Riyadh
A Saudi energy think tank said that greater private sector involvement in funding and delivering projects would spur the non-oil economy in the Kingdom.
It is one of five key recommendations in a paper published by the King Abdullah Petroleum Studies and Research Center that could maximize the impact of government spending on the economy beyond oil. It also highlighted the need to improve the Kingdom’s business environment, involving the private sector in investment and job creation projects, and working on reprioritizing government spending, increasing local content and reducing imported goods and services.
The study concluded that government expenditure would have a greater positive impact if it was underpinned by investment in education, vocational training and capacity building.—Arab News
