Factory Sector Sees Growth Since Vision 2030 Launch: Saudi Deputy Minister

The number of factories in Saudi Arabia has increased 50% since the launch of Vision 2030 in 2016, according to the Deputy Minister of Industry and Mineral resources Osama bin Abdulaziz Al-Zamil. His comments come after figures released last year showed there are now more than 10,000 industrial facilities in the Kingdom, with 1,023 factories starting operations in 2022 alone. Speaking during the first day of the annual Saudi Industrial Renaissance Forum that took place in the Kingdom’s Al-Yamamah University, Al-Zamil affirmed reliance on the industrial and mining sectors as economic tributaries.

The deputy minister also use his speech at the event to praise the growing Saudi workforce, saying: “The bet today on our young men and women is a big and winning bet as they are the largest percentage in this country, which makes them the basic base for our transformation and change in all fields and their exceptional capabilities and permanent ambition for positive change constitute a great force for the success of the Kingdom’s vision programs and contribute to the development of the homeland.”

The Saudi Industrial Renaissance Forum focused on the vital role that the industry plays in developing and diversifying the national economy which also contributes to achieving the economic and social goals of the Kingdom’s Vision 2030. “The forum brings together a group of speakers, experts and interested persons with specialization in lectures, discussion sessions, working papers sessions and refereed research papers on many topics, and witnesses a number of important sessions,” said Hussam bin Muhammad Ramadan, Al-Yamamah University president and chairman of the organizing committee.