Saudi Arabia’s Shareek program announces the first wave of supported projects worth SAR 192.4 billion

Saudi Arabia’s Shareek program announces the first wave of supported projects worth SAR 192.4 billion

In the presence of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Prime Minister, and Chairman of the Large Companies Investment Committee, a ceremony was held today to announce the first wave of projects supported by the Shareek program, the Kingdom’s dedicated program for large companies, designed to help unlock the full potential of Saudi Arabia’s private sector, and contribute to achieving the national targets defined by Vision 2030.

The program was launched by HRH the Crown Prince on 30 March 2021, who closely oversees its implementation as the Chairman of the Large Companies Investment Committee. To date, 28 companies are enrolled in the Shareek program.

A number of senior government ministers and private sector leaders attended the ceremony and witnessed the signing of framework agreements for 12 projects that have been approved within the Shareek incentives criteria, across eight companies, in a number of strategic sectors. These projects will contribute to the Kingdom’s economic growth, diversify industries, promote innovation, and further enable public-private partnerships.

The Shareek program is helping eligible companies accelerate planned projects and identify new potential partnerships and investment opportunities through government support.

The first wave of supported projects will have strategic impact on several economic sectors in