Riyadh – Mubasher: The Saudi government’s programme to boost private sector performance will contribute to creating a growth friendly environment for the private sector and increase non-oil revenues, stated Saudi finance minister Mohammed Al-Jadaan on Thursday.
Speaking at the Vision 2030 seminar in Riyadh, the minister highlighted that the programme amounts to SAR 200 billion ($53.32 billion), adding the private sector is considered a major partner in achieving the Saudi vision for 2030.
The Kingdom’s policy towards the private sector is a clear one and the government has already held several workshops with the private sector to confirm the country’s commitment to supporting the sector and its role in its vision, he added.
The Saudi government last year launched an efficiency office to review state projects. This office has saved the kingdom SAR 80 billion ($21 billion) in costs, the minister revealed.
Al-Jadaan expects additional savings this year and in the coming few years, which will positively impact Saudi Arabia’s financial position.
The ministry has set up a mechanism to reimburse contractors within a 60-day period, as stated in December, he added.
