The national strategy for the industry in Saudi Arabia, launched by Saudi Crown Prince Mohammed bin Salman, focuses on 12 subsectors to diversify the Kingdom’s industrial economy.
The strategy has identified over 800 investment opportunities worth one trillion riyals, to constitute a new chapter in the sustainable growth of the sector.
It aims to achieve ambitious economic returns for the Kingdom by 2030, including: doubling the industrial domestic product by about 3 times and doubling the value of industrial exports to reach 557 billion riyals.
The national strategy for the industry is also working to bring the total value of additional investments in the sector to 1.3 trillion riyals and to increase exports of advanced technology products by about 6 times, as well as creating tens of thousands of jobs. of quality and high value work.
Read more: Prince Mohammed bin Salman launches the national industrial strategy
Through the national strategy for industry, the Kingdom aspires to empower the private sector, increase the flexibility and competitiveness of the industrial sector, as well as industrial flexibility, which guarantees continuity of access to goods that are important for the citizen’s well-being and continuity. of economic activity and drive the regional industrial integration of value chains, and benefit from the strength of the Saudi economy and achieve global leadership in a group of subjects prime select, investing in promising new technologies.
The Kingdom’s industrial sector is built on solid industrial foundations and built successes in 50 years, as it helped add over 340 billion riyals to gross domestic product and provided many quality jobs and business opportunities in various industrial sectors.
Read more: The national strategy for the industry in Saudi Arabia .. 4 main possibilities
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