Saudi Arabia mulls new rules to boost local manufacturing

Saudi authorities are considering new rules that include requiring petrochemical firms to manufacture a part of their raw materials locally, Khalid Al Salem, chairman of the National Industrial Clusters Development Program, told Al-Eqtisadiah on Sunday.

The planned scheme will encourage major petrochemical producers to distribute some of their products locally either through manufacturing at or sale to small plants across the kingdom.

Al Salem added the required paperwork is being completed for the new rules, which will be submitted for approval after discussions.