"With one of the fastest-growing manufacturing industries globally, Saudi Arabia is poised to reach a 3,5% increase in the Industrial Production Index compared to the previous year. The increase was due to Saudi's higher non-oil manufacturing activities as the kingdom gradually positions itself to diversify the economy towards more sustainable industries.
The kingdom is on its path to becoming the region's industrial powerhouse for transportation and logistics solutions, requiring other adjacent sectors such as manufacturing to enjoy the buoyant growth stemming from Vision 30's strategic gameplay. As a result, the Ministry of Industry and Mineral Resources has mandated government agencies to remit the Saudi Industrial Development Fund in 2019 to enable massive industrial development and push the pace of manufacturing growth.
2021 has seen a steady recovery in Saudi Arabia's manufacturing and industrial output, slowly regaining its strength to catch up with the overdue goals previously postponed during the pandemic.
Market Research Saudi Arabia guides clients through advisory services in various segments, including logistics and supply chain, manufacturing, and processing, industrial power and energy, machinery aftermarket, and industry 4.0. Our consulting team has a deep market understanding to help clients achieve steady growth."
