Khalil bin Salamah, Deputy Minister of Business and Mineral Sources for Industrial Affairs
Deputy Minister of Business and Mineral Sources for Industrial Affairs, Engineer Khalil bin Salamah, mentioned that the primary goal for the commercial sector by 2035 is to succeed in 36,000 factories with a home product worth of 1,400 billion riyals, which represents a bounce equal to twice what was achieved through the previous 70 years.
He defined throughout his participation within the work of the 2026 Price range Discussion board that this progress comes at a time witnessing vital modifications, most notably structural reforms, the displacement of liquid fuels and their substitute with electrical energy and fuel, the power worth reform program, and the discount of carbon emissions, along with making ready the sector for international competitiveness after 2030.
He said that the Ministry of Business labored with a number of authorities companies to formulate this system in keeping with primary rules that embody: gradual substitute of liquid fuels, neutralizing the monetary impression on the sector till an alternate is supplied, and modernizing outdated tools to boost power effectivity; With the intention of reaching a constructive impression on the patron and the citizen.
He identified that the “Industrial Sector Competitiveness Program” targets 2,400 factories by means of rapid, developmental, and enabling options, which embody decreasing carbon emissions by 22 million tons yearly by 2030, defending the baseline for present and focused factories that contribute 523 billion riyals, coaching 20,000 workers at present working within the sector, along with eradicating 130,000 barrels of equal per day from the sector, and pumping aspect investments amounting to 36 billion riyals, of which 6 billion investments obtain this system’s targets, along with Attaining an estimated authorities return of as much as 4 instances on capital investments.
He added that this system achieved excellent outcomes over the previous two years, as greater than 470 corporations joined it, representing 52% of the home product, amounting to roughly 150 billion riyals, and achieved the objective of bettering power effectivity by 30%, which contributed to decreasing the price of manufacturing and rising competitiveness.
He pressured that the ambition of the commercial sector is nice, the challenges are many, and the built-in work within the authorities system enabled the launch of the “Industrial Sector Competitiveness Program” and different applications that help industrial progress, indicating that the financial returns embody manufacturing tools inside the Kingdom and offering broad funding and job alternatives, stressing that the objective is obvious and the ambition continues to succeed in the sector’s targets.
