Saudi Arabia unveils national strategy to become leading industrial power
October 19, 2022, 7:53 am

Saudi Arabia unveils national strategy to become leading industrial power

Saudi Arabia-Mecca/Pixabay

Saudi Arabian Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud on Tuesday (Oct 18) launched the National Industry Strategy that aims to turn the kingdom into a leading industrial power, the Xinhua reported.

The Saudi Press Agency (SPA) reported, the strategy covers 12 sub-sectors, with more than 800 investment opportunities worth 1 trillion Saudi riyals (226 billion U.S. dollars).

It said that the investments will contribute to the sector's sustainable development to achieve economic revenues, including doubling the industrial GDP by three-fold and raising the industrial exports to 557 billion Saudi riyals.

Crown Prince Mohammed highlighted the kingdom's potential to reach a competitive and sustainable industrial economy, including talented youth, geographic location, natural resources and national pioneer companies.

Crown Prince Mohammed bin Salman-Saudi Arabia/Facebook

He said that, through the strategy and the partnership with the private sector, the kingdom would become a leading industrial power.

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The SPA reported, the previous years' efforts to promote the sector, including the launch of the National Industry Development Program, have increased the number of factories from 7,206 to 10,640.

It added, the strategy looks forward to increasing the number of the factories to 36,000 by 2035.

Source: xinhua

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”