Minister of Industry: The sector's contribution is half a trillion riyals and includes 12,000 factories
Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef, revealed record figures reflecting the rapid development witnessed by the industrial sector in the Kingdom of Saudi Arabia, announcing an increase in the number of industrial establishments from 8,000 establishments at the beginning of the Vision to 12,000 industrial establishments currently, which represents a qualitative leap in the Kingdom’s productive infrastructure.
Speaking at a government press conference held on Wednesday, Al-Khorayef 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 enhancing local content. The minister also noted that this significant industrial growth directly contributed to creating real job opportunities, with the sector providing approximately 480,000 jobs, thus bolstering localization efforts and reducing unemployment rates.
Pillars of Vision 2030 and Economic Transformation
These figures are a culmination of the Kingdom's efforts within the framework of Vision 2030, which primarily aims to diversify income sources and reduce reliance on oil as the sole driver of the economy. The National Industrial Development and Logistics Program (NIDLP) is a key pillar of this vision, working to transform the Kingdom into a leading industrial power and a global logistics hub. The increase in the number of industrial cities to 42 currently underscores the government's commitment to providing advanced infrastructure and an attractive environment for both domestic and foreign investment.
Economic and strategic impact
The significance of these achievements extends beyond mere figures; it encompasses bolstering the Kingdom's industrial, food, and pharmaceutical security. The increased number of factories translates to greater domestic manufacturing capacity, thereby reducing the import bill and boosting non-oil exports—a strategic objective the Kingdom is striving to achieve to strengthen its trade balance. Furthermore, the sector's contribution reaching half a trillion riyals establishes a new era in which industry becomes a key driver of sustainable growth.
The “Made in Saudi Arabia” program and future prospects
In a related context, the Minister addressed the “Made in Saudi Arabia” program, a national initiative aimed at strengthening the industrial identity of Saudi products both domestically and internationally. He highlighted the upcoming “Made in Saudi Arabia 2025” exhibition, which is expected to be a major platform for showcasing the Kingdom’s industrial capabilities, opening new avenues for international partnerships, and enabling Saudi manufacturers to access new markets, thus solidifying the Kingdom’s position as a vibrant industrial hub in the region.
