A senior official in Saudi Arabia believes that the private sector has a significant impact on the growth of the northern province of Hail.
Hail Gov. Prince Abdulaziz bin Saad said during his weekly meeting at Aja Palace that the area is seeing a fundamental change in terms of investment, tourism, and the economy.
According to the Saudi Press Agency, this was positively reflected in the data and the number of points-of-sale that saw notable growth.
The Hail region’s contributions to improving food security and growing the tourism industry are crucial to the Kingdom’s objectives.
Additionally, it is in line with Saudi Arabia’s National Investment Strategy, which attempts to advance the expansion and diversification of the economy of the Kingdom while advancing a number of Vision 2030 objectives.
These include improving the GDP contribution of non-oil exports from 16 percent to 50 percent, increasing the role of the private sector to 65 percent, and increasing the GDP contribution of foreign direct investment to 5.7 percent. Other objectives include getting Saudi Arabia into the top 10 economies in the Global Competitiveness Index by 2030 and bringing down unemployment to 7%.
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