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Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef confirmed the existence of numerous industries that are likely to grow in the coming period, especially given the existence of an industrial strategy focused on twelve sectors.
Al-Kharif, in an interview with Al-Sharq on the sidelines of the World Economic Forum in Davos, pointed out that after announcing the localization of the insulin industry, Saudi Arabia is focusing on the pharmaceutical industry and is also working to localize the vaccine industry and the industries that support it surround.
He added that the ministry is also focusing on growth-relevant sectors such as petrochemicals, oil and gas and mining. The ministry has programs to support these sectors and is working with large companies such as Aramco and SABIC to create supply chains that support companies operating in these sectors and their expansion plans. .
He noted that the ministry is working to establish clusters for some of these industries, as was the case in the automotive sector, in order to attract numerous companies operating in these areas.
Saudi Arabia has been trying to build an integrated system for the automotive industry for some time. After the first phase of the construction of three automobile factories, the country announced at the end of last year the start of the second phase with the signing of an agreement with “Pirelli” “to build a tire production plant with the aim of “involving the industries related to the automotive industry”. Cars such as tires, glass and plastic are shipped to Saudi Arabia,” according to earlier statements to Al Sharq by Mohammed Al Shiha, director of the vehicle and mobility sector at the Saudi Public Investment Fund.
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