Industry & Mining
From The Report: Saudi Arabia 2024
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Saudi Arabia’s industrial and mining sectors are key to its diversification and privatisation efforts, supported by public investment, regulatory reforms and growing foreign direct investment. The Ministry of Industry and Mineral Resources, established in 2019, oversees these sectors and implements the 2020 Mining Investment Law. With the National Industrial Development and Logistics Programme, the Kingdom aims for 84% growth in non-oil industries and 55% growth in local content manufacturing by 2030. The National Industrial Strategy targets increasing the manufacturing sector’s GDP contribution from $88.3bn in 2020 to $239bn by 2030. Key areas include automotive, aviation, chemicals and renewable energy, driving investment and job creation while diversifying away from oil. 

This chapter also contains interviews with Munir Eldesouki, CEO, King Abdulaziz City for Science and Technology; and Saleh Al Solami, CEO, Industrial Centre.

Articles from this Chapter

Overview

Strategic development: Localisation initiatives and the rapid implementation of renewable energy solutions situate the Kingdom to benefit from key markets
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Saudi Arabia’s industrial and mining sectors are linchpins of the country’s diversification and privatisation initiatives. Local content requirements, upgrades in logistics infrastructure and ambitious government growth targets have engendered significant transformation in Saudi Arabia’s industrial and mining sectors, making them increasingly dynamic and diversified contributors to the economy. Thanks to major public investment, legal and regulatory updates, and growing foreign direct investment…

Interview

Centred on excellence: Munir Eldesouki, CEO, King Abdulaziz City for Science and Technology (KACST), on creating spaces that serve as nodes for sharing resources, knowledge and expertise
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Interview: Munir Eldesouki, CEO, King Abdulaziz City for Science and Technology What role do research and development (R&D) initiatives play in enhancing Saudi Arabia’s competitive edge in the global technology landscape? MUNIR ELDESOUKI: R&D initiatives are a key factor in strengthening the Kingdom’s competitive advantage across multiple vertical markets. If you analyse a value chain of any product in the market, it would either be the curiosity of a scientist that might lead to a…

Interview

Expansion plans: Saleh Al Solami, CEO, Industrial Centre, on implementing new technologies to boost production and competitiveness
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Interview: Saleh Al Solami, CEO, Industrial Centre To what extent will advanced manufacturing technologies drive the next phase of industrial growth? SALEH AL SOLAMI: Advanced technologies, particularly automation and artificial intelligence (AI), will be pivotal in shaping the future of Saudi Arabia’s industrial landscape. These technologies are integral to the Kingdom’s ambition to establish a competitive and innovative industrial sector, as outlined in the Vision 2030 framework. One of the…

Analysis

Innovative model: Increased collaboration between local and international entities is expected to bolster the foundation for sustainable progress
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Saudi Arabia is undergoing a significant transformation under Vision 2030, the national agenda aimed at developing a diversified, knowledge-based economy and reducing the Kingdom’s reliance on fossil fuels. At the heart of this transformation is a focus on research, development and innovation (RDI), seen as a major catalyst for economic diversification and the generation of added value in the industrial sector. Saudi Arabia’s commitment to RDI can be seen in its target to increase RDI investment…

Analysis

Digital transformation: Industry 4.0 and machine-learning technologies are reshaping the manufacturing landscape in emerging economies
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Amid the backdrop of dynamic shifts in global trade patterns and technological advancement, Industry 4.0 and artificial intelligence (AI) are substantially reshaping manufacturing landscapes in emerging markets. Although challenges exist for full implementation – including infrastructure and skill gaps – rapid urbanisation and a burgeoning young workforce in these countries drive demand for automation and smart technologies, in tandem with highly connected global supply chains. As such, many…