Saudi Launches 200 Projects in 74 Countries to Support Kingdom’s Non-Oil Exports

Saudi Arabia pushes for national products to reach global markets (Asharq Al-Awsat)
Saudi Arabia pushes for national products to reach global markets (Asharq Al-Awsat)
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Saudi Launches 200 Projects in 74 Countries to Support Kingdom’s Non-Oil Exports

Saudi Arabia pushes for national products to reach global markets (Asharq Al-Awsat)
Saudi Arabia pushes for national products to reach global markets (Asharq Al-Awsat)

More than 200 projects were launched in 74 countries to support the export of Saudi national products, revealed a recent report that monitored the level of achievements of the Kingdom's Vision 2030 in 2021.

The projects come within the framework of supporting Saudi products’ access to international markets, the report added.

Empowering local content and national industries in all fields and upgrading their quality are among the priorities of Saudi Vision 2030, which looks to raise the contribution of non-oil exports to the Kingdom’s non-oil GDP to about 50% by 2030.

The report, which Asharq Al-Awsat viewed a copy of, revealed several achievements related to achieving a diversified economy and enhancing local content.

For example, the “Saudi Made” program managed to attract more than 1,100 local companies, with more than 4,500 products in 16 diversified sectors.

“Saudi Made” offers a large package of advantages and opportunities for companies, expands the scope of their work and helps them to promote their services and products locally and globally and direct purchasing power towards them after adhering to the quality and standards specified in the program.

In the military sector, according to the report, the Saudi Council of Ministers approved the strategy of the military industries sector in the Kingdom.

The strategy aims to develop national industrial capabilities in the military field, support investors, transfer technology, and provide job opportunities for the country’s young men and women, as the total number of licensed companies in the military sector reached 144 by the end of 2021.

Moreover, as part of the strenuous efforts to diversify the economy and localize industries, Saudi Arabia launched the National Strategy for Transport and Logistics Services.

The strategy includes a wide range of major projects and ambitious initiatives that will push the sector's services to advanced levels regionally and internationally to support sustainable development in all regions of the Kingdom.



World Bank Redirects Funds Towards Lebanon Emergency Aid

Flames rise from Israeli airstrikes in Dahiyeh, Beirut, Lebanon, Friday, Oct. 4, 2024. (AP Photo/Hussein Malla)
Flames rise from Israeli airstrikes in Dahiyeh, Beirut, Lebanon, Friday, Oct. 4, 2024. (AP Photo/Hussein Malla)
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World Bank Redirects Funds Towards Lebanon Emergency Aid

Flames rise from Israeli airstrikes in Dahiyeh, Beirut, Lebanon, Friday, Oct. 4, 2024. (AP Photo/Hussein Malla)
Flames rise from Israeli airstrikes in Dahiyeh, Beirut, Lebanon, Friday, Oct. 4, 2024. (AP Photo/Hussein Malla)

The World Bank announced on Thursday that it was redirecting funds originally earmarked for development programs in Lebanon towards emergency aid for people displaced by Israeli bombardment of the country.

"The World Bank is activating emergency response plans to be able to repurpose resources in the portfolio to respond to the urgent needs of people in Lebanon," said a statement from the US-based multilateral institution.

The multilateral institution currently has $1.5 billion in funding for programs in Lebanon. Part of this amount will be redirected.

Since September 23, more than 1,000 people have been killed in an Israeli air-and-ground campaign on Lebanon that has targeted armed group Hezbollah in the south and east of the country, with strikes expanding to include the capital Beirut.

Thousands have been displaced since the bombing began, and the funds would be used to provide aid to those populations, the World Bank said.

"This would include emergency support to displaced people that could be deployed through a digital platform the World Bank helped put in place during the Covid epidemic," the statement said.