Saudi Arabia aims to raise industrial sector's contribution to GDP to SAR 900 bln: AlKhorayef

Bandar AlKhorayef, Minister of Industry and Mineral Resources

Saudi Arabia seeks to raise the industrial sector's contribution to GDP to SAR 900 billion, Al Arabiya TV reported, citing Bandar AlKhorayef, Minister of Industry and Mineral Resources. 

If Saudi Arabia could link its mining resources in the petrochemical sector to intermediate and end products, it would be a true partner in global trade and supply chains, the minister said. 

He added that Saudi Arabia seeks to maximize added value and utilize its natural resources, noting that the Kingdom has a vision for promising sectors that brings them to the same level as in other countries. This includes a mix of end products in sectors needed by the Kingdom, such as water desalination. 

The National Industrial Strategy focuses on quality and projects needed by the Kingdom, which are related to renewable energy and water desalination, in addition to the petrochemical and mining sectors. 

The Kingdom is a key player in the mining sector’s supply chain through aluminum and will continue to develop this sector to introduce more complex products, such as aircraft structures and the related spare parts, AlKhorayef said. 

Crown Prince Mohammed bin Salman launched, on Oct. 18, the National Industrial Strategy, after it was approved by the Saudi Cabinet.