During the symposium “Where has the Kingdom reached in developing industry” organized by the Saudi Economic Association today, His Excellency pointed out the importance of the industrial sector in diversifying sources of income, adding that the industrial strategy is built on three main axes, namely: Building the Kingdom’s local capabilities that help it face challenges And ensuring continuity, in addition to investing in natural resources and exploiting the distinguished geographical location to reach the world by investing in a number of manufacturing industries that will have an added value to the national economy, and looking to the future by focusing on future industries that qualify the Kingdom to compete with other countries.
He explained that the ministry is working through the industrial strategy for the national industry to be globally competitive, by enabling local content and the Fourth Industrial Revolution, pointing out that the Kingdom will be an incubator for creativity and innovation, and the best example for activating this step is “Oxagon”, which will be one of the largest incubators for the tools of the revolution. The fourth industrial area, which will contribute effectively to protecting the environment.
His Excellency stated that the Ministry is working seriously towards promoting digital transformation through a plan to automate 4,000 factories, relying on the Kingdom’s global excellence in technical infrastructure, and employing its technologies by taking advantage of the applications of the Fourth Industrial Revolution, especially in light of the presence of a young generation that represents a large segment of a number of residents of the kingdom.
His Excellency pointed out that the ministry has an ambitious plan for the geological survey, as it is working to obtain various high-resolution geological data for the Arabian Shield, which covers an area of up to 600,000 km2 of the Kingdom’s area, with the aim of providing data and optimal exploitation of natural resources, in addition to exploring investment opportunities in The mining sector, stressing that the Kingdom’s vision seeks for mining to be the third pillar of the national industry.
He pointed to the role of the “Made in Saudi Arabia” program in promoting belonging to the local product and building a positive mental image of it, indicating that the program includes approximately 1,300 companies, and despite the challenges of the Corona pandemic, the national products reached the markets of 178 countries during the past year, and non-oil exports recorded the highest A half-value in its history for the first half of 2021, with an estimated increase of 37%, achieving 125.3 billion riyals of revenue, stressing that the launch of the Export-Import Bank, the Made in Saudi Program, and the presence of the Export Development Authority are contributing factors that meet the provision of logistical support and financial guarantees to exporters. Saudis and international buyers, to ensure the development and diversification of Saudi exports, and to increase their ability to compete in global markets in various sectors.
The Minister of Industry and Mineral Resources stressed that the industrial sector is actively working to provide direct and indirect jobs, pointing to the implementation of several programs to qualify Saudi youth to work in industrial professions, in cooperation with the Technical and Vocational Training Corporation and the Human Resources Development Fund “Hadaf”, pointing out that The oases of the industrial cities provided women with great job opportunities, and gave them space to practice their craft and manufacture their products.