DAMMAM: Commerce and Industry Minister Abdullah Zainal Alireza on Monday highlighted the Kingdom’s SR40 billion industrial strategy, saying it would bring about a new era in the country’s industrial sector.
“I can tell you with confidence that the national industry is heading to a bright future,” Alireza said while addressing the third forum of industrialists organized by Asharqia Chamber.
He said the strategy would have a positive impact not only on the Kingdom’s industrial sector but also on other economic sectors.
He spoke about Custodian of the Two Holy Mosques King Abdullah’s vision of the national industry. The king had stated that developing the industrial sector is the Kingdom’s strategic choice to diversify revenue sources.
“We developed the new strategy based on the king’s vision,” the minister said. He said King Abdullah wanted to know every detail of the strategy’s mechanisms to ensure its success and effectiveness.
Alireza called upon the world-class industrial organizations in the Eastern Province, including Saudi Aramco and petrochemical industries, to support the strategy to make it a huge success.
“We expect the support of these organizations in implementing core programs of the strategy, especially for the development of small and medium enterprises (SMEs),” he said.
“The success of any major initiative depends first on identifying the roles of various effective parties and then on the full execution of responsibilities by those parties,” he said. The main party to this strategy is the state, not the ministry, he added.
He emphasized the government’s role in building the infrastructure required for industry, setting out the necessary rules and regulations, and creating a suitable atmosphere for the development of industries. He also underlined the private sector’s role in making the strategy a success.
Abdul Rahman Al-Rashid, chairman of Asharqia Chamber, spoke about the importance of the forum, adding that it was aimed at discussing and solving the problems facing industrialists as well as increasing the contribution of industry to the gross domestic product.
“We are happy that this meeting is being held soon after King Abdullah’s endorsement of the national industrial strategy,” Al-Rashid said, adding that the strategy included 24 programs to strengthen the sector.
Prominent businessman Salman Al-Jishi welcomed the minister’s commitment toward the implementation of the new strategy.
“I am highly impressed by the minister’s words. He believes in this strategy and is wholeheartedly backing it,” Al-Jishi told Arab News. “It’s a good augury.”
Al-Jishi, a member of the chamber’s board of directors, hoped that the government would soon allocate SR40 billion required for implementing the strategy. He also called for new railway lines to link the industrial cities.
