LOC16:14
13:14 GMT
RIYADH, Dec 14 (KUNA) -- Saudi Arabia announced Thursday that it had launched a SR 200 billion (USD 53 billion) plan to stimulate the private sector.
Minister of Commerce and Investment Dr. Majed bin Abdullah Al-Qasabi announced the launch of a stimulating plan consisting of 17 initiatives over the upcoming four years with the aim of enhancing the competitiveness of a number of national sectors of the economy and providing employment opportunities for Saudi youths, according to the Saudi Press Agency (SPA).
Dr. Al-Qasabi's statement came at a meeting with business personnel at the Riyadh chamber of commerce.
The minister stressed that the plan came in line with King Salman bin Abdulaziz Al-Saud's directives for stimulating the private sector, an important key partner in development.
The number of supportive initiatives will be launched at end of the first quarter of 2018, the minister said. (end)
mdm.gta