List of the Most Promising Industries in the Kingdom
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The Kingdom of Saudi Arabia aims, through Saudi Vision 2030, to develop the industrial sector as a cornerstone of the Saudi economy, with the goal of contributing to the increase of macroeconomic indicators. This is achieved by expanding the oil and gas-related industry, localizing promising industries, and improving infrastructure quality.
Promising industrial sectors:
- Machinery and equipment: By localizing value chains, increasing export rates, and establishing competitive national companies.
- Automotive: By supporting local manufacturers and attracting global manufacturers.
- Pharmaceuticals: By localizing 40 percent of the value of local production and supporting the development of the most successful products.
- Medical devices and supplies: By supporting local industry, stimulating pharmaceutical security, and increasing localization to 15 percent.
- Food: By facilitating the connection of manufacturers with supply chains, meeting 85 percent of local demand, supporting food security, investing in and sustaining natural resources, and localizing the industry.
- Aquaculture: By increasing local production, investing in and sustaining natural resources, increasing private sector investments, and localizing jobs.
- Aviation: By enhancing the field of routine maintenance for civil and military aircraft, engine maintenance, and developing capabilities in the manufacturing of raw materials.
- Maritime: By establishing a sustainable local and regional industry, leveraging production from other industries, and meeting market demand.
- Renewable energy sources: By localizing value chains, increasing export rates, and achieving global leadership.
- Basic and intermediate chemicals: By maintaining the Kingdom's position in basic chemicals, fostering growth in the intermediate chemicals industry, and localizing additional products in the value chain.
- Specialty chemicals: By developing and localizing production, and reducing imports.
- Plastics and rubber: By developing high-quality products with increased production, and enhancing other strategic industries.
- Military: By localizing half of the spending rate on military and security equipment, organizations, and maintenance and repair services.
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