Now Reading
Saudi energy manufacturing sector to create jobs, strengthen country’s exports – report

Saudi energy manufacturing sector to create jobs, strengthen country’s exports – report

A majority in the survey conducted felt that energy manufacturing should be a shared responsibility of the government and private sector

Saudi Arabia’s energy manufacturing sector will be the country’s industry of the future, a GE report revealed.

The report offered insights on the country’s industrial and energy manufacturing landscape, based on feedback of Saudi STEM professionals and students.

Over 74 per cent of the participants felt that energy manufacturing sector should be an economic priority for the Kingdom, as well as a shared responsibility of the government and private sector. Energy sector manufacturing entails all industrial activities pertinent to the energy value-chain.

The local manufacturing sector is recognized as one of the top three sectors, besides technology and tourism, and will be a key industry to witness growth over the next decade, the study added.

Saudi professionals foresee economic benefits of a stronger energy manufacturing sector, as 59 per cent of the respondents feel confident of Saudi nationals securing jobs created in this sector. Half of the participants feel strong on entrepreneurship in the country, considering establishing small businesses in line with the Saudi Vision 2030.

However, a lack of highly-skilled workers is considered the most significant challenge discouraging additional energy manufacturing elements from being locally produced, the study revealed.

“The findings of our first independently commissioned survey offers new insights on the value that energy sector manufacturing can bring to the Kingdom,” said Hisham Albahkali, president and CEO of GE Saudi Arabia and Bahrain.

“With over 80 years of presence in the Kingdom, and our committed investments in building localized manufacturing, we see the sector as a powerful platform to support achieving the wider goals of the Kingdom under Saudi Vision 2030.”

Read: Saudi Aramco building global gas business to cut carbon footprint

© 2020 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top