The Deputy Minister of Industry and Mineral Resources for Industry Affairs in Saudi Arabia, Khalil bin Salamah, said that the competitiveness program in the industrial sector launched by the ministry depends mainly on studying the competitiveness of various industries in the Kingdom.

He stressed that the ministry supports all factories to shift to energy efficiency, through several important solutions. There is immediate financial support for factories to shift to optimal fuel, as well as soft loans, in addition to advisory services for sustainable energy transformation and export competitiveness.

He explained in an interview with “Al Arabiya Business” that after the launch of “Vision 2030” and the adoption of the National Industrial Strategy, 12 different projects were launched, including 180 groups of different strategic goods, which led the ministry to delve into analyzing the competitiveness of these sectors, their effectiveness within the Kingdom, and their ability to compete globally.

Aramco MarketsAramco’s Secondary Offering Covered in Full Within Hours.. Raising $12 Billion

Expectations of High Demand for Aramco’s Secondary Offering

He continued: These sectors include the automotive industry, military industries, pharmaceuticals, specialty chemicals, building materials, and others.

Bin Salamah pointed out that it was necessary to design programs to examine the competitiveness of exports, and one of the first of these programs was a program launched at the beginning of this year, which is dedicated to energy consumption in the industrial sector, due to its importance in supporting the competitiveness of the sector. The program includes providing the optimal fuel for each industrial sector, as well as pumping huge investments in the coming years.

It is noteworthy that the Ministry of Industry and Mineral Resources in the Kingdom launched, during the past period, a competitiveness program in the industrial sector that provides a set of solutions to contribute to encouraging sustainable transformation in the sector.

The program enhances the sustainability of industry inputs and enables the industrial sector to obtain the necessary capabilities to improve production costs.

The ministry explained that the program contributes to achieving goals that include the growth of the industrial GDP baseline until 2035, reducing carbon emissions, optimal use of energy sources, and operational improvement of production inputs. The program also aims to find investment opportunities in energy efficiency improvement projects, and develop human competencies and competencies in the industrial sector, in relation to the application of energy efficiency and management systems.