Saudi Arabia's industrial policy shift may unlock private investment

Saudi Arabia is changing how it measures the success of its industrial policies. This means the government will now look at how much private money a project attracts, not just how much government money it spends. This could encourage companies to invest more in the country.

For years, Saudi Arabia has poured state money into developing new industries. This paper suggests a shift in focus. By prioritizing projects that attract private capital, the government signals it wants to move away from solely state-led development. This could mean a more dynamic private sector emerges, but it also means companies that rely purely on government funding might struggle to get support.