Industry in Saudi Arabia

Saudi Arabia is one of the largest economies in the Middle East, and the industrial sector plays a vital role in achieving sustainable economic development. Over recent years, the industrial sector has undergone a remarkable digital transformation and continuous development, with the Saudi government engaged in strengthening infrastructure and providing support to companies and investors in pursuit of the Kingdom’s Vision 2030.

Let’s look at some of the figures and statistics showing the development of the industrial sector in Saudi Arabia, as well as see together the latest figures on the number of new factories, employment, capital and approximate areas (attached to the tables), and try to conclude the implications of this on potential investment opportunities in the areas of support and support in the service of these factories.

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1. Growth of industrial production:
In recent years, industrial production in Saudi Arabia has seen remarkable growth. According to official data, industrial production growth in the first quarter of 2023 was about 4.5% compared to the same period last year. This growth is attributable to continuous improvement in the industrial sector’s structure and stimulation of investments. Statista’s manufacturing market is expected to reach US $156 billion in 2023. An annual growth rate of 2.78% (CAGR from 2023 to 2028) is projected.

2. Investments in the industrial sector:
The Saudi government has contributed to strengthening the industrial sector by providing support and stimulus to investors. In recent years, we have seen a rise in industrial investment, with many large projects implemented in various sectors such as petrochemicals, heavy manufacturing and modern technology.

3. Digital Transformation and Industry 4.0:
Saudi Arabia strives to achieve digital transformation and adopt the concept of industry 4.0. These initiatives aim to integrate modern technology such as artificial intelligence, the Internet of things and massive analytics into industrial processes to optimize efficiency and productivity.

4. Industry Localization:
Industry resettlement policy is one of the key priorities of the Saudi government. This policy aims to increase the participation of the local workforce and develop national competencies in the industrial sector. Industry resettlement contributes to improving employment opportunities and enhancing the Kingdom’s self-sufficiency.

5. Industrial diversity:
Saudi Arabia aims to achieve industrial diversity and develop diverse industrial sectors that meet the needs of the local and international market. This diversity encompasses a wide range of sectors such as petrochemical, mineral, food, technology, medical manufacturing and many other sectors.

One of the most important supportive and supportive investments is:
– Companies supply industrial equipment, maintenance and spare parts.
– Construction companies, sandwich industries and construction materials industries.
– Industrial gas makers.
– Suppliers of firefighting equipment.
– Employment and training companies for employment, engineering and technical professions.
– ERP software companies.
– Consulting service companies.
– Marketing companies.
– Transport and logistics companies.
And so many more…