Industry

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 away from oil. With value-added industry and mining set to play substantial roles, importance has been placed on projects that will utilise the Kingdom’s raw material wealth, including petrochemicals, metals and phosphates, and develop a full chain of upstream and downstream opportunities for both local and international firms.