Saudi Arabia’s NIDLP surpasses half of Vision 2030 targets ahead of schedule

 

Saudi Arabia’s NIDLP achieves more than half of Vision 2030 targets 

Saudi Arabia’s National Industrial Development and Logistics Program (NIDLP) has achieved over half of its Vision 2030 targets well ahead of schedule, according to Energy Minister Prince Abdulaziz bin Salman. Speaking at the NIDLP Annual Ceremony 2024, he announced that 13 out of the program’s 23 goals have already been met, with the remaining objectives on track for timely completion.

Prince Abdulaziz credited the program’s success to a robust action plan and seamless collaboration between the Ministry of Energy and NIDLP.

“The mechanisms adopted by NIDLP are closely aligned with those of the Ministry of Energy, enabling strong, collaborative outcomes,” he stated.

 

Read More       Saudi Arabia invites global industry leaders to Riyadh forum

 

Impact Beyond Energy

The minister emphasized that NIDLP’s achievements extend across multiple sectors beyond energy. Key areas of impact include bolstering energy security, enhancing supply chain resilience, and advancing sustainability—all critical to Saudi Arabia’s Vision 2030 goal of becoming a global leader in industrial development and logistics.

Prince Abdulaziz also highlighted the pivotal role of human talent within NIDLP, noting its contribution to the program’s success and the broader energy ecosystem.

Economic Growth and Employment

Minister of Industry and Mineral Resources Bandar Alkhorayef, who chairs the NIDLP Program Committee, shared additional milestones during the event:

• Economic Contribution: By the third quarter of 2024, sectors targeted by NIDLP added SR433 billion ($115.3 billion) to Saudi Arabia’s GDP, marking a 2.4% year-on-year growth.
• Export Growth: Exports from these sectors rose by 11.1% compared to the third quarter of 2023.
• Employment Impact: Total employment in NIDLP-related sectors reached 2.1 million by Q3 2024, including 660,000 Saudi nationals, with women comprising 200,000 of the workforce.

 

Read More       Saudi Arabia to train its nationals in green hydrogen energy

 

These achievements reinforce NIDLP’s role as a cornerstone of Saudi Arabia’s Vision 2030, demonstrating the Kingdom’s commitment to fostering industrial development, economic diversification, and sustainable growth.

Source: Arab News