Riyadh – Mubasher: Saudi Arabia plans to double the gross domestic product (GDP) in industrials sector by three to four times until 2020, said Energy, Industry, and Mineral Resources Minister Khaled bin Abdulaziz Al-Faleh.

This will lead to a 10% growth ratio or more on annual basis, the Saudi Press Agency (SPA) reported, citing Al-Faleh as saying.

Al-Faleh noted that the ministry plans to register a 9% increase in job vacancies, and a 16% rise in industrials’ exports.

The domestic industry’s strategy of Saudi Arabia will contribute to enhancing the Kingdom’s economy restructure and diversifying income sources in line with Saudi Vision 2030, and National Transformation Program 2020, Al-Faleh indicated during a roundtable meeting organized by Riyadh Chamber.

The ministry plans to apply governance on the industrial sector in a bid to transform Saudi Arabia into a regional industrial hub and global logistics center, as well as creating job and investment opportunities out of oil and gas industry sectors, particularly in industrials, mining, energy, and logistic services.