Oxford Business Group report tracks progress of Saudi economic development

The Oxford Business Group, in partnership with National Industrial Development and Logistics Program, recently issued a report which indicated NIDLP continues efforts to achieve the Kingdom’s goals aimed at stimulating innovation, investment and growth in four main sectors.

The report, titled “Driving Saudi Arabia Onwards and Upwards,” tracks the progress made in energy, mining, industry, and logistics while analyzing the contribution of those sectors in achieving the main goals of Saudi Vision 2030, which is the Kingdom’s plan for the social and economic transformation.

NIDLP activities were launched at the beginning of 2019, out of the Saudi leadership’s belief in the importance of the program’s four sectors (energy, mining, industry, and logistics services) and their integration to achieve added value, maximize and diversify the economic impact, and create an attractive investment environment.

The decision to prioritize the expansion of local content is another focal point, with coverage provided on how Saudi Arabia is leveraging its purchasing power to promote domestic manufacturing and strengthen local value chains.

The program also focuses on improving the trade balance, creating a local industry that competes in global markets, creating sustainable competitive advantages based on innovation, stimulating investments and creating job opportunities, progressing towards achieving the optimal energy mix, and increasing the Kingdom’s logistical connectivity locally and globally.

NIDLP worked to increase the competitiveness and productivity of the four sectors and maximize their economic impact, by taking advantage of technologies as well as natural resources and human capital in the Kingdom of Saudi Arabia.