Saudi Arabia emerges as global model for economic development: Alkhorayef

Minister of Industry and Mineral Resources Bandar Alkhorayef affirmed that Saudi Arabia has become a global model for economic development and for building a diversified economy.

He noted that the Kingdom’s industrial environment is among the most attractive for investment, thanks to the stability of legislation and regulations, and the government’s commitment to enabling investors to inject capital and transfer technology with minimal risks and volatility.

Speaking during the celebration of the National Industrial Development and Logistics Program (NIDLP) for 2025 achievements, Alkhorayef said the program has demonstrated the Kingdom’s capability not only to plan, but also to provide the tools necessary for successful implementation. He reiterated that Saudi Arabia has become a global benchmark for economic development and diversification.

The minister pointed out that the question raised in 2016 about whether ambitions could be translated into tangible impact is no longer valid, as the figures have proven the Kingdom’s success in achieving its targets and building an economic model from which the world can learn in empowering people and creating a new economy.

Alkhorayef explained that NIDLP sectors contributed approximately SAR 790 billion to GDP, recording growth of 5% compared to 2024. Non-oil exports reached a record SAR 307 billion during the first half of 2025, marking growth of more than 18%.

He added that industrial exports also hit a record high of SAR 167 billion, while non-oil activities accounted for 66% of GDP, with program sectors contributing around 39% of that share.

The minister further said total employment in NIDLP sectors rose by the end of Q3 2025 to 2.54 million workers. Saudization reached 26%, with a total of 104,000 Saudi employees during 2025, with women accounting for 31%.

On investments, Alkhorayef noted that cumulative completed non-government investments amounted to approximately SAR 720 billion.

In the energy sector, the minister said total grid-connected renewable energy capacity reached 12.3 gigawatts (GW), with new capacities of around 21 GW.

Renewable energy projects aim to reach 400 GW, compared with zero in 2016. 

In the industrial sector, the number of factories increased from 7,200 in 2016 to around 12,900 by the end of Q3 2025.

Defense spending localization rose to nearly 50%, in line with the 2030 target of 50%.

Alkhorayef also highlighted the establishment and operation of the National Center for Advanced Manufacturing and Production, aimed at developing Saudi industrial culture and enhancing readiness for future industries.

As for exports, total credit facilities provided by the Saudi Export-Import Bank (Saudi EXIM) since its establishment in mid-2020 surpassed SAR 100 billion, enabling Saudi exports to reach more than 180 countries worldwide.

Additionally, the Aviation Industry Cluster was launched over an area of 1.2 million square meters, alongside the launch of the King Salman Automotive Manufacturing Complex in King Abdullah Economic City, hosting three major global companies.

In the logistics sector, the number of logistics platforms reached 23 by the end of 2025.

The expansion and launch of the South Container Terminal at Jeddah Islamic Port were completed with investments of SAR 3 billion, in addition to the opening of the expanded container terminal at King Abdulaziz Port in Dammam with investments of SAR 2.18 billion.

In mining, the number of mining licenses increased to 2,550, up by around 600.

About 90% of the first phase targets of the Arabian Shield geological survey were completed, alongside the launch of the Mining Innovation Studio initiative.

Alkhorayef also referred to the issuance of the first exploration licenses for mineralized belts covering an area of 4,788 square kilometers, as well as the launch of the second and third phases of the Arabian Shield geological survey with investments exceeding SAR 500 million.

He noted that the Kingdom achieved progress in 81 out of 104 investment attractiveness indicators and ranked 23rd globally in the education sector, reflecting the stability of the investment and legislative environment.

The minister emphasized that the next phase of NIDLP will focus on maximizing added value, enabling industrial and mining investments, enhancing competitiveness, and adopting advanced technologies.

This is in addition to contributing to sustainable impact and reinforcing the program’s role as a key driver of Saudi Vision 2030.

Underscoring the importance of partnership with the private sector, the minister also praised the role of national talents and Saudi youth in the transformation journey.

He affirmed that Saudi ambition continues and that the future holds even greater promise.