The expansion of Saudi Arabia’s industry is a core part of the Kingdom’s Vision 2030 strategy to diversify the economy and reduce reliance on oil revenue. Industry has been targeted as a driver of future non-oil growth and job creation. Expansion plans are under way for the country’s main strategic industrial segments: oil and gas; petrochemicals; and mining, a significant potential...
Saudi Arabia Industry
Saudi Arabia has undergone significant reforms to foster growth and diversification. While some initiatives were delayed during the Covid-19 pandemic, progress in areas such as the digital economy accelerated. Aided by elevated oil prices in 2022, strategies underlined in Vision 2030 continue moving forwards, and the Kingdom today presents ample opportunities for foreign investors, underpinned by efforts to boost private sector participation in the economy.
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Interviews & Viewpoints | Suliman Almazroua, CEO, National Industrial Development and Logistics Programme (NIDLP): Interview from The Report: Saudi Arabia 2022
Where do you see opportunities to boost the value and competitiveness of the Kingdom’s exports?
Articles & Analysis | Demand for hydrocarbons, minerals and petrochemicals driving Saudi Arabia's economic growth from The Report: Saudi Arabia 2022
The expansion of Saudi Arabia’s industrial sector is a core part of the Vision 2030 strategy to diversify the economy and reduce reliance on hydrocarbons revenue. Industry has been targeted as a driver of future non-oil growth and job creation. Expansion plans are under way for the country’s main strategic industrial segments: oil and gas; petrochemicals; and mining, a...
Interviews & Viewpoints | Robert Wilt, CEO, Ma’aden: Interview from The Report: Saudi Arabia 2022
What role does the mining sector play in economic diversification, and what more can be done to integrate local companies in downstream value chains?
Articles & Analysis | GCC countries boosting downstream activities to increase petrochemicals exports from The Report: Saudi Arabia 2022
With Russia’s invasion of Ukraine reigniting debate about the pace of the energy transition and the risks of relying on oil and gas imports from countries with opposing agendas, discussion in the Gulf is framed around how to extract maximum benefit from hydrocarbons while also playing a responsible role in efforts to both mitigate climate change and maintain stability in...
Articles & Analysis | Saudi Arabia seeks to capitalise on mineral wealth from The Report: Saudi Arabia 2022
Saudi Arabia is seeking to attract SR637.7bn ($170bn) worth of investment in the mining industry by 2030 to help the country capitalise on its wealth of mineral resources, the total value of which is estimated to exceed SR4.88trn ($1.3trn), according to figures from the government. Global demand for minerals is likely to increase as the energy transition accelerates, with...
Articles & Analysis | The impact of rising oil prices on the Gulf’s shift to renewables from The Report: Saudi Arabia 2022
After opening 2022 at around $78 per barrel, Brent crude oil prices rose sharply over the next few months to surpass $127 on March 8 – the highest price in 14 years, driven in part by Russia’s invasion of Ukraine – before moderating slightly to around $106 as of mid-March. Although investment in oil and gas has fallen by about 30% since the outbreak of the Covid-19 pandemic,...