Saudi Exports launches new strategy to promote non-oil exports

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The Saudi Export Development Authority (Saudi Exports) launched the institutional transformation strategy, through which it aims to move to a new stage to be in line with the objectives of Vision 2030, while integrating with a number of relevant government agencies in diversifying the local economy by promoting Saudi non-oil exports.

The authority said that its new strategy will seek to raise the value of non-oil exports from 16% to no less than 50% of non-oil GDP by 2030, Saudi Press Agency reported.

Saudi Exports' Secretary General, Faisal Al-Bedah, said that the authority's institutional transformation is aimed to achieve a real partnership with the private sector, in line with Vision 2030, and with exporters in particular, by improving the export environment, developing the capabilities of exporters, improving their competitiveness in the markets, and raising their readiness to overcome global challenges.

The Kingdom's non-oil exports rose to their highest level in their history during the period from January to September 2021, recording SAR 194.7 billion, compared to SAR 145.6 billion during the same period in 2020, according to Argaam data.