Private sector must ‘step up’ for Saudi Vision 2030 goals, says Crescent’s Badr Jafar

Private sector must ‘step up’ for Saudi Vision 2030 goals, says Crescent’s Badr Jafar:

One of the Arabian Gulf’s leading businessmen believes the private sector in Saudi Arabia must play a greater role in the Vision 2030 strategy to diversify the nation’s economy and reduce its dependency on oil revenue.

“The private sector in Saudi Arabia has to step up and take authentic ownership of the Saudi Vision 2030,” said Badr Jafar, president of Crescent Petroleum, the Sharjah-based international conglomerate with interests in shipping, ports, energy and several other industrial sectors.

Speaking to Arab News on the sidelines of the World Economic Forum (WEF) Annual Meeting in Davos, he added: “When people think of a country in the Middle East region, they tend to think of just its government but I like to think of the whole ecosystem, both public and private sector. I believe the private sector has to play a bigger part in both Saudi Arabia and the UAE.”