Riyadh – Mubasher: Saudi Arabia's Local Content unit on Thursday launched its plan to stimulate the private sector at a value of SAR 200 billion.
The first phase of the plan includes 17 initiatives that will inject SAR 72 billion to spur the private sector, Council of Saudi Chambers reported, citing Saudi Local Content’s chairman, Fahad Mahammed Al‐Sukait as saying.
Earlier on Thursday, Saudi Arabia's King Salman bin Abdulaziz issued a royal decree to approve SAR 72 billion stimulus plan for the kingdom's private sector.
Al-Sukait forecast that this plan will shore up the economy, create more job opportunities and increase the gross domestic product (GDP).
