By: Sara A. Al-Muaithir
The Ministry of Industry and Mineral Resources has launched the Made in Saudi Arabia program. This is one of the starting points of Vision 2030, the landmark public policy of the Kingdom of Saudi Arabia. This program will directly contribute to the development and localization of a variety of industries in the country and drive greater self-sufficiency in various commodities.
This program is distinguished by the extent of detailed analysis, engagement with stakeholders, absorbing lessons about market and consumer behavior, understanding the needs of national businesses, and incorporating the best practices and experiences of other countries and shaping them to meet the needs of the Saudi market.
The program aims to contribute to the diversification of the market economy and help change perceptions of it as a purely oil economy. The program drives greater industrialization in our domestic economy ensuring that a greater proportion of the products we consume are made by us. This will reduce our carbon footprint, grow our resource base, enhance employment, and drive innovation and standards, therefore allowing us also to benchmark our economy to the strongest economies in the world. It also redirects national spending power to our own entrepreneurs, innovators, manufactures, and other actors in the economy, therefore making sure that our country keeps more of its wealth instead of it migrating to the outside world. In technical terms, it also means an improved Balance of Payments and higher GDP for the Kingdom.
This comprehensive, relevant, adaptable, and forward looking program will support the Saudi labor market with many job opportunities for its children. Future generations are central to this promising transformative program. It is our young who will grow into the entrepreneurs and innovators that will contribute to the domestic manufacture of products in line with international standards of quality and excellence.
The above will also, importantly, create even more pride among our people as they see Made in Saudi Arabia marked on the packaging, products, branding, advertising and marketing of a diversity of products both here in the Kingdom but also, eventually in overseas markets. This will change perceptions of what our people and country can achieve and are achieving and make plain our place in the modern world. This will also drive international confidence in what our manufacturing base and people can achieve. This will translate into greater foreign direct investment into the country
As Saudis, we recognise the greatness in our people, our country, our heritage, and culture. Now it is time for us to take greater ownership over our economic destiny and that is what this program will contribute to. It tells the outside world, but, more importantly, ourselves, that we have an ambitious vision for our nation. The Made in Saudi Arabia will play a vital role in this and, every time we see this on a product, will reaffirm that our economy, like our people, are diverse, creative, and valuable.