$19.73bln Saudi SNCID projects to generate 34,000 jobs

JEDDAH — The Saudi National Center for Industrial Development (SNCID) has initiated a plan to launch over 60 industrial projects in the near future. Almost 33 percent of the proposed projects have either been completed or are under process. These projects are worth SR20 billion and will provide some 7,000 direct jobs.

“Work is currently underway to complete the proposed industrial projects with total investments worth about SR74 billion. These projects will generate over 34,000 direct jobs. They will also set up partnerships with more than 20 local and international companies with the aim to develop investment opportunities and empowerment and localization of important industries in the Kingdom,” Al-Eqtisadiyah newspaper quoted Nizar Hariri, CEO of the SNCID as saying.

Hariri explained that the center, earlier named the National Industrial Clusters Development Program, is carrying out many tasks and at all levels. It has many projects, some are completed while others are underway. All projects are expected to be completed in the near future.

“Among these projects is on mineral products, the expansion of the center’s mining activities, food processing industry, and manufacturing equipment, medical protection supplies, and biological medicines and vaccines. Under the guidance of the ministry of industry and mineral resources, efforts are on to accelerate the introduction of important and pivotal technology to the Kingdom and the region. Additionally, the SNCID is developing new processing industries with added value that support the Kingdom's Vision 2030,” Hariri added.

He further said that there will be a focus on multiple efforts to develop promising and advanced industries, such as automobiles, airplanes and ships, and electrical machinery and equipment related to basic industries and water desalination. They will be linked with artificial intelligence to provide the feedstock locally and internationally and come up with products that can compete globally.


Source: https://www.zawya.com/mena/en/economy/story/1973bln_Saudi_SNCID_projects_to_generate_34000_jobs-SNG_183978636/


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