Crown Prince launches ‘Shareek’ program to boost private sector

Crown Prince launches ‘Shareek’ program to boost private sector

RIYADH — Crown Prince Muhammad Bin Salman launched on Tuesday an ambitious and vibrant program for the private sector titled “Shareek” (Partner) with new investments amounting to SR12 trillion ($3.2 trillion).He said that the program, which will continue until 2030, aims to consolidate the Kingdom's reputation as a sustainable, ambitious, and thriving global economic powerhouse.The Crown Prince unveiled the program during a virtual meeting held chaired by him and attended by a number of ministers, senior businessmen, and heads of large companies in the Kingdom.The “Partner” program, which aims to stimulate the sustainable growth of the national economy, will strengthen the private sector partnership and enhance Saudi companies' contribution to the sustainable growth of the national economy, he said.Under the new program, private sector companies will be helped to invest SR5 trillion until 2030.The Crown Prince said that the Kingdom would witness a giant leap in investments over the coming years, of which an amount of SR3 trillion will be pumped by the Public Investment Fund until 2030, as