Latest news with #FutureFactoriesProgram
Leaders
3 days ago
- Business
- Leaders
Saudi-Omani Ministers Launch Second Phase of Industrial Integration
Minister of Industry and Mineral Resources Bandar Alkhorayef and Omani Minister of Commerce, Industry, and Investment Promotion Qais bin Mohammed Al Yousef have officially launched the second phase of industrial integration between Saudi Arabia and Oman. The announcement was made during a joint meeting held at the Ministry's headquarters in Riyadh. This new phase aims to strengthen direct trade, enhance value chain integration, and attract high-quality industrial investments. Key goals also include recognizing local products from both countries as national products in government procurement processes and streamlining procedures for exporters and investors. During the meeting, participants reviewed the accomplishments of the first phase, which featured several strategic initiatives. Among them was the Future Factories Program, designed to shift factories from labor-intensive operations to advanced industrial technologies, thereby improving supply chain integration. Officials from both nations also explored opportunities to share knowledge across industrial sectors, collaborate on national strategies, and exchange industrial data. Related Topics: Saudi Arabia, Austria Explore Industrial Innovation, Training Cooperation Saudi Foreign Minister Arrives in Omani capital Muscat Crown Prince Receives Letter from Sultan of Oman Omani Economic Free Zones Reviews Investment Opportunities for Saudi Investors Short link : Post Views: 6 Related Stories
Zawya
20-06-2025
- Business
- Zawya
Saudi: Industrial cities in Qassim operate at 77% capacity
BURAIDAH — Deputy Minister of Industry and Mineral Resources for Industry Affairs Eng. Khalil bin Salamah has revealed that industrial cities in Qassim operate at 77% capacity, which is a healthy rate and evidence of the existence of a stimulating environment. There are a total of 158 factories in Qassim's industrial cities. The value of industrial investments in the region during the first quarter of 2025 amounts to SR700 million, with Buraidah owning the largest share. Bin Salamah made the remarks during a meeting organized by Qassim Chamber of Commerce, which brought together investors in the region's industrial sector to highlight key ministerial services and programs and discuss the sector's aspirations for continued development and investment growth. The meeting was held at the chamber's headquarters in Buraidah. The meeting addressed a number of topics related to the industrial sector, including standard incentives for the sector, which enhance the competitiveness and sustainability of the industrial sector in Saudi Arabia. The meeting also discussed the environment of industrial facilities and presented solutions to help raise efficiency and quality. It also included a review of the Future Factories Program, an introduction to it, and the process of converting these factories to adopt modern manufacturing practices, automation, and digitalization, which directly contributes to the development of the industrial sector in Saudi Arabia in general. The meeting also included a review of the "Industry Links" program of the General Administration of Localization and Local Content, which connects manufacturers with major projects to achieve the goals of the national strategy for increasing local content. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Saudi Gazette
19-06-2025
- Business
- Saudi Gazette
Industrial cities in Qassim operate at 77% capacity
Saudi Gazette report BURAIDAH — Deputy Minister of Industry and Mineral Resources for Industry Affairs Eng. Khalil bin Salamah has revealed that industrial cities in Qassim operate at 77% capacity, which is a healthy rate and evidence of the existence of a stimulating environment. There are a total of 158 factories in Qassim's industrial cities. The value of industrial investments in the region during the first quarter of 2025 amounts to SR700 million, with Buraidah owning the largest share. Bin Salamah made the remarks during a meeting organized by Qassim Chamber of Commerce, which brought together investors in the region's industrial sector to highlight key ministerial services and programs and discuss the sector's aspirations for continued development and investment growth. The meeting was held at the chamber's headquarters in Buraidah. The meeting addressed a number of topics related to the industrial sector, including standard incentives for the sector, which enhance the competitiveness and sustainability of the industrial sector in Saudi Arabia. The meeting also discussed the environment of industrial facilities and presented solutions to help raise efficiency and quality. It also included a review of the Future Factories Program, an introduction to it, and the process of converting these factories to adopt modern manufacturing practices, automation, and digitalization, which directly contributes to the development of the industrial sector in Saudi Arabia in meeting also included a review of the "Industry Links" program of the General Administration of Localization and Local Content, which connects manufacturers with major projects to achieve the goals of the national strategy for increasing local content.
Arab News
13-04-2025
- Business
- Arab News
Saudi Arabia continues to leverage AI to propel mining sector, says Alkhorayef
RIYADH: Saudi Arabia is investing in artificial intelligence to drive growth in the mining sector, according to the Kingdom's minister of industry and mineral resources. Speaking in a fireside chat titled 'Human Potential – The Critical Foundation of Industrial Transformation' on the first day of the Human Capability Initiative 2025 taking place in Riyadh on April 13-14, Bandar Alkhorayef explained that this focus is significant given that mining is often viewed as a traditional industry where innovation has lagged. This falls in line with Saudi Arabia's goal to increase the mining industry's gross domestic product contribution from $17 billion to $75 billion by 2035. It also aligns well with the nation's efforts to establish mining as the third pillar of its industrial economy. During the session, Alkhorayef said: 'When we launched our Future Mineral Form three years ago, actually in this center, we had a small zone that we called tech zone where we invited different innovators from around the world to showcase some of their ideas. It was amazing to see how small ideas can actually be accommodated in the mining sector from up to upstream in mines, for example, where we can see more safer mines, more productive and more energy efficient mines, and so on.' He added: 'So, in industry, it's the same thing. We believe that Saudi Arabia has a great advantage in terms of our energy efficiency. Also, AI needs a lot of energy, as you can imagine, and we are spending a lot of money to create the infrastructure to build AI, to build data centers, to allow also the investors to come at the same time.' The minister went on to highlight significant regulatory efforts — from cybersecurity to broader frameworks — that enable artificial intelligence to operate safely and under strong governance. 'We have a program that we launched two years ago in the ministry called the Future Factories Program where we incentivize industry investors to tap into new technologies, robotics, or AI,' Alkhorayef said. He added: 'When we look at the industry and mining coupled with the human capital development program, the RDI, the Research, Development and Innovation Program, it creates an ecosystem where talent-based human capital is developed, where we are creating opportunities for the young in the form of jobs but also creating opportunities in the form of actual investment or building the next interpreters.' Regarding the Human Capital Development Program, the minister emphasized that it is a key national asset. He noted that the ministry is working to ensure strong coordination between the program and the industrial and mining sectors, as it addresses the broader needs of the nation. 'Today's world is moving so fast, and it is very hard for sectors on their own to be responsible for the agility in a cost-cutting element of the economy, which is education and training and skilling and reskilling. So, I think that it's a great asset for us because it allows us to focus on our own plans where we are at the same time very confident that there is a great effort with great coordination for the sector to have the right talent in place for us to achieve our targets,' Alkhorayef said. The two-day event unites government entities, the private sector, and nonprofit organizations to foster collaboration and drive innovation. Organized by the Human Capability Development Program — a part of the Vision 2030 realization initiatives — in partnership with the Ministry of Education, the conference is expected to explore breakthrough learning models and strategies for future workforce readiness. HCI 2025 will host over 100-panel discussions across four main stages, focusing on key future trends in developing human potential. It will explore innovative methods to empower individuals and communities while fostering stronger public-private sector collaboration to create sustainable and impactful solutions for the future.
