Saudi Arabia will on Thursday unveil a SAR72bn (USD19bn) programme to bolster private-sector growth in 2018, with money to support housing construction as well as fee waivers for small businesses, Commerce and Investment Minister Majid Al-Qasabi said. The package, part of a four-year stimulus programme announced last year, contains 17 separate initiatives the government hopes will result in direct and indirect job creation, Al-Qasabi said in an interview in Riyadh. It is a key component of the Kingdom’s Vision 2030 economic-transformation plan ahead of the 2018 budget due next week. "Next year is the year for stimulus," Al-Qasabi said, adding, "that’s how we will strengthen our bonds with local and international investors." Al-Qasabi said the stimulus package includes SAR21bn for housing and SAR14bn more in part for efficient home design and engineering. An additional SAR5bn will go towards an export-import bank. The government also will reimburse fees paid by small and medium-sized enterprises (SMEs) for a period of four years and selectively provide other breaks to incentivise job creation, the Minister said. Saudi Arabia has one of the world’s highest youth unemployment rates, and Prince Mohammed had made reducing it one of his priorities. Legal reform is another area of focus. Al-Qasabi said he expects the Bankruptcy Law to be in place in about three months and separate laws for commercial asset-based financing and franchising within six months. The Shura Council, an advisery body, passed a draft Bankruptcy Law Wednesday. “Uncertainty is the enemy of investment,” he said. "We need to restore investor confidence in Saudi Arabia. We need to benchmark against other countries that have these laws." Al-Qasabi said logistics and municipal utilities are likely to be some of the next state-owned industries to be privatised. He said he expects some port activities to be sold by end-2018, with water, sewage and public parking amongst those to follow.