Role of the Private in Economic Growth Sustainability in Saudi Arabia

Mohammed Adaya Salisu; Habiballah Mohammed Al-Torkistani; Khalid A. Maimani

Mohammed Adaya Salisu Lancaster Creed Consultants Ltd, Lancaster, United Kingdom & MERG, King Abdulaziz University, Jeddah, Saudi Arabia
Habiballah Mohammed Al-Torkistani Faculty of Economy and Administration & Marketing and Economic Research Group (MERG), King Abdulaziz University, Jeddah, Saudi Arabia
Khalid A. Maimani Faculty of Economy and Administration & MERG, King Abdulaziz University, Jeddah, Saudi Arabia

Keywords: Saudi Arabia, Sustainable Growth, Private Investment, Environmental Goods and Services, Diversification, Renewable Energy, Energy Efficiency, Environmental Investments, Private Sector.

Abstract

This paper examines the role of the private sector in promoting sustainable economic growth in Kingdom of Saudi Arabia via investments in environmental goods and services, which can help promote the Saudi Vision 2030 transformation agenda of diversifying the economy. Using a quantitative analysis of the link between environmental investment and economic growth, the paper discusses the role of the private sector in a number of bankable environmental businesses, including renewable energy, environmental equipment and environmental services. The paper, however, emphasises the role of policy incentives in attracting the private into environmental businesses.

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