(MENAFN - Saudi Press Agency) style="font-family:Calibri">
Riyadh, January 26, 2019, SPA -- Eng. Khalid bin Abdulaziz Al-Falih, Minister of Energy, Industry and Mineral Resources, announced the launch of a program to develop the national industry and logistics services within 13 programs to achieve the vision of the Kingdom 2030. He pointed out that the program will have a great economic impact and will achieve unprecedented growth and integration among four major sectors of the Kingdom's economy in the sectors of manufacturing, mining, energy and logistics.
This came during a press conference held today with the participation of Dr. Nabil bin Mohammed Al Amoudi, the Minister of Transport, and Undersecretary of the Ministry of Energy, Industry and Mineral Resources for Corporate Affairs and Chief Executive Officer of the program Dr. Abid Al Saadoun to highlight the launch of the National Industrial Development and Logistics Program.
Engineer Al-Falih stressed that the basic rule for the success of any industrial and export country is the logistics sector, including roads, railways, ports, airports, free economic zones and intelligent logistics networks. These sectors are able to integrate and connect internally and externally with the economies of the world, he said.
He pointed out that one of the most important moves that will be made by the vision of the Kingdom is to diversify the economy by moving the Saudi economy from an oil-dependent economy as an essential element of government income, exports and foreign currency to a diversified economy that relies heavily on a variety of non-oil exports.
He said that innovation and scientific research will be key elements of the Kingdom's economy and that each sector of the economy will be independent and separate from other sectors.
The Minister of Energy, Industry and Mineral Resources said that the program of developing the national industry and logistics has more than 330 initiatives and will achieve more than one third of the objectives of the vision of the Kingdom 2030. Ready projects will be introduced for negotiations through deals worth more than 70 billion riyals and this is the first batch of investments. He stated that the program aspires to attract trillion and 600 billion riyals of investments.
Al-Faleh discussed the Saudi Aramco's principle of "sufficiency", in which the Kingdom has established dozens of factories, and has been exporting with very competitiveness to energy sectors in neighboring countries. It has also become a competitive value for Aramco.
23:32 LOCAL TIME 20:32 GMT