Industry and Harvest Season
The Kingdom is making confident strides to strengthen the national economy, and rediscover its strengths and enhance them with more effective plans and programs that will result, God willing, to a country with a strong and growing economy based on varied economic sectors that contribute together to the Kingdom's national income, which is one of the most important objectives of Vision 2030.
Yesterday, we witnessed a new economic event, in which Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense inaugurated the National Industrial Development and Logistics Program, which aims to transform the Kingdom into a leading industrial power and a global logistics platform.
For whom it may concern, this step emphasizes that the programs of Vision 2030 and its items are afoot, according to a specific timetable that there is no room for postponing or retreating it. It aims to diversify sources of income, and develop new sectors that contribute to the Kingdom's GDP, away from oil which is proven to be fluctuating and it is erroneous to rely on it alone.
There is no doubt that His Highness the Crown Prince's keenness to launch the program and sponsor the signing of 37 various agreements worth SR 235 billion, including Saudi and international companies and bodies, including Aramco, Ma'aden and the Ministry of Energy and Customs, reflects the State's interest in the industrial sector.
Hence, we should imagine the financial return which will be made by the Kingdom through all these agreements and the strengthened logistics services in the Kingdom, by virtue of its helpful strategic location.
The magnitude of the program, and its great diversity of thought and public vision, augur well. It contains more than 330 initiatives that will achieve more than one-third of the objectives of Vision 2030.
Not just this, but projects will be put forward to negotiate through deals worth more than SR 70 billion, and the program aspires to attract investments worth SR 1.6 trillion.
The interest of the government of Custodian of the Two Holy Mosques in the industry and logistics sector is highly intelligent, especially when we know that the industrial sector alone can support by 20% of the Kingdom's GDP. This is happening today in the first world countries that have paid attention to their industrial sectors and supported them with thought, technology and talented workforce.
This is what Vision 2030 seeks, and we are sure that the Kingdom is capable of that, and it has all the financial and human means that serve this purpose, and we have to wait for the season of harvesting the fruits of these efforts, and this season will not be too late.