The Kingdom’s vision for the Machinery & Equipment industry is to “Build a vibrant industrial equipment and machinery sector 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.
M&E’s Vision is to achieve ~50% localization across Machinery & Equipment products and new technologies by 2030. For M&E ecosystem, a set of policies, initiatives, and recommendations were developed to enable further localization.
The M&E sector plays a substantial role in the industrial development and is the backbone of the industry. To accelerate the development of the Machinery & Equipment Sector, the Kingdom seeks to leverage its sophisticated demand and concentrated buying power amongst its major state-owned enterprises, its metals production and capabilities, coupled with strategic investments in future technologies. In addition, the ambitious mega- and giga- projects are expected to bring significant demand for Machinery & Equipment products.
50 M&E tier 1, 2, and 3 investment opportunities have been developed, supported with pre-feasibility studies, financial models, and marketing materials to support investors and uploaded in invest Saudi website. These opportunities fall under seven different categories/sub-sectors:
- Products for Metals and Mining sector.
- Products with Cross industrial applications.
- Electronics for personal or commercial applications.
- Air or Gas related products.
- Products for Construction sector.
- Products for food and beverages.
- New technologies.
- Globally Competitive National Champions
- Cutting Edge Machinery
64 B GDP
59 K JOBS
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