Firms capable of SAR 10 bln investments until 2030 defined as ‘large’: Shareek CEO

Abdulaziz Al-Arifi, CEO of Shareek

Shareek program defines large companies as those that can invest SAR 10 billion until 2030, or SAR 1 billion per annum, CEO Abdulaziz Al-Arifi said during the PIF Private Sector Forum today, March 14. 

Shareek impacts not only the participating companies, but also the overall economy, Al-Arifi noted. 

The program participants work on localizing some industries for the first time, and attracting new technologies to the Kingdom, which will positively affect value as well as supply chains and provide investment opportunities that boost the projects of those companies. 

These projects will further result in a greater economic multiplier. The economic multiplier of the first bundle of Shareek’s projects was 2, implying that each Saudi riyal will be invested more than two times.