عربي English Türkçe اردو فارسى
Logo
Latest News
Interviews

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.
TT
TT

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.

Most Viewed

 
 
Interviews

Goldrich to Asharq Al-Awsat: No US Withdrawal from Syria

US Deputy Assistant Secretary of State for Near Eastern Affairs Ethan Goldrich during the interview with Asharq Al-Awsat
US Deputy Assistant Secretary of State for Near Eastern Affairs Ethan Goldrich during the interview with Asharq Al-Awsat
TT
TT

Goldrich to Asharq Al-Awsat: No US Withdrawal from Syria

US Deputy Assistant Secretary of State for Near Eastern Affairs Ethan Goldrich during the interview with Asharq Al-Awsat
US Deputy Assistant Secretary of State for Near Eastern Affairs Ethan Goldrich during the interview with Asharq Al-Awsat

Deputy Assistant Secretary of State for Near Eastern Affairs Ethan Goldrich has told Asharq Al-Awsat that the US does not plan to withdraw its forces from Syria.

The US is committed to “the partnership that we have with the local forces that we work with,” he said.

Here is the full text of the interview.

Question: Mr. Goldrich, thank you so much for taking the time to sit with us today. I know you are leaving your post soon. How do you assess the accomplishments and challenges remaining?

Answer: Thank you very much for the chance to talk with you today. I've been in this position for three years, and so at the end of three years, I can see that there's a lot that we accomplished and a lot that we have left to do. But at the beginning of a time I was here, we had just completed a review of our Syria policy, and we saw that we needed to focus on reducing suffering for the people in Syria. We needed to reduce violence. We needed to hold the regime accountable for things that are done and most importantly, from the US perspective, we needed to keep ISIS from reemerging as a threat to our country and to other countries. At the same time, we also realized that there wouldn't be a solution to the crisis until there was a political process under resolution 2254, so in each of these areas, we've seen both progress and challenges, but of course, on ISIS, we have prevented the reemergence of the threat from northeast Syria, and we've helped deal with people that needed to be repatriated out of the prisons, and we dealt with displaced people in al-Hol to reduce the numbers there. We helped provide for stabilization in those parts of Syria.

Question: I want to talk a little bit about the ISIS situation now that the US troops are still there, do you envision a timeline where they will be withdrawn? Because there were some reports in the press that there is a plan from the Biden administration to withdraw.

Answer: Yeah. So right now, our focus is on the mission that we have there to keep ISIS from reemerging. So I know there have been reports, but I want to make clear that we remain committed to the role that we play in that part of Syria, to the partnership that we have with the local forces that we work with, and to the need to prevent that threat from reemerging.

Question: So you can assure people who are saying that you might withdraw, that you are remaining for the time being?

Answer: Yes, and that we remain committed to this mission which needs to continue to be pursued.

Question: You also mentioned the importance of humanitarian aid. The US has been leading on this. Are you satisfied with where you are today on the humanitarian front in Syria?

Answer: We remain committed to the role that we play to provide for humanitarian assistance in Syria. Of the money that was pledged in Brussels, we pledged $593 million just this past spring, and we overall, since the beginning of the conflict, have provided $18 billion both to help the Syrians who are inside of Syria and to help the refugees who are in surrounding countries. And so we remain committed to providing that assistance, and we remain keenly aware that 90% of Syrians are living in poverty right now, and that there's been suffering there. We're doing everything we can to reduce the suffering, but I think where we would really like to be is where there's a larger solution to the whole crisis, so Syrian people someday will be able to provide again for themselves and not need this assistance.

Question: And that's a perfect key to my next question. Solution in Syria. you are aware that the countries in the region are opening up to Assad again, and you also have the EU signaling overture to the Syrian regime and Assad. How do you deal with that?

Answer: For the United States, our policy continues to be that we will not normalize with the regime in Syria until there's been authentic and enduring progress on the goals of resolution 2254, until the human rights of the Syrian people are respected and until they have the civil and human rights that they deserve. We know other countries have engaged with the regime. When those engagements happen, we don't support them, but we remind the countries that are engaged that they should be using their engagements to push forward on the shared international goals under 2254, and that whatever it is that they're doing should be for the sake of improving the situation of the Syrian people.

Question: Let's say that all of the countries decided to talk to Assad, aren’t you worried that the US will be alienated in the process?

Answer: The US will remain true to our own principles and our own policies and our own laws, and the path for the regime in Syria to change its relationship with us is very clear, if they change the behaviors that led to the laws that we have and to the policies that we have, if those behaviors change and the circumstances inside of Syria change, then it's possible to have a different kind of relationship, but that's where it has to start.

Question: My last question to you before you leave, if you have to pick one thing that you need to do in Syria today, what is it that you would like to see happening today?

Answer: So there are a number of things, I think that will always be left and that there are things that we will try to do, to try to make them happen. We want to hold people accountable in Syria for things that have happened. So even today, we observed something called the International Day for victims of enforced disappearances, there are people that are missing, and we're trying to draw attention to the need to account for the missing people. So our step today was to sanction a number of officials who were responsible for enforced disappearances, but we also created something called the independent institution for missing persons, and that helps the families, in the non-political way, get information on what's happened. So I'd like to see some peace for the families of the missing people. I'd like to see the beginning of a political process, there hasn't been a meeting of the constitutional committee in two years, and I think that's because the regime has not been cooperating in political process steps. So we need to change that situation. And I would, of course, like it's important to see the continuation of the things that we were talking about, so keeping ISIS from reemerging and maintaining assistance as necessary in the humanitarian sphere. So all these things, some of them are ongoing, and some of them remain to be achieved. But the Syrian people deserve all aspects of our policy to be fulfilled and for them to be able to return to a normal life.