prescribed in Saudi Vision 2030.
The material was collected and processed by Sofia Chernopyatova.
