Latest news with #industrialproductivity
Arab News
23-06-2025
- Business
- Arab News
Digital transformation to boost Saudi industrial productivity by up to 25%, says Aramco CEO
RIYADH: Integrating digital technologies is set to increase Saudi Arabia's industrial productivity by 15 to 25 percent, according to Aramco President and CEO Amin Nasser. Speaking during the Saudi Industry Forum in Dhahran, Nasser stated that the Kingdom's shift into a new industrial era calls for an increased focus on digital transformation and the need to align it with proactive cybersecurity strategies. This comes as Saudi Arabia works to solidify its position as a regional and global digital powerhouse, backed by major advances in artificial intelligence, data centers, e-government, and human capital development. The Kingdom has emerged as the Middle East and North Africa's largest digital economy, with a market value exceeding SR495 billion ($131.9 billion) in 2024 — equivalent to 15 percent of its gross domestic product, according to figures from the Ministry of Communications and Information Technology. In his remarks, Nasser said: 'Preliminary estimates suggest that effective integration of digital technologies could increase Saudi Arabia's industrial productivity by 15 percent to 25 percent.' He added: 'Thanks to successive technological developments, industries will emerge over the next 10 years dominated by advanced technologies to a degree we have never seen before.' Nasser noted that the world is undergoing profound geopolitical shifts and intensifying competition across technological, industrial, and economic domains — trends that are accelerating the transformation of Saudi Arabia's industrial landscape. He emphasized the need to prepare for this future, particularly as the Kingdom continues to invest in artificial intelligence, the Internet of Things, robotics, and automation. These technologies, he explained, are aimed at more than just optimizing factory operations; they are vital for enhancing industrial productivity and ensuring operational reliability. 'At Aramco, we are working to establish a digital infrastructure that becomes an integral part of empowering the industrial sector,' Nasser said, adding: 'This includes the launch of Aramco Digital Company, as well as a 450 MHz private wireless network dedicated to industrial use by the private sector.' He continued: 'Aramco Digital has also introduced an edge artificial intelligence service — AI on the Edge — designed for critical industrial facilities and complex applications, such as crowd management during Hajj.' In the cybersecurity sphere, Aramco established Cyberani in 2021, a company focused on delivering industrial-grade solutions and software protection technologies. 'Aramco is working on projects to develop artificial intelligence platforms, data centers, and smart industrial complexes,' Nasser said. He warned of the risks accompanying digital advancement, stating: 'A technical malfunction or external interference through digital systems or control platforms could impact operations and disrupt the performance of industrial and economic facilities — especially those that do not invest sufficiently in digital protection.' Highlighting the human element in digital security, he stated: 'The most critical aspect of proactive protection systems is the development of human capabilities and deep expertise.' Nasser concluded by stressing the importance of localizing digital supply chains and enhancing technological resilience. 'Building future Saudi industries supported by flexible supply chains, competitive costs, and excellence in artificial intelligence is essential and highly important — but it is not enough unless it is accompanied by proactive investment in digital protection,' he said. The Saudi Industry Forum 2025, held from June 23–25 at the Dhahran International Exhibition Center, is sponsored by Eastern Province Governor Prince Saud bin Naif bin Abdulaziz. The event aims to elevate the Kingdom's industrial sector in alignment with Saudi Vision 2030, which seeks to diversify income sources and increase the sector's contribution to the gross domestic product.
Arab News
18-06-2025
- Business
- Arab News
Pakistan unveils draft tariff policy to drive export-led growth
ISLAMABAD: Pakistan on Wednesday unveiled a draft National Tariff Policy 2025-30 at a regulatory reforms conference, aiming to shift the country toward an export-led growth model by overhauling its trade tariff structure to boost industrial productivity, investment and competitiveness. The event was organized by the Board of Investment (BoI), and attended by senior government officials, diplomats and private sector representatives. The policy sets out sweeping reforms, including the phasing out of Additional Customs Duties (ACDs) within four years, elimination of Regulatory Duties (RDs) and the 5th Schedule within five years, and the creation of a simplified four-tier Customs Duty structure of 0 percent, 5 percent, 10 percent and 15 percent. Key sectors expected to benefit include textiles, engineering, pharmaceuticals and information technology, with the policy designed to lower production costs and attract businesses. 'The National Tariff Policy 2025-30 is designed to create a predictable, transparent and investment-friendly tariff structure,' said Rana Ihsaan Afzal, Coordinator to the Prime Minister on Commerce, at the conference. 'By facilitating duty-free access to raw materials, phasing out ACDs and RDs and supporting nascent and green industries, this policy paves the way for innovation, employment generation and sustained economic growth.' Afzal said implementation will begin with tariff reductions on approximately 7,000 tariff lines, mainly raw materials and intermediate goods, expected to deliver an estimated Rs200 billion ($700 million) in benefits to trade and industry. 'These reforms will enable Pakistan's industries to scale, compete globally and shift toward higher value-added exports,' he added. 'With these changes, we anticipate not just stronger GDP growth, but also increased employment, improved industrial productivity and enhanced investor confidence.' According to an official statement issued by the BoI, the participants lauded the government's efforts to streamline regulation and modernize trade facilitation, calling the draft policy a significant step toward Pakistan's long-term economic transformation.
