SPA (Riyadh)

The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud issued a royal decree approving the private sector stimulation plan and allocating a total amount of 72 billion Saudi Riyal for the private sector stimulation plan based on what has advanced by His Royal Highness Prince Mohammad bin Salman bin Abdulaziz, The Crown prince and Vice President of the Council of the Ministers and President of the Economic and Development Council.

The initiatives include:

1 - Subsidized Housing Loans Initiative with a total amount of 2,132,370,000 SAR

2- High Efficient Air Conditioning Units Initiative with a total amount of 400 Million SAR

3- Projects Support Fund Initiative amounting to 10 billion SAR

4- Initiative on Supporting Financially Distressed Companies with a sum of 1.5 billion SAR

5- launching of Exports Promotion Program Initiative with an amount of 66 million SAR

6-Exports Finance Enhancing Initiative with amount of 5 Billion SAR

7- Raising Kafalah Program capital with a total sum of 800 million SAR

8- Indirect Loan for Small and Medium Enterprises Initiative with a total amount of 1.6 billion SAR

9- The government Risk Capital Initiative for small and medium enterprises with a total amount of 2.8 billion SAR

10- Government Fees Refunding Initiative for small and medium enterprises with an amount of 7 billion SAR

11- Mega Investment Program Initiative with a sum of 5 billion SAR

12- Broadband and Optical Fiber Stimulation Initiative with an amount of 2,560,000,000 SAR

13- Building Technologies Stimulation Initiative with a total amount of 13,870,000,000

In addition to other initiatives intended to be enablers for the thriving of the private sector namely:

Priority Project Office Initiative with amount of 100 million SAR

Private Sector Views Platform Initiative with amount of 20 million SAR

Private Sector Workshops Initiatives with amount of 80 million SAR

The private sector stimulation packages aim to strengthen competitive capabilities of a number of segments of the national economy, develop its outcomes as well as improve business and investment environment and facilitate their implementation in the country under the vision 2030.