
Saudi Arabia imported more than 2.4 million vehicles at the cost of SR 181 billion in the past three years, whereas the value of its imports of automotive parts and accessories stood at nearly SR 19 billion, according to the General Department of Statistics. Commerce and Industry Tawfiq Al-Rabiah said a number of auto firms such as Mercedes, Land Rover and other companies had expressed willingness to set up auto factories in the Kingdom. The auto firms are in talks with the national industrial clusters program (NICP), he said. The NICP aims to attract and provide support for the establishment of car assembling projects. Azaam Alshalabi, chief of NICP, said car production in the Kingdom is estimated to hit 600,000 units by 2025. Economists say that the Kingdom can achieve success in the auto industry because of the availability of basic materials such as iron, plastic, aluminum and glass, in addition to supportive industries. The Council of Ministers recently approved the extension of NICP for another five years as part of efforts to strengthen the Kingdom’s drive toward industrialization. Recent reports said the Kingdom offers lucrative investment opportunities in five key industrial sectors. They are minerals and metals; automotive, plastics and packaging; home appliances and solar energy. Teams of professionals are available in each of these fields to offer consultation and technical support to investors, officials said. Source: ArabNews
GMT 15:26 2017 Friday ,22 December
VW sacks executive jailed over 'dieselgate': reportGMT 12:54 2017 Friday ,22 December
Baidu accuses former exec of stealing self-driving car technologyGMT 17:41 2017 Wednesday ,06 December
UK car sales extend slump: industry bodyGMT 14:49 2017 Sunday ,19 November
US rejects Ford petition to delay recall of 3m vehiclesGMT 19:06 2017 Wednesday ,08 November
BMW revs research spending higher, profits fishtailGMT 10:33 2017 Tuesday ,24 October
Singapore to freeze number of cars on its roadsGMT 13:26 2017 Tuesday ,17 October
Tesla sacks hundreds of workers on Model 3 stall: sourceGMT 21:18 2017 Saturday ,07 October
Tesla delays big rig truck debut; Model 3 in ‘production hell’
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor