Riyadh – Mubasher: The Saudi Minister of Finance, Mohammed Al Jadaan, said the kingdom started to lay out clear plans to diversify the economy and avoid fluctuations.

The GCC nation provided SAR 218 billion in support to the private sector as per specified programmes, he remarked during the Euromoney conference held virtually on Thursday.

He further reiterated that the kingdom’s economy is the largest regionally and that this year has been one of the most challenging years due to the coronavirus pandemic. 

The government support has significantly helped navigate the ongoing crisis, he noted, adding that all economic sectors received sufficient support from the government. 

“We received many requests for foreign investments in the kingdom. There are more than 50 countries in the world trying to enter the Saudi market,” he revealed.

The GCC nation is diligently working to ensure the resources are appropriately utilised, Al Jadaan pointed out, expecting the new COVID-19 to not impact the state's long-term plans.

Still, according to the minister, the government considers privatisation and has settled trade agreements worth billions of dollars.