Saudi Crown Prince launches National Strategy for Industry

Saudi Crown Prince launches National Strategy for Industry

JEDDAH — Crown Prince and Prime Minister Mohammed bin Salman launched on Tuesday the National Strategy for Industry to realize the objectives of the Saudi Vision 2030.

The strategy focuses on 12 sub-sectors to diversify the Kingdom’s industrial economy while identifying more than 800 investment opportunities worth SR1 trillion.

“Through this strategy and in partnership with the private sector, Saudi Arabia will become a leading industrial power that contributes to securing global supply chains, and exporting high-tech products to the world,” the Crown Prince, who is also chairman of the Council of Economic and Development Affairs, said while unveiling the new strategy.

“We have all the possibilities to reach a competitive and sustainable industrial economy, thanks to the ambitious young talents; distinguished geographical location; rich natural resources, and leading national industrial companies,” he said.

The strategy aims to accomplish an industrial economy that attracts investments, which contributes to achieving economic diversification, and developing the domestic product and non-oil exports, in line with the objectives of the Saudi Vision 2030.

The National Strategy for Industry focuses on 12 sub-sectors to diversify the Kingdom’s industrial economy while identifying more than 800 investment opportunities worth SR1 trillion to constitute a new chapter of sustainable growth for the sector