Al-Falih added that the best way to obtain the real value of our transformative industries in the region is to secure a doubled economic output of added-value industrial complexes and areas as well as knowledge-based research and developing activities, a step that guarantees the achievement of the three goals of development: a strong economic growth, industrial base diversification and creation of job opportunities.
He cited five pillars for success of transformative industries in our region as follows: building giant labs for refining and chemicals, linking the upstream and downstream industries, locating those utilities in the vicinity of major markets, the operational excellence through improving the cost and increasing the creditability, and use of advanced technology.
Source : Saudi News Agency
