Saudi Arabia advances its automotive sector localization, a critical component of the government’s Vision 2030 targets, as affirmed by a senior official. During a Saudi-American Business Council seminar, Aftab Ahmed, senior adviser at the Kingdom’s National Center for Industrial Development (NCID), emphasized the rapid transition toward domestic production of passenger vehicles and components.
This initiative aligns with the ambitious objectives set out in the National Industrial Strategy under Saudi Vision 2030, reported by the Saudi Press Agency.
A recent virtual seminar, hosted collaboratively by the council and NCID, convened over 100 industry leaders from Saudi Arabia and the United States to deliberate on various strategic aspects of the sector, including government initiatives, investment criteria, and operational experiences within the Kingdom.
Prominent industry leaders, including Ceer CEO James DeLuca and Lucid Motors Vice President for the Middle East, Faisal Sultan, enriched the dialogue with their perspectives on the sector’s trajectory.
Susan Lindman, Interim President and CEO of the Saudi-American Business Council, articulated the council’s enduring mission to foster collaboration and growth opportunities within the Kingdom’s automotive sector.
Lindman stated, “We at the Saudi-American Business Council are pleased to organize this event, as our mission for over 30 years has been to facilitate collaboration and growth opportunities in sectors such as the automotive industry in the Kingdom, and our role has been to connect industry leaders and stakeholders, present market opportunities, promote valuable networking, and discussions like these are fundamental in driving innovation and progress within the industry, and we are committed to supporting initiatives that enhance mutual prosperity and development.”
Highlighting the Kingdom’s broader industrial ambitions, NCID CEO Khalil Ibn Salamah at the KSA Auto Connect Forum in King Abdullah Economic City, Rabigh, articulated Saudi Arabia’s goal to emerge as a regional center for the automotive industry. He noted that the National Industrial Strategy, launched in 2022, confirms the Kingdom’s commitment to this initiative and its focus on establishing an original car brand and cultivating a new industry capable of attracting substantial domestic and international investment.
The National Industrial Strategy aims to transform the sector into a flexible, regionally integrated economic leader, targeting global leadership in select markets. Strategic focuses include strengthening supply chains, enhancing legislative and financing frameworks, amplifying the contributions of small and medium-sized enterprises, and augmenting local content.
Projected economic impacts are substantial, aiming to grow the industrial gross domestic product to $377.06 billion by 2035, generate 3.3 million jobs, and significantly enhance exports and localization rates. These measures are anticipated to radically transform Saudi Arabia’s economic landscape, fostering a culture of innovation and talent retention within this vital industrial sector.
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