Saudi Arabia was re-affirming diplomatic relations with key allies in East Asia when King Salman bin Abdulaziz Al Saud embarked on a tour of the region in early 2016, but the itinerary also included talks to cement existing commercial ties while paving the way for new investments and joint ventures (JVs). The Kingdom was also staking out...
Petro-dollars earned from oil exports comprise the majority of Saudi Arabia’s revenues, yet gas is seen as key to diversifying the economy. If the Kingdom is to make the most of the cost opportunity granted to it by oil, it must reduce the amount of oil used to generate power for factories and petrochemicals plants. The medium-term National...
Economic planners in Saudi Arabia are working to nurture industrial growth by identifying sectors with high potential and developing clusters of companies and expertise within them. The National Industrial Clusters Development Programme (NICDP) has been established under the supervision of the Ministry of Commerce and Investment (MoCI), and the...
At a time of great change in Saudi Arabia and amidst debates about rapid economic diversification, it is perhaps easy to overlook the fact that even in the most optimistic forecasts of Saudi Vision 2030 – the national development strategy – the oil and gas sector will account for at least half of the country’s exports in the fourth decade of...
Looking forward to 2032, the King Abdullah City for Atomic and Renewable Energy (KACARE) estimates that 13-14% of Saudi Arabia’s power will be generated by nuclear reactors, and an eventual goal has been set of supplying 17.6 GW of power to the national grid. In addition, the Kingdom hopes that this investment will not only help meet growing...
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