Saudi Arabia’s industrial sector is getting into a brand new part of large-scale enlargement, with formidable plans to achieve 36,000 factories and ship a Gross Home Product (GDP) worth of SAR1.4tn ($373.3bn) by 2035, in response to Vice Minister of Business and Mineral Assets for Industrial Affairs Khalil bin Salma.
Talking on the Finances Discussion board 2026, he outlined the sector’s main transformations and long-term targets, noting that the brand new goal displays a doubling of achievements over the previous 70 years.
Bin Salma reviewed the Kingdom’s industrial growth trajectory, highlighting a dramatic enlargement of the economic base from 500 factories between 1970 and 1980, to 2,000 by 2000, and additional to 10,700 in 2022.
Saudi industrial progress
He added that the subsequent part of progress is unfolding amid important structural modifications, together with the shift from liquid fuels to electrical energy and gasoline, power worth reforms, emissions discount efforts and preparations to reinforce world competitiveness past 2030.
Bin Salma affirmed that the economic sector’s ambitions are excessive and its challenges appreciable. Nevertheless, he mentioned built-in authorities efforts have enabled the launch of the Industrial Sector Competitiveness Program and different initiatives aimed toward strengthening industrial enlargement.
The financial advantages embrace native manufacturing of apparatus, enhanced funding prospects and expanded employment alternatives.
He burdened that the targets are clear and the sector stays dedicated to reaching its targets.
