Blog Business Entertainment Environment Health Latest News News Analysis Opinion Science Sports Technology Videos World
Saudi Arabia Invests $51 Billion in Eight Companies as part of Shareek Program for Economic Growth

Saudi Arabia announced a $51 Billion investment. This investment is only in 8 companies and is a part of vision 2030.

Vision 2030 is the Saudi crown prince Muhammad Bin Salman’s way of moving the country from being over-reliant on the oil industry. The Shareek program is a significant part of the vision. $51 Bil is only the first of many investments to be made.

The hark program aims to increase Saudi Arabia’s GDP to 15th worldwide; the country currently sits at 18th. The program aims to create thousands of job opportunities and increase the private sector's GDP contribution by 65% by the decade's end.

The eight companies that are now supported by this $51 billion investment are:

  1. Aramco

  2. Sabic

  3. Ma’aden

  4. Bahri

  5. Advanced

  6. Aqwa Power

  7. Zain

  8. STC

To boost economic growth, the Shareek program will enable the government to collaborate with large private companies. The program will help encourage large companies’ local investment. This will benefit the entire Saudi economic ecosystem. These investments will naturally help small and medium-sized businesses as well. All this will contribute to the Saudi goal of increased GDP.

The signing ceremony included announcing strategic projects in various sectors, including steel plate manufacturing, cloud computing, sustainable maritime sector, green hydrogen plant, phosphate fertilizers, and catalyst manufacturing hub. The Shareek program in the future will support more companies and projects.

“The importance of the Shareek program is not just limited to enhancing the role of the private sector in sustaining the growth of our national economy. We see it as a long-term investment in the future and prosperity of the Kingdom that is based on a powerful spirit of collaboration and partnership between the public and private sectors” – Crown Prince Muhammad Bin Salman.


The investment is a step in the right direction in making Vision 2030 a reality. This investment will surely provide jobs and economic growth in the short term. However, the program's success is still not guaranteed as it will require very effective usage of the investments and the ability of the invested companies to achieve their targets.

Share This Post On

Tags: Saudi Arabia Economy GDP Jobs Local businesses


Leave a comment

You need to login to leave a comment. Log-in is a Global Media House Initiative by Socialnetic Infotainment Private Limited.

TheSocialTalks was founded in 2020 as an alternative to mainstream media which is fraught with misinformation, disinformation and propaganda. We have a strong dedication to publishing authentic news that abides by the principles and ethics of journalism. We are an organisation driven by a passion for truth and justice in society.

Our team of journalists and editors from all over the world work relentlessly to deliver real stories affecting our society. To keep our operations running, We need sponsors and subscribers to our news portal. Kindly sponsor or subscribe to make it possible for us to give free access to our portal and it will help writers and our cause. It will go a long way in running our operations and publishing real news and stories about issues affecting us.

Your contributions help us to expand our organisation, making our news accessible to more everyone and deepening our impact on the media.

Support fearless and fair journalism today.