Saudi Arabia launches new Industrial, logistics program

Saudi Arabia has launched the National Industrial Development and Logistics Program (NIDLP), according to a statement on the official Saudi Press Agency (SPA), citing energy minister Khalid Al-Falih.

The NIDLP is expected to contribute SAR 1.2 trillion to Saudi gross domestic product (GDP), providing 1.6 million job opportunities and attracting SAR 1.6 trillion in new investments by 2030, Al-Falih said during the Future Investment Initiative (FII) currently held in Riyadh.

The new program, in line with Saudi Vision 2030, is forecast to help the development of eleven industries. It includes more than 300 initiatives, aiming to increase the share of non-oil exports to 50 percent of all Saudi exports.

The new program is based on four main pillars, namely industry, mining, energy and logistics services.