While other economies are stagnating, Saudi Arabia’s economy is growing at a fast
rate. The Kingdom is considered the largest producer and exporter of petroleum and
has the largest proven oil reserves of any other nation; however, the majority of
Saudi Arabia’s export revenue derives from oil which is a limited. Therefore, developing
sustainable strategies to diversify Saudi’s economic resources is crucial. As such,
the government has initiated a long term diversification strategy to promote the
economy labeled the “Saudi 9th Development Plan. In its 2nd edition, the 9th Development
Plan, a five-year program of economic targets for 2010 – 2014, the government has
set an ambitious target of GDP growth for the next 3 decades. The primary contributor
to Saudi’s future growth will be the “nonoil private sector”. Plan spending projections
are estimated to be close to SR1.44 trillion and just over half of this allocation
will go toward developing human resources, which includes all levels of education
and training. Other sectors include; Social & Health, Economic Resources, Transportation
and Communication, and Municipal and Housing Services. As a result of this ambitious
diversification plan new business opportunity is now abundant in the Kingdom.
PMU’s Entrepreneurship Center prepares the next generation of Saudi business leaders
through education, training and ongoing support. We nurture the creative thinker
and set the foundation for learning in the truest sense of entrepreneurship.
PMU’s Entrepreneurship Center will develop the next generation of entrepreneurs
in the Middle East fully capable of competing in the worldwide market place.
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For more information about our latest services, please visit our website http://www.pmuentrepreneur.org