Industrial Sector to Shift towards Adopting Technology, Innovation -Minister of Industry Reaffirms

Minister of Industry and Mineral Resources Bandar Al-Khorayef affirmed that the trend of the industrial, in the Kingdom depends on the adoption of technology, innovation, and the provision of qualitative job opportunities for citizens of the country.

The shift falls in line with the transition to clean energy, in accordance with the objectives of the Green Saudi and Green Middle East initiatives, he explained.

Addressing the Global Summit for Industry and Manufacturing (GMIS), held in the Emirates, he indicated that the Kingdom of Saudi Arabia has demonstrated a high capacity and efficiency, in dealing with the pandemic, starting with providing human health and safety, business continuity and supporting the economy, he elaborated.

Measures taken have proven the integrity of the Kingdom’s directions, in tandem with the Vision 2030, which aspires to provide a vibrant society, a thriving economy and an ambitious nation, he stated.

What has been done since the launch of the Kingdom’s Vision 2030, in terms of regulations, legislation, and investments, in communications infrastructure, were important reason for overcoming the pandemic, he highlighted, indicating that infrastructure readiness and investment are very important matters to ensure, in dealing with growth, responding to changes, and adopting automation and existing new business models.

Modern technology and applications of the Fourth Industrial Revolution, requires such a readiness, he commented.

However, he stressed, that building human capacities is the only guarantee for business sustainability and growth, in order to achieve the requirements of societies, in the long term.

In addition, he said, to the need to reconsider aspects of education, rehabilitation and training, to ensure response to the requirements of the future business, he reasserted.

Adopting a culture that stimulates creativity, innovation, and embracing competencies and capabilities that ensure the permanent ability to adapt and build business models, that ensure sustainability and growth, is a must, he underscored.

The Kingdom has great ambitions in the development of the industrial sector, based as it is significant to the Kingdom’s Vision 2030, in terms of the important role, it plays, in diversifying the economic base and providing investment and job opportunities for the youth of the country, he remarked.

Indicating that the industrial system, in the Kingdom aims to help investors industrialists to complete their work, achieve their goals, and obtain promising opportunities for realizing growth and development, he pointed out, that will not only be in meeting local needs, but also will move towards working to increase exports, in order that the Kingdom becomes a global as well logistics platform and regional export and re-export launching pad.