A new report issued by Global Research and Consulting Company, Oxford Business Group, addressed Saudi Arabia's efforts to change the features of the economy in it, by privatizing several major state-owned entities and establishing new business relationships.
The report indicates, according to a statement obtained by Namazin, of the latest developments taking place in the Kingdom's continuous endeavor to diversify its oil revenues through a comprehensive reform program.
This report by the Oxford Business Group provides details of the move to lay the foundations for a new stage of industrial development by launching massive projects for raw materials needed to build new factories, and the report also addresses the main role played by small and medium-sized companies Scale in reformulating the economic sector as a whole.
Other economic sectors analyzed include the critical area of defense and security in the Kingdom, for which $ 78.4 billion has been allocated, or 27 percent of the total budget for the year 2019. Moreover, the report highlights the high number of projects Joint ventures and emerging investment opportunities in the sector, referring to the Kingdom's plans to boost the volume of locally produced devices in the coming years.
The tourism and entertainment sectors are expected to contribute greatly to the diversification efforts in the Kingdom, and this will be done through a multi-billion dollar investment projects package that includes resorts, hotels and cultural attractions.
The Oxford Business Group covers the Kingdom's plans to boost manufacturing industries such as petrochemicals while diversifying the energy mix in light of the role that the oil and gas sector plays as a primary source of economic returns. In addition, the report provides details of planned new buildings. It will help boost energy exports.
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