Increased investment in Saudi Arabia’s mining sector looks set to lift its GDP contributions, as part of an accelerating push to diversify the economy under the Vision 2030 development plan. On April 24, 2017 Prince Khalid Al Faisal Al Saud, the governor of Makkah, formally opened a new gold mine and processing plant – the Ad Duwayhi mine,...
The fast-moving consumer goods (FMCG) industry supplies Saudi shoppers with local and international brands. A select group of domestic family-owned trading businesses are suppliers for the household brand names of the global FMCG business. Through joint ventures (JVs) and subsidiaries, these regional conglomerates are involved in the...
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...
In four decades the natural gas in Saudi Arabia’s oil fields has been transformed from an inconvenient by-product into essential feedstock for an industry that supports thousands of jobs and generates 15% of the country’s export revenues. Since its creation in 1976 by royal decree, Saudi Arabia Basic Industries Corporation (SABIC) has grown...
Bold strategies to use industry as an engine of economic change could see new gold mines, plastics factories and medical laboratories boost growth, prosperity and jobs. While raising the profile of private enterprise, the government is planning to inject capital into promising sectors, but it is also setting ambitious targets for itself and for industry. Though the launch of Vision 2030...
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