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Saudi Commerce Minister to Asharq Al-Awsat: ‘Shareek’ Boosts Private Sector Growth, Contribution to GDP

Saudi Minister of Commerce and Investment and Acting Minister of Media Majid bin Abdullah al-Qasabi.
Saudi Minister of Commerce and Investment and Acting Minister of Media Majid bin Abdullah al-Qasabi.
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Saudi Commerce Minister to Asharq Al-Awsat: ‘Shareek’ Boosts Private Sector Growth, Contribution to GDP

Saudi Minister of Commerce and Investment and Acting Minister of Media Majid bin Abdullah al-Qasabi.
Saudi Minister of Commerce and Investment and Acting Minister of Media Majid bin Abdullah al-Qasabi.

Saudi Minister of Commerce and Investment and Acting Minister of Media Majid bin Abdullah al-Qasabi emphasized the government’s trust in the role of the private sector in creating a giant economy in the next stage and generating major investment opportunities that enhance its contribution to the GDP.

In an interview with Asharq Al-Awsat, Qasabi talked about the “Shareek” program, which was recently launched by Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, to promote partnership between the private and public sectors.

“This program establishes a new phase and a serious partnership between the public and private sectors, and its launch by the Crown Prince is an affirmation of the state’s confidence in the private sector and its important role in creating a gigantic and pioneering economy in the next phase,” he said.

Earlier this month, Crown Prince Mohammed announced that the Kingdom would boost economic activity by means of a plan to increase private sector investment. Under the Shareek program, private sector businesses will be helped to invest 5 trillion riyals between now and 2030.

Underlining the objective to increase the private sector’s contribution to the GDP to 65 percent by 2030, Qasabi noted: “The state is working to empower and support the private sector, accelerate its growth, and create great opportunities for investment through the elements that the national economy possesses and promising sectors, such as tourism, mining, industry, petrochemicals, services and technology.”

Asked about the factors that would allow the public and private sectors to achieve the goals of Shareek program, Qasabi said: “The most important achievement over the past four years is the creation of a business model for government agencies under the supervision and leadership of Crown Prince Mohammed that enabled them to become flexible and fast in their dealings with investors.”

Other factors include, according to the minister, the big purchasing power of the Saudi market and the ability of leading companies to access global markets.

On the new program’s contribution in promoting the Kingdom’s status worldwide, he said: “The Saudi economy is large and Vision 2030 has opened the way for promising programs and projects to enhance its global position.”

He added that the Kingdom was part of the G20 countries and occupied the 18th rank in the world’s largest economies, stressing that the Shareek program would speed up the progress of the Saudi economy to reach the 15th position.

“The program will also strengthen the country’s regional position as a business enabler, through proactive, innovative, smart and unique steps, in addition to facilitating the opening of new global markets, and enhancing the presence of the Saudi products in more than 178 countries,” the minister told Asharq Al-Awsat.

As for Shareek’s role in increasing the value of investments, Qasabi remarked that boosting confidence in the investment system was a government priority.

In this regard, he revealed that the volume of local investments that the program would generate would reach 5 trillion riyals (USD 1.3 trillion) by the end of 2030.

According to the minister, the program enables major national companies to expand their investments by 50 percent, develop their investment capabilities and increase their competitiveness at the regional and global levels.

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UN Deputy Special Coordinator to Asharq Al-Awsat: Humanitarian Situation in Lebanon is ‘Catastrophic’

Imran Riza, the UN’s Deputy Special Coordinator, Resident and Humanitarian Coordinator for Lebanon (Asharq Al-Awsat)
Imran Riza, the UN’s Deputy Special Coordinator, Resident and Humanitarian Coordinator for Lebanon (Asharq Al-Awsat)
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UN Deputy Special Coordinator to Asharq Al-Awsat: Humanitarian Situation in Lebanon is ‘Catastrophic’

Imran Riza, the UN’s Deputy Special Coordinator, Resident and Humanitarian Coordinator for Lebanon (Asharq Al-Awsat)
Imran Riza, the UN’s Deputy Special Coordinator, Resident and Humanitarian Coordinator for Lebanon (Asharq Al-Awsat)

One of the UN’s top humanitarian officials in Lebanon, Imran Riza, has warned that the situation will worsen if the conflict continues, calling for an immediate ceasefire between Israel and Hezbollah.

He stressed that the ongoing war is placing immense strain on both the UN and the Lebanese government, as over a million people have been displaced. He said current needs exceed $400 million, but only 12% of that amount has been raised so far.

Worsening Crisis

Riza, who is the UN Deputy Special Coordinator for Lebanon, UN Resident, and Humanitarian Coordinator for Lebanon, spoke to Asharq Al-Awsat. He described the past two weeks as “catastrophic” for civilians, with the crisis growing over the last year.

More than 600,000 people have been displaced and over a million affected, with 300,000 crossing the border, according to Riza.

Many of these people have been displaced more than once in search of safety. Riza emphasized that the war has severely impacted civilians, with more than a quarter of Lebanon's population affected.

The UN has been working to address the crisis, but Riza said resources are limited.

He stressed that the UN has been saying all year that it doesn’t have enough funds, even when there were only 110,000 displaced people.

Last week, the UN launched a $426 million appeal for urgent humanitarian aid, with 12% of the funding already secured.

Riza said more support is expected, with donor countries pledging additional help.

He also expressed gratitude for contributions from the Gulf Cooperation Council (GCC), which provided medical and relief supplies, and said the UN hopes to see more international assistance soon.

Working with the Government

The UN is working closely with the Lebanese government every day to provide shelter, food, healthcare, and water to those in need.

Cooperation with the government has been excellent, said Riza.

However, he acknowledged that the government’s capacity is weakened after five years of ongoing crises, which have also severely impacted the population.

People are less resilient than they were during the 2006 war, and the government and its institutions are weaker, affirmed Riza.

The UN is helping the government respond effectively, ensuring transparency and accountability, so that aid reaches those who need it, he added.

The UN is also collaborating with local and international NGOs that have gained experience from Lebanon’s recent crises, helping to ensure a more effective response. Shelters are also being monitored to prevent any abuse.

A Different Reality from 2006

The current situation in Lebanon is very different from the 2006 war. Politically, the country now has a caretaker government and no president, with much less international presence.

Back then, other countries were more involved, said Riza.

The 2006 war lasted only 33 days, but this conflict has dragged on for a year, he noted.

During recent visits to southern border areas, Riza said locals were asking when the war would end, as the situation has worsened significantly in the past two weeks.

Riza noted that, in the first week of the crisis, it was extremely difficult to respond, and even now, many displaced people remain without shelter.

The UN is working with the government to provide shelter, food, and healthcare, but it’s not easy, he noted.

Displacement Crisis

With winter approaching, Riza stressed the need to properly house displaced people, saying that people can’t be left without shelter.

There are also concerns over a lack of housing, clean water, and sanitation, as well as the risk of disease outbreaks. Despite these challenges, Riza praised the close cooperation between the UN, international organizations, and partners.

Many agencies are responding, he asserted.

Riza rejected any claims of discrimination between displaced groups, noting that both Lebanese and Syrians are currently staying in UNRWA schools. He added that talks with the government about sheltering displaced Syrians have been positive.

Riza also expressed concern about the school year and children’s education.

Prolonged Conflict

The United Nations sees no immediate solution to the humanitarian and military crisis in Lebanon, with Riza stressing that the solution must be political and diplomatic, but first, a ceasefire is needed.

While there is little optimism for an end to the conflict, Riza said, the UN is encouraged by the support from its partners, which helps the organization assist the displaced.

He mentioned the recent evacuation of 1,000 people from Ain Ebel and aid distribution in Tyre, emphasizing the need to ensure that they reach those in need.

Riza called on all sides to respect international and humanitarian laws, allowing safe access for aid workers.

He condemned violations, including the deaths of firefighters, health workers, civil defense staff, and UN personnel, adding that the toll on civilian and health infrastructure is growing.