Industry

Following two years of double-digit industrial growth in 2010 and 2011, non-oil output rose by 4.9% in 2012 and 4.7% in 2013. The Kingdom may still have a negative trade balance for industry – with exports of $35.08bn and imports of $103.35bn in 2012 – but with access to raw materials set to expand, foreign investors are showing interest in lighter segments. With the government making room for new segments in the industrial sector, expansion of capacity for fertilisers and phosphates, as well as new production plans for pharmaceuticals, the sector looks set to see considerable diversification in manufacturing. This chapter contains interviews with Abdulrahman Al Zamil, Chairman, Riyadh Chamber of Commerce and Industry, and Saleh Al Rasheed, Director-General, Saudi Industrial Property Authority.