Riyadh: Vice Minister of Industry and Mineral Resources for Industrial Affairs Khalil bin Salma has reviewed the sector’s key targets and the major transformations achieved over the past few decades. He noted the expansion of the Kingdom’s industrial base from 500 factories between 1970 and 1980 to 2,000 by 2000, and to 10,700 in 2022. He emphasized that the deepening of downstream industries has been central to this progress.
According to Saudi Press Agency, speaking at the Budget Forum 2026, he said the sector aims to reach 36,000 factories by 2035, contributing a Gross Domestic Product (GDP) value of SAR1,400 billion. This target reflects a doubling of achievements over the past 70 years. He added that this growth is taking place amid significant structural changes, including the shift from liquid fuels to electricity and gas, energy price reforms, emissions reduction efforts, and preparations to enhance global competitiveness beyond 2030.
Bin Salma affirmed that the industrial sector’s ambitions are high and its challenges considerable. However, integrated government efforts have enabled the launch of the Industrial Sector Competitiveness Program and other initiatives supporting industrial expansion. He noted that the economic benefits include local manufacturing of equipment, enhanced investment prospects, and expanded employment opportunities, stressing that the goals are clear and the sector remains committed to achieving its targets.