The Saudi Arabia Ministry of Industry and Mineral Resources has launched the Saudi Advanced Manufacturing Hub (Saudi AMHUB) strategy, hosted by the Saudi Industrial Development Fund (SIDF), in partnership with the World Economic Forum (WEF), aimed at positioning the kingdom at the global forefront of industrial innovation and advanced manufacturing.
The Saudi AMHUB is led by 24 core champions from the public, private and academic sectors, and its key strategy is to promote Kingdom’s industrial sector. In addition, it will be strengthening links between investors and providers of advanced technologies globally.
The strategy is based on three priorities such as enabling national cadres in the public, private and academic sectors to adapt to the new landscape of the developments in the industrial sector, supporting the efforts of Small and Middle-sized Enterprises (SMEs) in their journeys towards digital transformation, and transfer technologies and best practices in line with the Global Network of Advanced Manufacturing Hubs.
It also lays out three key priorities for the knowledge-sharing platform. First, led by King Fahd University of Petroleum and Mineral (KFUPM), gives access to talent, skills gaps, and lack of incentives for workers. The second priority, which is led by Obeikan Investment Group, is supporting SMEs in their digital transformation journey. The third is enabling technology transfer and innovations to upgrade manufacturing facilities and is led by SABIC.
The strategy envisions a range of practical measures to be taken in pursuit of these priorities, including the introduction of new certifications, collaborative training with industry partners, and the ramping up of R&D capabilities.
In addition to these key priorities, Saudi AMHUB will seek to advance issues such as the industry’s alignment with global ESG criteria and the improvement of coordination between CEOs and leadership of domestic manufacturing companies.
