Saudi petrochemicals producers are stepping up their drive to attract downstream manufacturing plants to the kingdom. SABIC corporate finance vice-president Mutlaq al-Morished has called for collaborative efforts at various levels of government and to establish “made in Saudi Arabia” industries, arguing that Saudi Arabia’s competitive advantages make it a prime investment destination.
Mr Morished told the recent Global Competitiveness Forum in Riyadh that for Saudi petrochemicals downstream industries to flourish, “empowered executors” would need to collaborate in the program, particularly in establishing industrial parks. Citing the success of Jubail Industrial City, he said eight industrial parks were planned to house 130 specialized factories, bringing the know-how and technologies for a new Saudi industrial era. (CONTINUED - 494 WORDS)