Saudi Arabia is making a smooth transition into an advanced industrialized country. With a renewed emphasis on manufacturing and jobs, the first indications that Saudi is beginning to turn away from raw resources into a lasting industrial development is apparent.
The country's Eighth Development Plan aims to increase the contribution of the private sector in economic and social development by raising the participation of Saudi women in such areas. The country's affirmation was sounded out by the Commerce and Industry Minister Tawfiq Al-Rabiah. "The ministry has resolved to fight cover-up businesses that incur heavy losses to the country," Al-Rabiah said while addressing the 12th Jeddah Economic Forum during its formal inaugural ceremony.
Saudi is simultaneously planning to open a large number of small industries that cover an area of 400 to 800 sq meters. New development plans for the Northern Province, aimed at achieving a balanced regional growth, are also in the pipeline. Education and labor reform besides making the country competitive in Asian markets is a key demand of the reformists.
