Deputy Minister of Industry, Aramco Officials Review National Industrial Strategy
Eng. Khalil bin Salamah, the Deputy Minister of Industry and Mineral Resources for Industrial Affairs, engaged in crucial talks with Saudi Aramco officials about the National Industrial Strategy. The meeting took place at Aramco’s headquarters in Dhahran. It aimed at exploring avenues to deepen cooperation between the ministry and the oil giant. This collaboration is crucial for achieving the National Industrial Strategy’s goals, in line with Saudi Vision 2030.
Vision for National Industrial Strategy
The National Industrial Strategy represents a keystone in Saudi Arabia’s comprehensive plan to diversify its economy beyond oil. This strategy seeks to transform KSA into an attractive destination for industrial investment. Consequently, it aims to foster economic diversification and enhance the gross domestic product (GDP) and non-oil exports. The discussions between Salamah and Aramco officials underscored the critical role of the industrial sector in achieving these objectives. By leveraging Aramco’s resources and expertise, the partnership aims to create a robust framework for industrial growth and innovation.
Empowering the Private Sector and Ensuring Economic Continuity
A focal point of the strategy discussed is the empowerment of the private sector, which is deemed essential for the sustainability and flexibility of the industrial sector. Moreover, the meeting highlighted the importance of creating an environment conducive to private sector participation. This includes measures to enhance industrial flexibility, ensuring uninterrupted economic activities and access to critical goods for citizens.
Regional Integration & Technological Innovation in National Industrial Strategy
Another crucial aspect of the National Industrial Strategy is the emphasis on regional industrial integration. Additionally, it highlights the exploitation of the Saudi economy’s strengths to achieve global leadership in selected commodities. The talks aimed at identifying strategic investments in promising new technologies that would position Saudi Arabia as a global industrial leader. The synergy between the Ministry of Industry and Saudi Aramco is expected to drive forward these initiatives, fostering an industrial ecosystem that is innovative, resilient, and competitive on the world stage.
This meeting between Eng. Khalil bin Salamah and Aramco officials marks a significant milestone in Saudi Arabia’s journey towards industrial and economic diversification. By aligning the goals of the National Industrial Strategy with the expertise and capabilities of Saudi Aramco, KSA is setting a strong foundation. It also envisions a future where its economy thrives beyond oil, ensuring prosperity and stability for its citizens.
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