01 October 2018

In a major boost to the country’s economy, Saudi Arabia has announced 10 major projects and development programmes worth more than SR685 billion ($183 billion) as the kingdom celebrated its 88th National Day last month.

These projects reflect the kingdom’s vision under the leadership of King Salman and that of Crown Prince Mohammed bin Salman to provide a brighter future through diversifying sources of national income, tackling environmental challenges and increasing investment and prosperity, said Arab News, citing a report released by The Council of Saudi Chambers focusing on great economic achievements in 2017.

The report summarised the most important events and economic developments in the kingdom over the past year. These include the lifting of the ban on women driving in June, and the establishment of the General Authority for Cyber Security, in addition to the numerous royal decrees providing financial support to Saudi nationals.

The chamber report also highlighted the important decisions related to the Saudi business sector including the launch of a private sector incentive programme worth SR72 billion, the privatisation of 10 government sectors and the establishment of the General Authority for Real Estate.  

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Cranes & Hoists The Big 5 Saudi Build Glass & Metal BIM Water Technology Drilling & Tunnelling Regional News Saudi Focus UAE Focus Events Legally Bound Real Estate Contractors Interiors Tenders Manufacturers & Procurement

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