Saudi Arabia is advancing rapidly in developing its automotive sector, according to His Excellency Bandar Alkhorayef, Minister of Industry and Mineral Resources. Speaking at the Qatar Economic Forum in Doha, he noted the Kingdom’s ambition to become a major re-export hub for vehicles, supported by improvements in infrastructure and logistics.
His Excellency Bandar Alkhorayef also highlighted Saudi Arabia’s focus on electric vehicles and clean energy, aligning with the goals of Vision 2030. He stressed that adopting advanced manufacturing, artificial intelligence, and robotics requires a strong digital infrastructure, an area where the Kingdom has invested heavily to ensure privacy and cybersecurity.
According to His Excellency, non-oil exports have seen notable growth in 2024, with their share of GDP increasing from 16 percent to 25 percent, as reported by the Saudi Gazette. This progress is attributed to effective government policies and strong private sector involvement.
His Excellency Faisal Alibrahim, Minister of Economy and Planning, also addressed the forum, emphasizing ongoing reforms to improve the business climate and attract global investment. He described Vision 2030 as a comprehensive transformation, aimed at creating a more productive and diverse economy through institutional efficiency and strategic decision-making.
