The Saudi Crown Prince, Prime Minister and Chairman of the Council for Economic and Development Affairs, Prince Muhammad bin Salman bin Abdulaziz Al Saud, launched the National Strategy for Industry, aiming to reach an industrial economy that attracts investment that contributes to achieving economic diversification, developing domestic product and non-oil exports, in line with the objectives of the Saudi Vision 2030.
The strategy aims to provide more than 800 investment opportunities worth one trillion riyals, to constitute a new chapter of sustainable growth for the sector. It also 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. It is also estimated that the national strategy for industry will contribute to bringing the total value of additional investments in the sector to 1.3 trillion riyals.
The Crown Prince affirmed, "We have all the possibilities to reach a competitive and sustainable industrial economy, from ambitious young talents, a distinguished geographical location, rich natural resources, and leading national industrial companies. Through the national strategy for industry and in partnership with the private sector, the Kingdom will become a leading industrial power that contributes to securing global supply chains, and exports high-tech products to the world.”
Source (Al-Arabiya.net Website, Edited)
