Ambitious plans to develop and expand automotive manufacturing are being drawn up, with a view to capitalising on the increasing availability of raw materials and a strong domestic market for cars and trucks. In August 2018 the Ministry of Energy, Industry and Mineral Resources (MEIM) announced that the Kingdom “is currently developing a city...
With record public expenditure of SR1.1trn ($293.3bn) in 2019 and government stimulus packages for the private sector, schemes devised under Vision 2030 to boost employment levels of Saudi workers and create new opportunities for local businesses look set to bear fruit. A range of planned infrastructure projects are set to begin construction....
The sweeping changes announced in Vision 2030 aim at giving rise to a reinvigorated and prosperous private sector, driving growth through broad industrial development. By the time the G20 summit convenes in Riyadh in 2020, four years after the Vision 2030 announcements, the country’s leaders will be able to showcase some of the first results...
The global economy is entering the Fourth Industrial Revolution (4IR), or Industry 4.0, based on the application of new digital and automated technologies in production processes and service delivery. These changes are presenting emerging markets with opportunities such as improved productivity, as well as risks, namely reshoring and the...
In order to achieve its objectives of broadening the energy mix and diversifying the economy away from oil dependence, the government is pursuing reform of the energy sector. Vision 2030, the Kingdom’s long-term economic diversification and development programme, foresees a greater role for the private sector in the provision of electricity...
Saudi Arabia has no permanent running surface water and experiences an average of 100 mm of rainfall per year, with this largely concentrated in the south-western mountains during the summer months. Traditionally, the country relied on wells drilled into non-renewable subterranean aquifers and surface run-off for its freshwater needs, and the...
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