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Empowering the Private Sector

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Launched in 2016, Vision 2030 recognized early on the importance of partnerships between the public, private and non-profit sectors and international partners to achieve the Kingdom’s aspirations.  To foster a thriving economy - a Vision 2030 pillar -  Saudi Arabia is diversifying its economy, supporting local production, and developing innovative opportunities for the future by creating an attractive environment for local and foreign investments.

 

Economic reforms have been launched to facilitate a supportive business environment and enhance the quality, efficiency and digitization of services provided to the private sector.  Many programs, initiatives, funds, incubators and accelerators have been created to assist the private sector in overcoming obstacles and unleash the sector as the main driver of the Kingdom's economy.

Investments in local companies by the Public Investment Fund have untapped new, non-oil sectors that are creating prosperous opportunities in Saudi Arabia. And as the Saudi government continues to create an empowering environment for the private sector and its partners, Vision 2030 can realize the Kingdom's aspirations and shape the future of our nation.

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His Royal Highness Crown Prince, Prime Minister and Chairman of the Council of Economic and Development Affairs, Prince Mohammed Bin Salman Bin Abdulaziz

Building a vibrant and prosperous private sector is a national priority for the Kingdom, and today we are initiating a new era that is more powerful in terms of cooperation and partnership between the public and private sectors.

Vision Private Sector Targets by 2030

Increase the private sector contribution to GDP from 40% to 65%.

Increase SME contribution to GDP from 20% to 35%.

Increase FDI contribution to GDP from 3.8% to 5.8%.

Increase the contribution of non-oil exports to non-oil GDP from 16% to 50%.

Vision 2030 is enhancing the quality of services available to the private sector, facilitating the business environment, promoting untapped economic sectors, and attracting foreign investments. 

To achieve the sustainability and prosperity of the national economy, this provides new opportunities for entrepreneurs, SME growth, and the expansion of investments in major companies.

2025 Key VRP Commitments to Enable the Private Sector

National Transformation Program

NTP aspires to enhance ease of doing business.

Learn about NTP's Commitments

Public Investment Fund Program

PIF aspired to unlock new economic sectors.

PIF Commitments

Financial Sector Development Program

FSDP aspires to enable financial institutions to support private sector growth.

FSDP in Numbers

National Industrial Development and Logistics Program

NIDLP aspires to increase the localization of the non-oil sectors.

NIDLP in Numbers

Privatization Program

PP aspires to unlock state-owned assets for the private sector.

PP in Numbers
National Transformation Program Public Investment Fund Program Financial Sector Development Program National Industrial Development and Logistics Program Privatization Program
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  • 45

    Major companies will boost their global leadership

  • 80%

    Of local companies will expand into regional and global markets

  • $25.3+ Bn

    in FDI inflows

  • 93%

    Satisfaction rate of government communication channels targeting the private sector

  • 11.84%

    Retail sector contribution to GDP

  • 29.9%

    SME contribution to GDP

  • $4.9+Bn

    In sales from productive families supported by the Social Development Bank

  • 92,000+

    Individuals of productive families will benefit from services provided by the Social Development Bank

  • 80%

    Of companies will adhere to sustainability standards

  • 21%

    Of assets to be invested in new sectors

  • $39.8+Bn

    To be invested annually in new, local projects

  • $319+Bn

    To be contributed to non-oil GDP

  • $546.7+Bn

    Worth of private sector credit

  • 30

    Fintech companies to be launched

  • 17.5%

    Of foreign investors in total market value of free stocks

  • 8

    Special economic zones created across Saudi Arabia to support energy, mining, industry, and logistics sectors

  • +70%

    Of the oil and gas sector to be localized

  • <60

    Days to acquire a mining license

  • 30%

    Of the pharmaceutical industry to be localized

  • $330+Mn

    To be invested in non-oil sectors

  • $16.5+Bn

    To be invested in public-private partnerships

  • $38+Bn

    To be contributed to non-oil government revenues

The Empowerment Journey of the Private Sector

  • 2016
  • Establishment of the Small and Medium Enterprises General Authority (Monsha'at) to overcome the administrative, organizational, technical, procedural, informational, and marketing obstacles that businesses face
  • 2017
  • Creation of the National Anti-Commercial Concealment Program (Tasattur) to address concealment across sectors, develop relevant laws and regulations, stimulate e-commerce, and deploy technical solutions
  • Establishment of the National Development Fund, comprised of 11 in total, to work as integrated development institutions, providing financing solutions to the private sector in various sectors
  • Launch of the Financial Sector Development Program (FSDP) to build a thriving financial sector that supports private sector growth.
  • 2018
  • Launch of the Privatization Program to enhance the role of the private sector of providing services and its access to government assets, and initiate public-private partnerships
  • Launch of the Etimad platform to streamline financial transactions between the private sector and the government
  • Establishment of the Local Content and Government Procurement Authority to increase the private sector's local output in government procurement and enhance the quality of procedures and business
  • 2019
  • Launch of the Saudi Business Center, which facilitates business procedures and practices in the Kingdom in accordance with global best practices
  • Streamline the commercial records issuance process to now only take 180 seconds to complete
  • 54% reduction in the number of requirements for investment licenses so that investors can obtain a license within one business day
  • Launch of the Public Consultation Platform to improve communication with the private sector, provide insights, identify challenges, and develop improvement plans for the business environment
  • Launch of the Biban Forum to promote awareness of modern digital commerce and support entrepreneurs and e-store owners who use social media and websites for their businesses
  • Launch of the National Industrial Development and Logistics Program (NIDLP), to transform the Kingdom into a leading industrial powerhouse and logistics hub and promote local content
  • Launch of the “Local Content Preference Mechanisms” for local SMEs, companies listed in the financial market
  • 2020
  • Launch of the Emtiyaz platform to offer franchise investment opportunities to entrepreneurs and enables them to expand and invest in successful brands
  • Launch of a range of government measures to mitigate the impact of the COVID-19 pandemic on economic activities by providing the private sector with $31.9+ bn of financial support
  • Establishment of the Mining Investment Law, which aims to regulate the sector investment related procedures, achieve sustainability, and encourage investment in mineral value chains
  • 2021
  • Launch of the Shareek Program to enhance private sector partnerships and inject the sector with $1.3+ trillion by 2030
  • Launch of the Saudi Made Program to support local products, enhance their quality, and promote their export around the world
  • Delivered +750 economic reforms to improve the business environment in Saudi Arabia
  • Launch of the Public Investment Fund Strategy (2021-2025) to engage the private sector as potential investors and partners
  • Launch of the Transport and Logistics Strategy that promotes integration in the logistics ecosystem by broadening private sector partnerships, upscale investments, and enhance the quality of services provided
  • Announce the National Investment Strategy to enhance the private sector contribution to GDP, promote FDI, and increase the percentage of non-oil exports in non-oil GDP
  • Establish the SME Bank to bridge the entrepreneurial funding gap
  • Launch of the Invest Saudi platform to facilitate investment in the Kingdom by providing all tools and resources in one place
  • 2022
  • Announcement of the National Development Fund Strategy to develop funds and banks to triple the private sector's contribution to the economy by 2030
  • Launch of the National Industrial Strategy to support economic diversification and grow the Kingdom's GDP and non-oil exports

Vision 2030 empowers the private sector to play a vital role in enhancing and diversifying the economy and achieving the ambitious objectives of the nation.

Government platforms supporting the private sector

Vision 2030 offers the private sector with digital platforms that facilitate the activities of all businesses and provide them with the necessary services and information that meet their needs.

Learn about all the platforms below

Communication
Istitlaa Platform

E-platform that surveys the views of the public, government entities and the private sector on laws, regulations, and any other ordinances issued regarding the economic environment before enacting them.

istitlaa.ncc.gov.sa
Information
Industrial Center (IC)

IC reviews investment advantages and opportunities across industrial sectors.

ic.gov.sa
Daleel

The platform provides access to the data investors needs, the steps of the investment journey and the timetable for each step, and the relevant government requirements and fees

daleel.gov.sa
Saudi Central Bank Portal for Open Data Platform

The platform offers KSA economic, financial and monetary statistics and indicators. The Central Bank provides accurate and up-to-date information and data.

sama.gov.sa
National Center for Privatization (NCP)

The NCP announces all investment opportunities related to privatization and is considered the main reference for all privatization operations in the Kingdom.

ncp.gov.sa/en
Central Reservation Engine - Maqam

A system that acts as a hub to connect all online travel agencies and service providers in the Kingdom, enabling them to offer their services to Hajj and Umrah visitors through global and local marketing platforms.

maqam.gds.haj.gov.sa
Procedural
Etimad Platform

Many services are provided to the private sector to participate in government RFPs and procurement.

etimad.sa/
Listed Companies Services

The system provides various services to the listed companies, including: changes to the details of the Company's representatives, and filing a request to review the form related to the resume of the candidate for membership in the Board of Directors of a JSCo.

ecma.cma.org.sa
Local Content and Government Procurement Authority

A platform offers a suite of services to facilitate local output transactions and procedures.

lcgpa.gov.sa/en/eservices
Licensing
Authorisation System

A system that allows users to apply for securities business licenses in KSA, and to modify and alter their licenses.

cma.org.sa/en/Services
Ministry of Commerce E-services

Providing e-services related to commercial register issuance, amendment, renewal and cancellation.

mc.gov.sa/en/eservices
Furas Platform

The Municipal Investment Portal (Furas) provides 100% automated procedures up to the contract signature. It facilitates access to investment opportunities, and provides all information on municipality opportunities.

furas.momra.gov.sa
Entertainment Portal

A platform that provides licenses for activities and services of the General Entertainment Au-thority. It allows applications for entertainment services of all types.

eservices.gea.gov.sa
Pilot portal for tourist activities licensing

An e-licensing system provided by the Ministry of Tourism to facilitate the services of beneficiaries, including various activities such as: tour operators, travel agencies, and tourist guides.

tlg.mt.gov.sa
"Nafes" Platform

Issuing new licenses related to private clubs, private academies, fitness centers and gyms. It enables the creation of new opportunities for investors and improves the development journey of the sports sector.

mos.gov.sa/ar/nafes
Funding
Tamweel Portal

A portal that links public and private financiers with SMEs applying for finance and enables them to choose appropriate financial offers.

tamweel.smebank.gov.sa
Social Development Bank (SDB)

SDB offers a range of affordable social funding products for low-income people to enable them to meet some of their basic needs.

sdb.gov.sa
Saudi Industrial Development Fund (SIDF)

Identify subsidy conditions and requirements and apply for subsidy to initiate and develop industrial activities.

sidf.gov.sa/en
Tourism Development Fund (TDF)

Identify subsidy conditions and requirements and apply for subsidy to initiate and develop tourism activities.

tdf.gov.sa
Agricultural Development Fund (ADF)

Identify subsidy conditions and requirements and apply for subsidy to initiate and develop agricultural activities.

adf.gov.sa
Culture Development Fund (CDF)

Identify subsidy conditions and requirements and apply for subsidy to initiate and develop cultural activities.

cdf.gov.sa
Invest Saudi

Providing information on investment opportu-nities in KSA for foreign investors, domestic investors, and private companies.

investsaudi.sa/en
Shareek Platform

A platform that provides support to major local companies (listed and not listed in the stock market) across various industries that manage their operations in KSA.

shareek.gov.sa/en