Over 1,321 Factories Investing, in Plastics’ Products Industry

Inaugurating the International Polymer and Plastics’ Manufacturers Forum-cum- Exhibition 2022, at the Riyadh International Convention and Exhibition Center, the Deputy Minister of Industry and Mineral Resources, Eng. Osama Al-Zamil announced that as much as 1,321 factories are investing, in Plastics’ Products Industry, with SR35 billion valuation, in the Kingdom.

The ceremony has taken place, in the presence of a host of experts, specialists, and an elite of companies specialized, in this field.

In his speech, the Deputy Minister of Industry stated that the forum has a great significance, in enhancing the Kingdom’s industrial status, at the local and global levels, and establishes the bolstering and development of industrial thought, in the sectors specialized in the manufacture of plastics and rubber materials, and the associated manufacturing industries, as it enhances the competitiveness of national products.

The forum is an important opportunity to add a new momentum to the industrial sector, in the Kingdom, through the optimal employment of the plastics materials industry and its related and associated manufacturing industries, which have become the forefront of the current industries, given their many uses in other promising industries such as food, cars, marine industries and medical supplies, in addition to other uses, in everyday life, he pointed out.

Noting that the investment in plastic materials contributes to raising the productivity and the desired intensity of the manufacturing process, due to the ease of recycling, which reduces environmental pollution, the minister added that in addition to reducing the cost of production, indicating that the number of factories operating, in this activity in the Kingdom has reached more than 1321 factories, with investments estimated, at more than SR35 billion, constituting 2.62% of the total volume of investments, in the industrial sector, in the Kingdom.

The Kingdom has great ambitions, in the development of the industrial sector, based on its significance, in the Kingdom’s Vision 2030, in terms of the crucial role in diversifying the economic base and creating investment and job opportunities for the sons and daughters of the country, Al-Zamil stressed, indicating that the industry system all sectors work, by helping industrial investors to complete their work, achieving their goals and obtaining promising opportunities for growth and development, not only in meeting the local need, but also working to increase exports, to make the Kingdom a global logistics platform.