RIYADH: In a bid to speed up Saudi Arabia’s aim to integrate supply chains, the Ministry of Industry and Mineral Resources has launched an industrial platform to help manufacturers procure petrochemical raw materials efficiently.
According to the ministry, this platform falls under the umbrella of the Petrochemical Supply Chains Integration Committee, which intends to boost the production capacity of existing manufacturing plants and increase investment in the sector.
This move will improve the supply chain integration of the petrochemical and manufacturing industries.
The ministry stated that the service aims to promote and strengthen the sector in the Kingdom by matching the availability of petrochemical materials with the needs of the manufacturing industry.
“The service aims to ensure that the manufacturing industries benefit from the competitive advantage directed to the petrochemical sector and to provide the integration of the petrochemical sector’s supply chains,” said Jarrah Al-Jarrah, the ministry’s official spokesman.
He added: “In addition to automating the mechanism for requesting support in procuring petrochemical raw materials, it addresses challenges faced by relevant authorities.”
The Kingdom’s plans to become a hub for global manufacturing, which would revolutionize its industrial base, are well underway as part of its Vision 2030 strategy, Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef said during the World Economic Forum in Davos in January this year.
“With our great location, access to different markets (and natural resources), as well as our most important asset — our people and our talent — we can be a serious player in attracting investments in manufacturing,” he explained at the event.
