Saudi Arabia has long been a major investor in its military, with defence outlays representing a significant portion of the national budget. Despite the drop in oil prices since mid-2014, which in the short term is having a noticeable impact on the government’s military spending, defence outlays are likely to continue to grow, with multi-billion-dollar contracts still being signed. While...
Saudi Arabia Industry
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Chapter | Security, Aerospace & Defence from The Report: Saudi Arabia 2016
In recent years an emphasis has been placed on growing the Kingdom’s non-oil private sector by bringing in manufacturing and other industries to diversify the economy. The National Transformation Programme has replaced the Kingdom’s 10th Development Plan and establishes the means by which the country will meet the objectives set out in Vision 2030, whose main goal is to diversify the economy...
With some analysts expecting Saudi Arabia’s population to expand by over 10m to reach 39.1m by 2030, alongside continued growth in the Kingdom’s energy-intensive industries, demand for electricity and desalinated water is set to rise considerably in the coming years. Estimates suggest that more than SR500bn ($133.3bn) will need to be invested in the power sector over the next 10 years to...
2016 witnessed the launch of the Kingdom’s historic Vision 2030 and the accompanying National Transformation Programme, both of which call for a major overhaul of the state’s economic apparatus and envision a more open market framework and more dynamic, private sector-led growth moving ahead.
Chapter | Security, Aerospace & Defence from The Report: Saudi Arabia 2015
In 2014 Saudi Arabia spent 35% of its budget on defence, equivalent to roughly $80.7bn. The coming years are likely to see increased emphasis on homeland security in three areas: securing the Kingdom’s northern and southern borders, cybersecurity and counter-terrorism. The Kingdom remains focused on developing a sophisticated domestic defence industry, investing heavily to this end in research...
The abundance of hydrocarbons in the Kingdom has led to a proliferation of downstream petrochemicals businesses. The natural gas that is allocated to producers at a subsidised price forms a significant part of Saudi Arabia’s value proposition to foreign investors. Demand from rapidly expanding markets in Asia, as well as steady sales to established Asian centres, should ensure that the Kingdom...