Thursday,8 August 2014

KSA AS THE MAIN INDUSTRIAL COUNTRY IN THE MIDDLE EAST

KSA AS THE MAIN INDUSTRIAL COUNTRY IN THE MIDDLE EAST
One of the fastest emergent sectors in Saudi Arabia is industry: its recent developments have created an unmatched demand for the full range of industrial machinery, machine tools and spare parts.

MODON, the Saudi Industrial Property Authority started with 14 industrial cities in 2007, now they are 22. The government is setting up new towns and expanding existing cities located in the neighbourhood of the industrial cities to boost local industry. Currently MODON is setting up 40 industrial cities throughout the Kingdom by 2015. Market sales of machine tools from 2007 double in 2012 and 95% of the local demand is served by imports, from North America and European countries and China and in the industry sector metalworking machines remains the largest and the best performer category (source: Euromonitor – ISIC Report 2922)