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Manufacturing Opportunities in the Kingdom of Saudi Arabia

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Manufacturing Opportunities in the Kingdom of Saudi Arabia November 2018 | By: Ameer Yousif, Jaffer Al Hamad, Adel Al Banna Manufacturing Opportunities In The Kingdom of Saudi Arabia A market intelligence report looking into the opportunities within the manufacturing sector in the Kingdom of Saudi Arabia, in view of the local content policy. The report also outlines the landscape of the sector and the various support & stimulation programs. Actionable Market Intelligence Report With the objective to support the Bahraini private sector to expand and grow in the region, Tamkeen is developing a series of actionable market intelligence reports on various areas and sectors in the Saudi Market. Manufacturing Opportunities in KSA | P a g e 0 TABLE OF CONTENTS 1. INTRODUCTION ............................................................................................................ 2 2. LOCAL CONTENT POLICY ............................................................................................ 3 3. MANUFACTURING MARKET IN KSA ............................................................................ 5 MANUFACTURING LANDSCAPE ........................................................................... 5 MANUFACTURING COST STRUCTURE ................................................................ 8 4. MANUFACTURING INFRASTRUCTURE ....................................................................... 9 INDUSTRIAL CITIES .............................................................................................10 MODON OASES ....................................................................................................10 5. BUSINESS ENVIRONMENT & SUPPORT PROGRAMS ................................................11 LICENSING REGULATION AND PROCESS FOR FOREIGN INVESTMENT ..........12 FINANCIAL SUPPORT ..........................................................................................13 LOCAL LOAN PROGRAMS ...................................................................................14 REGIONAL LOAN PROGRAMS .............................................................................15 FISCAL SUPPORT ................................................................................................17 EMPLOYMENT FUNDING .....................................................................................18 SIDF FUNDING .....................................................................................................20 6. OPPORTUNITIES BY SECTOR .....................................................................................23 OIL AND GAS (ARAMCO – IKTVA PROGRAM)......................................................24 PETROCHEMICAL (SABIC – NUSANED PROGRAM) ...........................................27 WATER DESALINATION (SWCC – LOCAL FABRICATION PROGRAM) ................29 ELECTRICITY (SE – LOCALIZATION PROGRAM) ................................................31 SECURITY & DEFENCE (AFED PROGRAM) .........................................................32 7. RECOMMENDATIONS ..................................................................................................33 Manufacturing Opportunities in KSA | P a g e 1 1. INTRODUCTION Kingdom of Saudi Arabia is determined to change the current trading deficit in terms of the imports and export products format being Raw, Semi-finished and Finished Products. The kingdom imports mainly finished products and exports raw materials. To manage this transformation, the government issued a “Local Content” initiative, part of the transformation initiatives under the Vision 2030. The initiative is well governed by a dedicated body called "Nama'a" which takes responsibility for the supervising the implementation program. Beside facilitating, supporting and encouraging the private sector to switch to local manufacturing, the government started with the major sectors and corporates they have the direct influence on its management: . Military and Security, . Oil and Gas, . Petrochemical, . Electricity, and . Water In each of these sectors, dedicated programs and teams were put in place to: . Change the procurement policy to make sure that local content targets are applied . Creating an auditing process to ensure compliance with the policy . Creating a detailed supporting program for the local manufacturing projects The "Local Content" policy is part of the economic diversification plan, where local manufacturing is a cornerstone of the program and is being catalyzed by attractive ecosystem consisting of industrial cities, the well-developed infrastructure of more than 35 industrial and economic cities, high-quality utility supplies, and a well-established logistics network. Along the "local Content" initiative, Kingdom of Saudi Arabia is developing its business environment and economic performance, by establishing clear priorities, solid alignment amongst all relevant stakeholders, and serious commitments in leveraging private investments. It is very important for businesses used to or looking to supply services or products to the government and above major sectors, the seriousness and determination of the Saudi government to implement the local content policy and achieve its targets. Accordingly, it is advisable to be one the first-movers and benefit from the policy offerings and the various incentives. This report investigates the “Local Content” policy, the incentives and support programs, and the various manufacturing opportunities in the main sectors Manufacturing Opportunities in KSA | P a g e 2 2. LOCAL CONTENT POLICY In line with the objectives of Saudi national vision 2030, several programs were initiated by the main industries and government bodies to boost the local manufacturing and services sectors in order to increase the local content from current 36% to 50% by 2020. The government started with the major companies and government bodies that have a major impact in the economy and in the trading balance, and where it can enforce the policy and stimulate the private sector serving these entities: . Increase none oil export from 16% to > 50% . Oil & Gas sector from 40% to 75% . Health 10% increase annually . Defence from 2% to 50% by the year 2028 MAIN ENTITIES IN LOCAL CONTENT PROGRAM NO ENTITY NAME PROGRAM NAME (اكتفاء) Aramco Iktva 1 (نساند) Sabic Nusaned 2 3 Saline Water Conversion Corporation SWCC Local Fabrication Program 4 Saudi Electricity Company Localization Electricity Industry (أفد) Defence & Security Sector AFED 5 Above entities listed hundreds of products and services as investment opportunities for both local and international investors with lucrative support programs including off-take agreements for ten years. More details about each program are the section “Opportunities by Sector”. The entities made the responsibility for local content a core part of the day-to-day processes of the procurement teams, rather being a corporate social responsibility. They even established auditing mechanism to ensure conformity to the policy. Following the standards of vision 2030 implementation, Saudi Arabia established an entity “Nama’a” http://namaa.gov.sa/en/ for monitoring and enforcing the local content policy. The entity ensures that all the companies where government own the majority or has a major influence on, and all government bodies are abiding by their obligations to achieve the targets of the policy. ITEMS COUNTED UNDER LOCAL CONTENT POLICY Salaries Paid To Saudis Training & Development of Saudis Localised Goods & Services + Supplier development spending Manufacturing Opportunities in KSA | P a g e 3 3. MANUFACTURING MARKET IN KSA MANUFACTURING LANDSCAPE More than 7,700 factories are operating in the kingdom of Saudi Arabia. They are located all over the 13 administrative areas, with a higher density in the main three areas Riyadh, Makkah, and Eastern Province. While Riyadh ranks first in terms of highest number of factories and the highest number of employees, Eastern Province ranks first in size of capitals. Manfacturing Landscape Across The Administrative Areas Sum of No. of Establishments Sum of No. of Employees Sum of Capital (Trillion SAR) 700,000 3,500 600,000 3,000 500,000 2,500 400,000 2,000 No No of Employees - 300,000 1,500 No No of Establishments 200,000 1,000 Capital Capital T SAR 100,000 500 - - The top five manufacturing activities in terms of the number of establishments and manpower are: 1- Other non-metallic mineral products 2- Fabricated metal products 3- Rubber and plastic products 4- Food products 5- Chemicals and chemical products. The following chart shows the landscape of the 25 manufacturing activities, followed by a table listing the size of each activity in terms of the number of establishments, capital, and manpower. The table also includes three more related activities to the manufacturing, which are: 1- Repair and installation of machinery and equipment 2- Electricity, gas, steam and air conditioning supply 3- Water collection, treatment, and supply Manufacturing Opportunities in KSA | P a g e 5 Manufacturing Activities in KSA Sum of No. of Establishments Sum of No. of Employees Sum of Capital (Trillion SAR) 600,000 1,800 1,600 500,000 1,400 400,000 1,200 1,000 No No Employees Of 300,000 - 800 200,000 600 400 100,000 No Estbalishments Of 200 Capital Capital T SAR - - Textiles Furniture Beverages Basicmetals Foodproducts Wearingapparel Electricalequipment Other manufacturing Repairand installation of… Fabricatedmetal products Paperand paper products Other transport equipment Products and preparations… Printingand reproduction of… Leatherand related products Rubber and plasticsproducts
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