Saudi Arabia's Deputy Minister of Industry Boosts Private Sector Investment in Manufacturing, Surpassing $1.8 Billion in Q1 2024
Saudi Arabia's goal is to increase private sector investment in manufacturing, using the country's rapid growth as a catalyst.
According to Khalil bin Salamah, the Deputy Minister of Industry and Mineral Resources for Industrial Affairs, collaboration with non-government entities is crucial for industrial development.
He emphasized that private sector partnerships fuel economic growth and that effective cooperation between government and non-government entities helps overcome challenges, as reported by the Saudi Press Agency.
The deputy minister of the Saudi Arabian Ministry of Investment, Bin Salamah, expressed excitement about leading the private sector in increasing investments in the manufacturing sector, which more than doubled in the first quarter of 2024, surpassing SR7 billion ($1.8 billion).
The growth is a result of the national industrial strategy, which is built in partnership with the private sector.
The goal is to boost private sector investments further by encouraging cooperation between core and transformational companies to develop businesses and create new opportunities.
The deputy minister of industry and mineral resources in Saudi Arabia, Bin Salamah, announced that the country is working to increase production capacity in the petrochemical industry.
A committee has been formed to address challenges related to the availability and competitiveness of petrochemical materials.
Bin Salamah invited all companies in the sector to collaborate and find solutions.
He emphasized that as a leading country in petrochemicals, Saudi Arabia aims to expand supply chains to boost economic growth and support related industries.
The Ministry of Industry and Mineral Resources is working with the Ministry of Energy and the government to enhance the integration of petrochemical supply chains in the Kingdom.
The deputy minister of industry and mineral resources in Saudi Arabia, Bin Salamah, discussed the country's efforts to ensure the availability and competitiveness of petrochemical materials for specialized product production.
These efforts aim to boost sector growth, enhance supply chain integration, and strengthen the industrial base to diversify the economy.
Attracting private sector investments is a key part of the industrial strategy, and the industrial system is crucial for enabling growth and development by integrating sectors and their supply chains, developing infrastructure, and encouraging joint projects between companies.
The ministry is focusing on maintaining industrial growth in the Kingdom.
They are hosting the Industry Week, which features four concurrent exhibitions: Saudi Plastics & Petrochem, Saudi Print & Pack, Saudi Smart Manufacturing, and Smart Logistics Services.
He emphasized that private sector partnerships fuel economic growth and that effective cooperation between government and non-government entities helps overcome challenges, as reported by the Saudi Press Agency.
The deputy minister of the Saudi Arabian Ministry of Investment, Bin Salamah, expressed excitement about leading the private sector in increasing investments in the manufacturing sector, which more than doubled in the first quarter of 2024, surpassing SR7 billion ($1.8 billion).
The growth is a result of the national industrial strategy, which is built in partnership with the private sector.
The goal is to boost private sector investments further by encouraging cooperation between core and transformational companies to develop businesses and create new opportunities.
The deputy minister of industry and mineral resources in Saudi Arabia, Bin Salamah, announced that the country is working to increase production capacity in the petrochemical industry.
A committee has been formed to address challenges related to the availability and competitiveness of petrochemical materials.
Bin Salamah invited all companies in the sector to collaborate and find solutions.
He emphasized that as a leading country in petrochemicals, Saudi Arabia aims to expand supply chains to boost economic growth and support related industries.
The Ministry of Industry and Mineral Resources is working with the Ministry of Energy and the government to enhance the integration of petrochemical supply chains in the Kingdom.
The deputy minister of industry and mineral resources in Saudi Arabia, Bin Salamah, discussed the country's efforts to ensure the availability and competitiveness of petrochemical materials for specialized product production.
These efforts aim to boost sector growth, enhance supply chain integration, and strengthen the industrial base to diversify the economy.
Attracting private sector investments is a key part of the industrial strategy, and the industrial system is crucial for enabling growth and development by integrating sectors and their supply chains, developing infrastructure, and encouraging joint projects between companies.
The ministry is focusing on maintaining industrial growth in the Kingdom.
They are hosting the Industry Week, which features four concurrent exhibitions: Saudi Plastics & Petrochem, Saudi Print & Pack, Saudi Smart Manufacturing, and Smart Logistics Services.
Translation:
Translated by AI