The Fourth Industrial Revolution technologies are considered essential for achieving industrial transformation in Saudi Arabia, according to Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef. By automating industrial facilities and converting them into smart factories that rely on advanced manufacturing solutions, the Kingdom aims to improve production efficiency and reduce costs. The “Future Factories” program launched by Saudi Arabia seeks to automate 4,000 factories by adopting Fourth Industrial Revolution applications, utilizing artificial intelligence and robotics in manufacturing processes, and enhancing quality control. This initiative also aims to create high-quality jobs that reduce reliance on unskilled labor, transforming the nature of jobs in the Kingdom.
The National Industrial Strategy of Saudi Arabia focuses on localizing and developing 12 promising industrial sectors. The strategy is designed to integrate with relevant entities in both the public and private sectors, with objectives that intersect with 20 other national strategies to achieve effective partnerships benefiting the Kingdom and its international partners. With over 800 investment opportunities worth SR1 trillion, Saudi Arabia presents an opportune time to attract investments from Italian companies into the Kingdom’s industrial sector. The strategic goals of the National Industrial Strategy align with Saudi Vision 2030, which aims to diversify the Kingdom’s economic base and transform the mining sector into a third pillar of Saudi industry.
During a meeting in Rome, Saudi Minister Bandar Alkhorayef met with Italian Minister of Enterprises and Made in Italy Adolfo Urso to explore ways to enhance industrial collaboration between their countries. Both ministers discussed attracting major Italian companies to invest in strategic industrial sectors within Saudi Arabia, emphasizing the mutual benefits of strengthening economic ties in the industrial and mining sectors. The Saudi-Italian partnership was praised as a model for international cooperation and economic integration. Alkhorayef presented the unique investment opportunities available in promising sectors outlined in the National Industrial Strategy and encouraged Italian companies to expand their investments in the Kingdom.
The official visit of Saudi Minister Bandar Alkhorayef to Italy aims to foster industrial and mining cooperation, explore joint opportunities in critical sectors aligned with the National Industrial Strategy, leverage cutting-edge industrial innovation solutions, and attract investments to promising sectors in Saudi Arabia. The roundtable meeting organized by the General Confederation of Italian Industry in Rome, attended by private sector leaders and the CEO of the National Industrial Development Center (NIDC) Eng. Saleh Al-Solami, highlighted the importance of the Fourth Industrial Revolution technologies in achieving industrial transformation in Saudi Arabia. By automating factories and implementing advanced manufacturing solutions, Saudi Arabia aims to boost production efficiency, reduce costs, and create high-quality jobs.
