Saudi private sector unveils development goals for 2015

(MENAFN- Arab News) The Council of Saudi Chambers (CSC) and the UNDP (UN Development Program) recently discussed the Saudi private sector's vision for 2015 as part of the Millennium Development Goals.

They also dwelt on issues that might have a positive socioeconomic impact on the economy in terms of sustainable development.

The event was attended by UNDP officials academics consultants and businessmen including CSC Chairman Abdulrahman Al-Zamil under the UNDP program for global development for 2015.

Al-Zamil confirmed the contribution of the Saudi private sector to national development and formulation of its goals beyond 2015.

He noted that Saudi Arabia is focused on the process of comprehensive development.

Al-Zamil cited the five-year development plan of the country that aims to achieve a balanced and comprehensive development in all regions of the Kingdom as well as the social development of Saudi society.

He referred to various measures adopted under the umbrella of the welfare and prosperity of citizens and raising their living standards.

'Saudi Arabia enjoys prosperity despite the global and regional conditions' he said stressing the leadership's wise government which has been keen to activate and expand the role of the private sector in promoting development.

According to him the country will increasingly depend on the private sector as a key player in the implementation of economic and social growth programs by enabling the environment to increase its activities and the expansion of the productive base.

He underlined the role of the private sector which is evident in many economic activities including education health and social services where the GDP increased by more than 59 percent in 2013.

This indicates the high efficiency and ability of the private sector to lead the development process in the Kingdom he added.

He called for a creative strategy and an action program that could achieve the desired goals of the development process while underlining the importance of the partnership between the public and private sectors and the government to realize these goals.

Firas Gharaibeh acting resident UNDP representative acknowledged the great importance of the private sector as a key driver for balanced development economic diversification and improved productivity. He said it also plays the role of enhancing the competitiveness of the national economy and GDP.

Referring to the private sector's achievements and growth he said the private sector has contributed $ 24 billion to direct foreign investment in the period spanning from 2005-2011 and is predicted to play an important role in the implementation of development projects at the national regional and global levels.

Gharaibeh indicated that he will exercise this role through the promotion of environmentally sustainable economic growth aside from the active contribution of the sector in building infrastructure and its ability to encourage innovation and new job creation.