Saudi Arabia has launched the National Industrial Development and Logistics Program, which is part of 13 programs to achieve the the Kingdom’s Vision 2030.
Nabil bin Mohammed Al Amoudi, the Saudi Minister of Transport, said that "the program will contribute about 1.2 trillion riyals to the Saudi economy by 2030, which is more than half of the current size of the economy, and will increase the contribution of local content to more than 700 billion riyals," adding that this program will create 1.6 million jobs, and raise the volume of Saudi exports to more than one trillion riyals."
Al Amoudi also pointed out that "the distinctive mark that characterizes the industry program is the integration of the relevant governmental bodies through the convergence of the efforts of 34 government and semi-governmental bodies. Since the inception of the Kingdom’s Vision 2030, the industrial program has been planned and laid down. This was preceded by the launch of initiatives and the signing of agreements relating to the program worth 165 billion riyals on the sidelines of the initiative of the future of investment.
The Minister of Energy, Industry and Mineral Resources said that "the National Industrial Development and Logistics Program has more than 330 initiatives that will achieve more than one third of the objectives of the Kingdom Vision 2030. The projects will be ready to negotiate through deals worth more than 70 billion riyals, forming the first installment of investments, and we hope through this program to attract trillion and 600 billion riyals of investments."
Source: (Al-Arabiya.net, Edited)
