$51B Investment by Saudi to Create Job Opportunities in the Country

  • Publish date: Thursday، 02 March 2023
$51B Investment by Saudi to Create Job Opportunities in the Country

In presence of Saudi Crown Prince Mohammed bin Salman, as part of the Shareek program, Saudi Arabia announced investments totaling $51 billion (SAR 120 billion) in eight firms. 

Saudi Arabia plans for $51 billion in investments by local firms, including Saudi Aramco and mining giant Maaden, which is a part of a government incentive program as it works towards its goal to shift its economy away from oil and to increase the GDP by about $124 billion (SAR 466.83 billion) by 2040 and generate more than 64,000 new employment locally.

Shareek is a program that Crown Prince Mohammed bin Salman launched in 2021 as part of his "Vision 2030" plan to restructure the oil-dependent Gulf nation and make it one of the top 15 economies in the world. 

With the support of the Saudi government, the initiative also helps qualified companies to go through with projects that were already planned and find new partnerships and investment chances. The Shareek Program will shortly announce support for additional businesses and projects. 

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