Diversification of Economy in Saudi Arabia

According to Jamal J. Malaikah, President and COO of NATPET, “Diversification has always been on the table in Saudi Arabia. To be frank, in spite of the government’s efforts at diversification, to date, oil still plays the major role in the economy. We have seen the private sector move into electricity generation, telecommunications and transport. We see a lot of effort, and the government is playing a big part in it. However, in my opinion, it’s going to be a long road. It will take a while. The path to real diversification will take a lot of time and a great deal of effort on the part of the government and the private sector. “