Targeting 300 thousand cars per year industry in the Kingdom by 2030 – Saudi Minister of Industry
Ashraf AboArafe
The Minister of Industry and Mineral Resources, Chairman of the Fund Saudi Industrial Development Bandar bin Ibrahim confirmed that the auto industry file in the Kingdom is one of the files task taken into consideration the national strategy for the industry, because it is complex industries that contribute to the development of supply chains for many products, indicating targeting more than 300 thousand cars per year industry in the Kingdom by 2030.
He explained the fall during a ceremony to lay the foundation stone for the plant and filling company in King Abdullah Economic City in Rabigh, the Kingdom aimed at the automotive industry; To cover domestic demand and export worldwide, stressing that spending on car size in the Kingdom during the year 2020 reached almost 40 billion riyals, while the Saudi market exceeds more than half a million cars a year, which represents 50% of the Gulf market, noting that the Development Fund Saudi Industrial provided funding for the establishment of a factory to fill up to the value of more than 5 billion riyals.
He pointed out that the establishment of a new manufacturing center for the company to fill in the Kingdom of Saudi Arabia is in line with the directions of the Kingdom aimed at diversifying the economic base, especially the development of the industrial sector as part of the Kingdom’s Vision 2030 program to develop national industry and logistics services, considering enabling the industry’s new in the Kingdom will contribute in the development of value-added chains to her and other industries that intersect with, Ktsnaa batteries and services, and the development of value chains associated with them.
The minister stressed that the choice to fill the Kingdom as the headquarters for the first plants in the Middle East, which aims to export more than 85% of its production, confirms the competitive Kingdom and its ability to exploit a number of possibilities enjoyed by, including: geographical location, and the ability to link with many regional markets and global, and access to it, as well as good infrastructure, quality of services, adding: “We look forward to working with the company and other leading companies, and at the same time we continue to build our international expertise”, depending on the quality of the advantages enjoyed by the Kingdom of Saudi Arabia, ranging from capacity quality in the industrial sector, infrastructure ideal for many industries, and the availability of mineral resources, in addition to the presence of qualified human cadres.
