Minister of Industry: The industrial sector's contribution amounts to half a trillion riyals
Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef, revealed the qualitative leaps achieved by the industrial sector in the Kingdom of Saudi Arabia, announcing that the number of industrial establishments has increased from 8,000 establishments at the beginning of the Vision to 12,000 industrial establishments currently, which reflects the rapid growth rate in this vital sector.
Speaking at a government press conference held on Wednesday, Al-Khurayyif explained that the industrial sector's contribution to the GDP reached half a trillion riyals, a figure that reflects the success of strategic plans aimed at diversifying income sources. He also noted that the sector has successfully created 480,000 job opportunities, directly contributing to reducing unemployment rates and increasing the Saudization rate in specialized and technical jobs.
Advanced Infrastructure and Smart Industrial Cities
: In reviewing the infrastructure, the Minister highlighted the existence of 42 industrial cities currently spread across various regions of the Kingdom. This expansion of industrial cities is part of a comprehensive national strategy aimed at creating an attractive environment for local and foreign investments and providing the necessary logistical and technological services to enable factories to operate with high efficiency, in line with the objectives of the National Industrial Development and Logistics Program (NIDLP).
the “Made in Saudi Arabia
” program, one of the most prominent national initiatives to strengthen the Kingdom’s industrial identity, highlighting its achievements in boosting confidence in Saudi products and increasing the Kingdom’s non-oil exports. He also emphasized the upcoming “Made in Saudi Arabia 2025” exhibition, stressing its role in empowering national industry and opening new horizons for international partnerships. Furthermore, he noted that the Kingdom’s selection as the guest of honor for the exhibition reinforces its position as a regional and global industrial hub.
The economic and strategic impact
of these figures is particularly significant in light of global economic shifts, as the Kingdom, through its Vision 2030, seeks to reduce its reliance on oil as the primary source of income. The fact that the number of factories has reached 12,000 and that the sector contributes half a trillion riyals is tangible evidence of the effectiveness of the legislative reforms and financing facilities provided by the government to industrial investors. Furthermore, the focus on mineral resources and manufacturing industries positions the Kingdom among the influential nations in global supply chains, especially in the mining and advanced manufacturing sectors.
