KSA Machinery & Equipment's vision is to “Build a vibrant industrial equipment and machinery cluster focused on traditional product categories that are regionally competitive as well as to develop globally competitive national champions in key emerging technologies” to increase contribution to the local value addition (i.e., GDP) and job opportunities in the Kingdom.
To accelerate the development of the Machinery & Equipment cluster, the kingdoms seeks to leverage its sophisticated demand and concentrated buying power among its major state owned enterprises, coupled with strategic investments that leverage its patient capital in future technologies.
To achieve these objectives, the Machinery and Equipment cluster at IC is working on 2 key dimensions:
- Supporting existing local manufacturers in making their businesses more sustainable and helping them expand their capacity and grow their revenues
- Supporting foreign investors in establishing a manufacturing base in Saudi by designing customized value proposition in coordination with the other govt. entities
Further, the senior leadership of the Industrial Clusters (Ministry of Industries and Mineral resources) is leading several KSA wide committees to enable stakeholder collaboration and achieve results such as:
- Industrial Equipment and Mining Sector Committee for industrial investment promotion as part of the NIPC (National Investment Promotion Committee).
- Industrial Council to resolve investor challenges and streamline existing ecosystem.
