Saudi Arabia has put in place ambitious plans to raise the value of its mining operations to reach SR260bn ($69.3bn) by 2030. Currently, the direct and indirect contribution of the sector to the Kingdom’s GDP is estimated to be around SR80bn ($21.3bn), with the sector accounting for 265,000 jobs, according to a speech made by Ali Al Naimi,...
With Saudi Arabia’s population now above 30m, and an increasing number of high-end private and public hospitals in the Kingdom, there are strong opportunities in the field of pharmaceuticals, not only for companies looking to import drugs but also for the local production of pharmaceuticals and medical devices, an area the government is eager...
Historically, oil has generated the majority of Saudi Arabia’s revenues and around 50% of its GDP. However, 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 (NTP) has replaced the Kingdom’...
Steps taken by national oil giant Saudi Aramco to consolidate some of its downstream assets, most notably in the US market, appear to be laying the groundwork for an initial public offering (IPO) and a move towards becoming a global refining leader. In mid-March 2016 Royal Dutch Shell’s US affiliate and Saudi Aramco’s downstream subsidiary...
There is a growing awareness in Saudi Arabia that cybersecurity is a major global priority, and that the Kingdom needs to be adequately prepared to deal with advanced cyberattacks. In August 2015 Saudi government websites, including state education, health, sports and municipal sites, were targeted and breached over the course of two hours....
One sector Saudi Arabia is pushing hard to develop is its domestic automotive industry. The national strategic plan, part of the Ninth Development Plan ( 2010-14), included automotive development as one of the central pillars of Saudi industrial strategy. In fact, the automotive industry is seen as part of a larger industrial project whereby...
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