Private sector growth must increase in Saudi Arabia

While government growth in Saudi Arabia continues to meet industry targets, private sector growth must increase if the Kingdom hopes to employ its residents.  Analyses by Banque Saudi Fransi says that growth must exceed 6.5% a year in the private sector, but it only is growing at a rate of 4% right now.  Saudi has a rapidly increasing population, and features a growing percentage of young residents who need to be assured of enough jobs.

Saudi’s longtime reliance on oil has both hindered and helped it.  As demand increases and prices rise, government sector growth has increased.  Yet proper investment in the private sector was overlooked for a period, and the Kingdom is now working to correct that.  Financing its many expansions in industry and property development needs to be backed by the private sector to ensure growth.

 



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While government growth in Saudi Arabia continues to meet industry targets, private sector growth must increase if the Kingdom hopes to employ its residents.  Analyses by Banque Saudi Fransi says that growth must exceed 6.5% a year in the private sector, but it only is growing at a rate of 4% right now.  Saudi has a rapidly increasing population, and features a growing percentage of young residents who need to be assured of enough jobs. Saudi’s longtime reliance on oil has both hindered and helped it.  As demand increases and prices rise, government sector growth has increased.  Yet proper investment...

While government growth in Saudi Arabia continues to meet industry targets, private sector growth must increase if the Kingdom hopes to employ its residents.  Analyses by Banque Saudi Fransi says that growth must exceed 6.5% a year in the private sector, but it only is growing at a rate of 4% right now.  Saudi has a rapidly increasing population, and features a growing percentage of young residents who need to be assured of enough jobs.

Saudi’s longtime reliance on oil has both hindered and helped it.  As demand increases and prices rise, government sector growth has increased.  Yet proper investment in the private sector was overlooked for a period, and the Kingdom is now working to correct that.  Financing its many expansions in industry and property development needs to be backed by the private sector to ensure growth.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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