Saudi Arabia is rapidly expanding itsindustrial sector with foreign and jointinvestments totaling more than SR542 billion ($144 billion), as the Kingdomcontinues to diversify its economy.
The total number of factories in theKingdom's industrial sector as of May 2023reached 10,910 with investments amountingto more than SR1.45 trillion.
Saudi Arabia aims to boost the sector'sgrowth and increase the number offactories to approximately 36,000 by 2035.The Saudi industrial sector is therefore embarking on an agenda based on industry4.0,a more efficient and educatedworkforce,and investment and technologytransfer.
The Saudi Arabia Vision 2030 lays out 96objectives within 13 programs, each with itsown measurable goals.Plans can be adapted to capture new opportunities asthey arise,but accountability in delivery isemphasized.Goals that are important toindustry include boostingthe privatesector's contribution to GDP from 40% in2016 to 65% by 2030.