Nsd En · Page 11
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The Kingdom’s Vision 2030 presents an ambitious and transformative roadmap leveraging the Kingdom’s strengths. It has built a foundation to drive unprecedented reforms in the public sector’s operating model, the economy, and society as a whole. This has laid the foundation for future success. The Kingdom of Saudi Arabia is proceeding with confident and steady steps on its path to development at all economic and social levels, thus contributing to achieving the goals of the Kingdom’s Vision 2030. Giga projects - such as NEOM city (The Line), the Red Sea, and Saudi Green Initiative - will help through the demand it will create for goods and services. This will provide an opportunity to advance the Kingdom’s industry, by building local manufacturing capabilities, and attracting modern industrial technologies. Proceeding from the main pillars of the Kingdom’s Vision 2030 (a vibrant socie- ty, a thriving economy, and an ambitious nation), it has become important to develop theNational Industrial Strategy. 2016 Launching the Kingdom's Vision 2030 Establishment of Entities Mandate Enhancements Mandate enhancement of reference of the economic cities authority to become the Economic Cities and Special Zones Authority Modernize the scop of Saudi Industrial Development Fund and increasing the capital from 65 B SAR to 105 B SAR Transferring the industrial cluster program into the National Industrial Development Center Establishment of the Ministry of Industry and Mineral Resources Establishment of the Ministry of Energy Establishment of the Ministry of Investment Establishment of Saudi EXIM Bank Launching the National Industrial Development and Logistics Program Launching Oil Sustainability Program Establishment of the General Authority for Military Industries Establishment of the General Authority for Foreign Trade Establishment of the Local Content and Government. Procurement Authority The executing entities contribute in the Industrial ecosystem by supporting the industrial development journey and achieving the objectives of the Kingdom’s Vision 2030 executing entity Contribution The Ministry of Industry and Mineral Resources is responsible for regulating and licensing industry and mining. It aims to advance the industrial and mining sectors, and contribute to achieving sus- tainable development, in line with the Kingdom’s Vision 2030, which adopted these two sectors as strategic options to diversify the national econo- my, and raise their contribution to the GDP. MODON has been mandated to develop industri- al lands and integrated infrastructure. Today, 36 existing and under development industrial cities are under its supervision across the Kingdom. In addition, it supervises private industrial complex- es and cities. Immediately after its establishment, the Royal Commission for Jubail and Yanbu embarked on a journey of challenge and achievement in ac- cordance with an ambitious vision to be the best choice for investors in the petrochemical, mining and energy-intensive industries and the main contributor to growth in the Kingdom. Saudi Industrial Development Fund was estab- lished to play a leading role for 45 years in devel- oping, implementing and achieving industrial de- velopment policies and programs, being the main financial enabler for industrial transformation in the Kingdom. It aims to develop various non-oil exports by sup- porting exporters to raise their competitiveness an
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