(MENAFN) Abdul Rahman Al-Rashid, chairman of Asharqia Chamber in the Eastern Province said the chamber is seeking to create one million jobs for Saudi nationals and contribute USD28 billion to the gross domestic product in the first phase, Arab News reported.
He added that large-scale development projects and acquisitions of leading companies, such as Saudi Aramco and SABIC would expand the job market for both Saudi men and women.
He described Asharqia's nationalization strategy as an unprecedented project having tremendous impact on the national economy.
He estimated the current spending of strategic and government sectors at USD80 billion. However, local content reached only 20 percent or USD16 billion, he indicated.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.