Increased investment in Saudi Arabia’s mining sector looks set to lift its GDP contribution significantly in the coming years, as part of an accelerating push to diversify the economy under the Vision 2030 development plan.
Saudi Arabia
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Economic view | Paddy Padmanathan, President & CEO, ACWA Power, on the Saudi private sector and development of the renewable energy industry
19 Jun 2017
What greater role do you think the Saudi private sector can take with the launch of Vision 2030?
Coinciding with a visit from US President Donald Trump, the inaugural Saudi-US CEO Forum on May 20 in Riyadh saw a series of deals signed between numerous companies in both the oil and non-oil sectors, with Saudi Arabia looking to enhance private sector involvement in its economy and increase foreign investment as part of its Vision 2030 economic blueprint.
A government push to enforce stronger uptake of compulsory health and automotive coverage could generate substantial new business in Saudi Arabia’s insurance sector, deepening the industry’s premium pool and strengthening its asset base.
Several international players have recently committed to enhancing their engagement with Saudi Arabia’s ICT sector.
Rising consumer demand and an increased role for the private sector look set to drive expansion and open new doors for investors in Saudi Arabia’s health care industry.