ADA organizes a workshop to discuss Riyadh Regional Economic Action Plan
On April 4, 2016, the High Commission for the Development of Arriyadh organized a workshop at Tuwaiq Palace to discuss Riyadh Regional Economic Action Plan, in the presence of representatives of government agencies. The plan has been developed by the High Commission in coordination with the concerned stakeholders from public and private sectors, and in cooperation with an international consulting firm.
The plan is a sub-program of Riyadh Regional Plan, which aims to spread the balanced development in Riyadh Region.
During the workshop, objectives of the program were outlined as follows:
- Study of the economic potentials, identification of the comparative advantage, and improvement of the competitiveness of the region’s governorates.
- Enhancement of the economic attractiveness of the governorates of the Region, and development of action programs for production environment, training/employment, and infrastructure.
The plan also identified the following four targets for the local economies of the Region’s governorates:
- Governorates with attractive residency and business potentials
- Governorates with competitive economic advantages
- Governorates industrially/economically specialized
- Governorates with sustainable economy and growth
Analysis of the economic performance of Riyadh Region
The workshop also discussed the economic study, carried out by the Plan’s team, to analyze the economic performance of the Region and its phases that included:
- Study of similar international leading economic development experiments
- Review of Riyadh Regional Plan in general, and its economic strategy in detail
- Interviewing more than 40 agencies concerned with the economic development in Riyadh Region and its governorates to explore their development visions and plans, and identify possibility of the relocation of some activities and projects based in the city of Riyadh to the Region’s governorates
- Conducting a field study of the private sector that included about 350 private companies
- Study of government spending in the governorates and determining the share of each governorate with its economic and service sectors.
- Preparing a comprehensive evaluation model for economic performance consisting of 123 indicators and 12 different categories.
- Listing all economic projects and recommendations at the level of the governorates, taking into account all the studies, analyses, inputs and results of the previous phases
- Preparing the necessary schedules and studying the economic influence of 31 major projects in the governorates of Riyadh Region
- Preparing interactive maps of Riyadh Region’s economic indicators