Private sector, contractors, marketers will be ‘backbone’ of Riyadh Strategy 2030

Private sector, contractors, marketers will be ‘backbone’ of Riyadh Strategy 2030

"We are therefore aiming to make Riyadh one of the 10 largest city economies in the world. Today it stands at number 40, the 40th largest city economy worldwide. We also aim to increase its residents from 7.5 million today to around 15 to 20 million in 2030,'' he added.Ajlan Al-Ajlan, the chairman of the Council of Saudi Chambers, said the Riyadh Strategy 2030 and the mega projects planned in sectors such as education, sports, and environment would create a unique investment environment for the private sector and opportunities across a multitude of sectors."All these will create tremendous investment opportunities for mega companies as well as SMEs (small and medium-sized enterprises) and foreign investment, enhancing the opportunities of partnership and exchange of experiences,“ he told Arab News.Fahd Al-Rasheed, president of the Royal Commission for Riyadh City, told the FII that $220 billion had already been spent or earmarked as part of the plan. Al-Ajlan said he believed the private sector was ready for the impending investment in the projects associated with the Riyadh Strategy.Minister of Investment Khalid Al-Falih said that a number of key reforms relating to the establishment and governance of special economic zones, labor, and education laws would