SaudiArabiaPR.com, Online Press Release from Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina
 
Infrastracture, Construction & Manufacturing(Real Estate & Retail)
Filter PR by
  
Municipal investments can contribute SAR 20 billion annually to KSA's GDP, says Bain & Company
 

Benefits include government revenue worth SAR 5 billion and 125 thousand jobs

27 February 2020 - Diverse municipal investments can give rise to more internationally competitive cities in Saudi Arabia and accelerate the Kingdom’s development in line with Vision 2030 by contributing SAR 20 billion annually to gross domestic product (GDP). Global management consulting firm Bain & Company presented this finding during the recently concluded Municipal Investments Forum in Riyadh.   

Bain & Company led a workshop titled the ‘Role of Municipal Investment in Achieving Vision 2030 and Associated Impact’ during the forum, which took place Feb. 24 – 26, 2020 to highlight an array of investment opportunities in Saudi Arabia’s municipalities.

Samer Bohsali, a Middle East-based partner in Bain & Company’s Public sector practice led the workshop. During the presentation, Mr. Bohsali noted that municipal investments are pegged to achieve SAR 5 billion to government revenue annually apart from creating 125 thousand jobs for the locals and residents.  

“Given the immense economic impact of municipal investments, it is critical to entice more investors into supporting initiatives in various municipalities and governorates,” said Mr. Bohsali. “Investments such as these are key to building competitive cities in Saudi Arabia in support of the goals and objectives of Vision 2030.”

According to Mr. Bohsali, municipal investments can support 35 objectives of Vision 2030 and its six main programs, namely Privatization, Housing, Quality of Life, Hajj, National Transformation, and Fiscal Balance.

“It is significant for governments worldwide, not just in Saudi Arabia, to focus on building competitive cities because of their many economic benefits,” he said. “A competitive city’s GDP growth stands at 5x compared with average cities. Job growth stands at 4.5x relative to average cities. In terms of income growth, competitive cities experience a 10x increase compared with average cities.”

Besides municipal investment contributions to Vision 2030, Mr. Bohsali also shared with the attendees, how Saudi Arabia's cities are performing today based on the main components of a competitive city. The Kingdom presents many opportunities, including mixed-use developments, which provide residential, office, and commercial space, to local, regional, and global investors in line with Vision 2030.

This year’s Municipal Investments Forum highlighted not only the many opportunities in the municipal sector but also provided a platform for the participants from the public and private sectors to build partnerships, share ideas, and propose solutions to challenges. Bain & Company’s session was one of a series of workshops during the event.  


Posted by : Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina PR Network Editorial Team
Viewed 25224 times
PR Category : Real Estate & Retail
Posted on : Sunday, March 1, 2020  8:39:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of SaudiArabiaPR.com.
Previous Story : Guinness World Records hails Saudi Arabia's Maraya Concert H...
Next Story : SDRPY Launches Saudi-Yemeni Workshop
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Max Factor Welcomes Priyanka Chopra-Jonas As Global Ambassador And Creative Collaborator [7567-Views]
Police Backpacks [7403-Views]
Pandora's Global Muses Celebrate the Return of Special Occasions [6955-Views]
Max Factor X Priyanka Chopra Jonas: Matte Confidence Look [6667-Views]
Curly Hair Girls Rejoice! Cult Haircare Brand SASHAPURE Launches in the Middle East [6639-Views]
Presenting TARONGA - the new addition to the Rebel collection [6269-Views]
Louis Moinet Moon Race - A Journey through Space [5720-Views]
Major Saudi Aerospace Players to take part at Dubai Airshow 2021 [4113-Views]
M•A•C Cosmetics News: M•A•C X Rosalia [3791-Views]
Oral-B iO™, The Biggest Innovation in Oral Care History [3750-Views]
Ogilvy Names Ben Messiaen Chief Client Officer for EMEA [3157-Views]
Ogilvy Names Patou Nuytemans Regional Chief Executive Officer for EMEA [3027-Views]
Tanmiah Delivers 1H21 Revenue Growth of 27.6%; Net Income at SAR 22.2 Million Following IPO; Plans M... [2524-Views]
IATA Welcomes Latest Developments by Government of Saudi Arabia to Restore International Connectivit... [2500-Views]
UAE Residents, Visitors and Saudi Citizens Come Together to Celebrate 91st KSA National Day in Dubai [2491-Views]
Guinness World Records Verifies Oldest Identical Twins Ever [1998-Views]
For Every Story, For Every Me [1946-Views]
The Tonda PF Collection- A Purist's Delight for Those in the Know [1800-Views]
This 91st Saudi National Day, Step in for a Luxury Retreat with 15% off at Ascott Rafal Olaya Riyad... [1692-Views]
Big Crown ProPilot Big Date Bronze- Flair Time [1662-Views]
 
RSS Facebook Twitter LinkedDin SaudiArabiaPR.com on Instagram
 
Top Sections
 
Top Stories