Saudi Arabia’s Crown Prince Mohammed bin Salman launched the Kingdom’s National Industrial Strategy, which aims to increase the industrial exports value to 557 billion riyals by 2030 ($148.34 billion), Reuters reports, citing the Saudi Press Agency.
The strategy is a plan to promote industry and attract investment in the kingdom’s economy, leading to economic diversification and growth of non-oil exports and GDP. The strategy will also increase the total additional investments in the sector to 1.3 trillion riyals ($346.21 billion), according to the SPA.
“Through the National Industrial strategy and in partnership with the private sector, the kingdom will become a leading industrial powerhouse that contributes to securing global supply chains and exports high tech products to the world,” the agency quoted Prince Mohammed as saying.
