Saudi industrial sector to drive post-pandemic economic recovery – Report

Saudi industrial sector to drive post-pandemic economic recovery – Report

Riyadh - Mubasher: A new Covid Response Report (CRR) produced by Oxford Business Group (OBG), in partnership with Sherbiny, shines a spotlight on Saudi Arabia's industrial sector, examining its emerging role as a key engine of growth, in line with the country's efforts to diversify the economy away from a reliance on oil.

The CRR provides an in-depth analysis of the kingdom's response to the pandemic in an easy-to-navigate and accessible format, focusing on key data and infographics relating to the country's socio-economic landscape, according to a press release on Monday.

The report explores efforts under way to boost manufacturing's contribution to gross domestic product (GDP) by introducing value-added production to the oil and gas sector in segments such as plastic, as well developing local industrial solutions and equipment. The transition towards Industry 4.0, which was gathering pace even before the arrival of Covid-19, is another focus. The report considers the valuable part that the workplace transformation and adoption of new technologies could play in helping the kingdom to create private-sector jobs suited to its educated labour market, in a move that would dovetail with the aims of Vision 2030