RIYADH: SABIC CEO Yousef Al-Benyan said that a new government initiative to promote the private sector would help it double its capacity within the next 10 to 15 years.
He added that the ‘Shareek’ stimulus package announced on Tuesday “would enhance the company’s competitive position on the local, regional and global levels.”
Al-Benyan also highlighted the impact on manufacturing industries, helping to boost demand for petrochemical products in the Kingdom.
Saudi government agencies and major companies in the Kingdom are lining up to sign a string of deals over the coming months, the head of the country’s sovereign wealth fund said.
Public Investment Fund (PIF) Gov. Yasir Al-Rumayyan made the announcement on Tuesday during the launch of the new Shareek program, an initiative aimed at boosting the role of the private sector in diversifying the economy, increasing resilience, and supporting sustainable growth.
The governor said the program was the first step toward stimulating new investments, and that communication between parties had already started. He added that Vision 2030 components along with expertise and programs would lead large companies to new levels of growth.
Minister of Investment Khalid Al-Falih said the Shareek program included more than 250 organizational developments and was flexible in facing crises. “Our primary mission is to provide all possible support to improve the investor experience.”
He added that Saudi reforms had pushed the Kingdom up the rankings order in terms of international indicators.
SABIC boss says ‘Shareek’ will help chemicals giant double capacity as companies line up to strike deals
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SABIC boss says ‘Shareek’ will help chemicals giant double capacity as companies line up to strike deals
- ‘Shareek’ stimulus package announced on Tuesday “would enhance the company’s competitive position on the local, regional and global levels”
DP World announces new leadership appointments
DUBAI: DP World announced the appointment of Essa Kazim as Chairman of its Board of Directors and the appointment of Yuvraj Narayan as Group Chief Executive Officer.
Essa Kazim currently serves as Governor of the Dubai International Financial Centre and Chairman of Borse Dubai. He brings extensive experience in financial and economic affairs, having previously held senior leadership positions in several national institutions.
Yuvraj Narayan has extensive professional experience in financial management, corporate finance, supply chains, and global trade. Since joining DP World in 2004, he has led a number of strategic and transformational initiatives that supported the company’s expansion across international markets and strengthened its role as an integrated global provider of end-to-end supply chain solutions.
Narayan has served as Group Chief Financial Officer since 2005, contributing to the company’s financial resilience and operational efficiency.
DP World affirmed that the new appointments support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.
