Question

Explain the role of private sector in the era of globalization

Answer 1

In spite of tangible past accomplishments, Saudi Arabia faces future challenges that, if not addressed, will be difficult to overcome. One key objective is for the private sector to take the lead in reducing its reliance on oil revenues and in diversifying its economy. As we will explain in the chapters that follow, the Kingdom has not yet created a sufficient number of jobs for its Saudi population, nor has it adequately diversified its economy, although some progress has been made in expanding the non-oil GDP base