Every Saudi industrial sector job leads to 5-10 more in other industries: Official

Logo of Ministry of Industry and Mineral Resources

Undersecretary for Industrial Development at the Ministry of Industry and Mineral Resources, AlBadr Foudeh, said that every job in the Saudi industrial sector creates from five-10 jobs in other sectors, as job creation is linked to increased industrial investments.

The number of employees in the industrial sector should more than double from one million in the coming period, when the National Industrial Strategy (NIS) is put into effect, Foudeh told Al-Ekhbariya TV.

The laws and regulations enacted by the Kingdom helped attract investments. There is a significant improvement in government measures, with respect to investor journey, the steps taken to start an industrial business and the offered incentives.

Following the NIS launch, the industrial sector’s contribution to gross domestic product (GDP) will rise to SAR 895 billion by 2030 from SAR 331 billion in 2020, while human capacities will be enabled in the sector.

In October, Crown Prince Mohammed bin Salman launched the NIS, after it was approved by the Saudi Cabinet, Argaam earlier reported.

The strategy aims to reach an industrial economy that would attract more investments, to help diversify economy, as well as boost the GDP and non-oil exports, in line with Saudi Vision 2030 goals.