The Kingdom of Saudi Arabia is strengthening its strategic partnership with the United Nations Industrial Development Organization (UNIDO) to promote sustainable and inclusive industrial development. This collaboration aligns with the United Nations Sustainable Development Goals for 2030, demonstrating Saudi Arabia’s commitment to global development initiatives. The Kingdom aims to bridge the development gap between nations and bolster industrial competitiveness through this partnership. This collaboration will also focus on attracting investment and incorporating advanced technologies in key industrial sectors.
Despite Saudi Arabia’s implementation of various national strategies and initiatives to enhance the industrial sector and the overall economy, the sector faces several operational challenges. These include diversifying industrial activities, improving local practices, increasing integration with global value chains, developing human capital, promoting localization, achieving sustainable sector growth, upgrading infrastructure, and adopting modern technologies.
UNIDO plays a vital role as an international organization that provides technical cooperation and knowledge-based assistance through consultations, policy development, and joint initiatives. This support is crucial in overcoming the challenges facing the development of the Kingdom’s industrial sector. Eight key areas for future cooperation with UNIDO have been identified, including developing policies that align with global standards, enhancing institutional capacity for timely political decision-making, and facilitating foreign investment through the promotion of technology, innovation, partnerships, and advanced technology transfer.
Saudi Arabia is committed to achieving sustainable industrial development aligned with its Vision 2030. By implementing various policies and initiatives focusing on diversifying the national economy and reducing reliance on oil, the Kingdom is actively pursuing a more diversified and sustainable economic future. This collaboration with UNIDO aims to accelerate digital transformation in the industry, develop human capital, and strengthen integration with international markets to achieve a significant leap in the quality of national industries and increase the sector’s attractiveness to local and international investors.
The Kingdom is preparing to host the Multilateral Industrial Policy Forum, which will provide a dynamic environment for exchanging ideas and experiences with industry leaders and experts worldwide. This forum aims to develop effective and innovative industrial policies that keep pace with global sector developments. It also seeks to strengthen international cooperation to support sustainable industrial development and drive industrial growth, considering local and international challenges.
