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Mining, Manufacturing Activities Drive a Leap in Saudi Industry Growth

The Saudi Minister of Industry and Mineral Resources visits Al-Khunaiqiah Mining Site in Saudi Arabia. (Asharq Al-Awsat)
The Saudi Minister of Industry and Mineral Resources visits Al-Khunaiqiah Mining Site in Saudi Arabia. (Asharq Al-Awsat)
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Mining, Manufacturing Activities Drive a Leap in Saudi Industry Growth

The Saudi Minister of Industry and Mineral Resources visits Al-Khunaiqiah Mining Site in Saudi Arabia. (Asharq Al-Awsat)
The Saudi Minister of Industry and Mineral Resources visits Al-Khunaiqiah Mining Site in Saudi Arabia. (Asharq Al-Awsat)

The Saudi Authority for Industrial Cities and Technology Zones (MODON) has launched a program to support small and medium-sized enterprises in the field of innovation, with the aim of developing the industry sector in the Kingdom.

The joint program was launched in cooperation with the King Abdullah University of Science and Technology (KAUST), within the framework of the memorandum of understanding signed by the two parties at the end of 2019, to support and implement research projects that contribute to Saudi Arabia’s industrial development.

Qusai Al-Abdulkarim, Director of Marketing and Corporate Communications at MODON, said that the joint program was launched in 2021 in two phases and fell within a strategy to empower the industry, increase the content and establish integrated partnerships with the public and private sectors, in line with the objectives of the Kingdom’s Vision 2030 and the MODON initiatives to diversify the national economy and consolidate concepts of sustainable development.

Meanwhile, the monthly bulletin issued by the General Authority for Statistics (GASTAT) revealed that Saudi Arabia’s industrial production index (IPI) has increased by 26.7% compared to the same period last year.

The IPI continued to show positive growth rates due to the high production in mining, quarrying, and manufacturing activity, it stated.

The mining and quarrying grew in April by 28.3% compared to the previous year, while the manufacturing activity rose by 25.1% compared to 2021. The electricity and gas supplies decreased by 2%, it stated.

According to the report, the overall index increased by 0.5% compared to March 2022. Mining and quarrying showed a month-on-month growth rate of 1.3%. The manufacturing sector decreased by 2.0%, electricity and gas supplies increased by 2.1%, it added.

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Three Saudi-Yemeni Companies Established in Energy, Telecom to Support Yemen's Reconstruction

The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)
The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)
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Three Saudi-Yemeni Companies Established in Energy, Telecom to Support Yemen's Reconstruction

The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)
The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)

The Saudi-Yemeni Business Council, part of the Federation of Saudi Chambers, announced six initiatives to boost trade and support Yemen’s economic development at a meeting in Makkah, Saudi Arabia.
Over 300 Saudi and Yemeni investors attended, agreeing to establish three companies to help rebuild Yemen and improve its infrastructure.
The initiatives include upgrading border crossings to improve logistics and increase trade, currently valued at 6.3 billion riyals ($1.6 billion). Yemen’s exports to Saudi Arabia, worth only 655 million riyals ($174.6 million), highlight untapped potential in mining, agriculture, livestock, and fisheries.
Key recommendations to enhance trade and support Yemen’s economic recovery include setting up quarantine facilities for Yemeni livestock and agricultural products to increase exports, as well as building smart food cities near border areas to improve food security and sustainable cooperation.
The Council urged action to address banking challenges faced by traders, suggesting reforms in Yemen’s financial sector and stronger ties with Saudi banks. It also proposed creating a club for Yemeni investors in Saudi Arabia to encourage joint projects and partnerships.
Three new Saudi-Yemeni companies will be established. One will invest $100 million in solar energy to provide sustainable electricity in Yemen. Another will focus on boosting telecommunications via Starlink satellite services. The third will organize events to promote Saudi products and support Yemen’s reconstruction.
Speaking to Asharq Al-Awsat, Council President Dr. Abdullah bin Mahfouz emphasized the private sector’s critical role in stabilizing Yemen’s economy and society through investments that support development, create jobs, improve infrastructure, and promote small and medium-sized enterprises (SMEs).
He stressed the importance of empowering Yemeni entrepreneurs and securing funding for reconstruction projects, encouraging public-private partnerships to execute large-scale initiatives under the Build-Operate-Transfer (BOT) model.
The Makkah meeting ended with agreements between Saudi and Yemeni companies to develop key sectors such as energy, agriculture, and infrastructure.
Streamlined customs, improved logistics, and upgraded Yemeni ports and airports were also highlighted as priorities to facilitate trade.
Yemeni delegation leader Abdulmajid al-Saadi, praised Saudi Arabia’s new investment law, noting Yemeni investments in the Kingdom have reached 18 billion riyals ($4.8 billion), ranking third among foreign investors.