Saudi Arabia seeks to boost private sector partnerships, employment: minister

Bandar Alkhorayef, Minister of Industry and Mineral Resources

Saudi Arabia seeks to bolster partnership with the private sector through the ‘Made in Saudi’ initiative, in line with Vision 2030, Saudi Press Agency reported, citing Minister of Industry and Mineral Resources Bandar Alkhorayef.

The industrial sector seeks to eliminate the obstacles facing the private sector partners, including financial overheads, and boost the efficiency of the logistics services. It further aims to increase exports, while capitalizing on the Kingdom’s industrial as well as logistics infrastructure.

The program will contribute towards creating jobs, enhancing the ability to export, improving the balance of payments and broadening the Kingdom's economic base in general, the minister said.

‘Made in Saudi’ program aims to enhance the culture of loyalty to national products, and to make the Kingdom a leading industrial power through creating a unified identity to market national goods and products to become a competitive option both locally and internationally, and contribute to achieving economic diversification and increasing the gross domestic product (GDP).

On March 28, the Ministry of Industry and Mineral Resources launched ‘Made in Saudi’ program, according to data compiled by Argaam.