RIYADH: New electronic services and a thorough operational plan for 2024 have helped Saudi Arabia better position the non-profit sector in its mining and industrial sectors.
The new project was unveiled by the Ministry of Industry and Mineral Resources, which highlighted six main goals to increase the nonprofit sector’s contribution.
According to an official release, these objectives include raising domestic investments, developing non-oil industrial exports, enhancing workforce skills, and offering various supportive services.
Under its Vision 2030 framework, the Kingdom is actively pursuing a broad industrial and economic transformation to diversify its economy from relying on oil.
A key component of this transition is the National Industrial Strategy, which was introduced in 2022 and focusses on developing industrial capabilities, boosting domestic production, and promoting sustainable economic growth.
The ministry’s website provides information on the new electronic services, which include applications for forming non-profit organisations and asking for the transfer of technical oversight to these organisations.
Currently, the ministry oversees five significant non-profit organisations, including the Industrial Exporters Association, the Supply Chain and Procurement Society, and the Pharmaceutical Industry Association. Additionally, it is in charge of the Automotive Manufacturers Association and the Industrial Loss Prevention and Risk Mitigation Association.
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