Saudi Arabia Industry

Chapter | Industry from The Report: Saudi Arabia 2020

Industry is widely regarded as a promising area for business growth that can provide additional private sector employment for citizens in the decades...

Saudi Arabia’s decision to weaken the link between hydrocarbons and economic growth, and pursue a policy of diversification has seen a wide range of projects come to fruition in the last several years. While at present the Covid-19 pandemic and the unprecedented plunge in oil prices are causing significant short-term uncertainty, the reforms that have been put in place in recent years should stand the Kingdom in good stead over the longer term.

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COP26 has focused the world’s attention on the need for a more sustainable economic model that ensures profits and growth are not achieved at the expense of ecological health and social well-being.

How has the GCC petrochemical industry been affected by the Covid-19 pandemic?

 

In what ways are modern technologies such as artificial intelligence improving productivity within manufacturing plants and smart cities?

 

The Saudi Industrial Development Fund (SIDF) was formed in 1974 and has played a key role in supporting the Kingdom’s industrial development, providing soft loans that helped the country’s manufacturing pioneers through the hard first years in business and subsequently supported their growth. In January 2019 SIDF’s focus was realigned more...

 

Saudi Arabia is making efforts to consolidate and expand its petrochemicals industry through a series of new mergers and partnership deals. By far the biggest development in the sector was the finalisation of an agreement in March 2020 for the purchase by Saudi Aramco of a 70% stake in SABIC. The proceeds from the deal, which stand at $69bn,...

 

How can advanced technologies facilitate the development of high-value-added industries?

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