The comprehensive reforms taking place across Saudi Arabia’s economy include strategies to nurture the development of a broader industrial sector, while also improving the employment prospects and living standards of citizens. Particular focus is being paid to industries that can provide opportunities for young Saudi citizens and residents of...
Amid ongoing reform of subsidies, the gradual privatisation of public assets, and ambitious plans to expand seawater desalination facilities and improve sanitation infrastructure, Saudi Arabia’s utilities sector will undergo significant changes over the coming years. In order to diversify its energy mix, the Kingdom is pursuing a series of...
In its drive to diversify the economy and reduce its reliance on oil export revenues, Saudi Arabia is backing soft loans for industry using significant state allowances. In December 2016 Khalid Al Falih, the minister of energy, industry and mineral resources, announced a substantial boost in capital provided to the Saudi Industrial Development...
Bold strategies to use industry as an engine of economic change could see new gold mines, plastics factories and medical laboratories boost growth, prosperity and jobs. While raising the profile of private enterprise, the government is also planning to inject capital into promising sectors, setting ambitious targets for itself and for industry...
The first foreign visit of US President Donald Trump’s term saw business leaders from Saudi Arabia and the US signing nearly $400bn worth of agreements and deals. These commercial agreements were designed to foster mutual benefits and investments in both countries. King Salman bin Abdulaziz Al Saud met President Trump just over a year after...
Large-scale renewable energy investments, and new rules specifying how much revenue from Saudi Aramco must be spent on domestic content, are set to drive manufacturing growth. Creating a local supply chain is at the heart of plans to install 3.5 GW of renewable energy capacity by 2020, while the In-Kingdom Total Value Add (IKTVA) programme...
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