Saudi Arabia Launches the National Industrial Development and Logistics Program
January 29, 2019
HRH Saudi Crown Prince Mohammed bin Salman inaugurated the National Industrial Development and Logistics Program (NIDLP) at the eMILE Forum in Riyadh on Monday. NIDLP is one of 13 Vision Realization Programs under Saudi Vision 2030. It is focused on transforming Saudi Arabia into an industrial powerhouse and a global leader in logistical services by leading and guiding growth in four key sectors: Industry, Mining, Energy and Logistics.
Through its 330 logistics initiatives, NIDLP seeks to develop qualitative industries, increase non-oil exports, reduce imports, raise contribution of the target sectors to GDP, create major employment opportunities, improve the Kingdom’s trade balances, maximize local content, and attract foreign investments.
Upon the conclusion of the eMILE Forum, 37 MoUs and 29 agreements were signed or announced between various international investors and local Saudi companies and government agencies. The total value of these MoUs and agreements is estimated at SR 205 billion. Among the agreements announced were two MoUs between the Saudi Military Industry Program (SAMI), French firm Thales, and CMI Defence of Belgium.
In an official statement, Minister of Energy Industry and Mineral Resources Eng. Khalid Al-Falih revealed that "by 2030, [NIDLP] aims to increase the contribution of the four sectors; industry, mining, logistics and energy in GDP to SR 1.2 trillion. The program seeks to stimulate investments worth more than SR 1.7 trillion, raise non-oil exports to more than SR 1 trillion, and develop the labor market through creating 1.6 million new jobs".