plastics and packaging

The Kingdom of Saudi Arabia  is rich in oil and gas, the key natural resources used to manufacture petrochemicals products, the feedstock for plastics and packaging.

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Saudi Arabia has some 265 billion barrels of proven and recoverable oil, accounting for a fifth to a quarter of global oil reserves. It also has up to 258 trillion cubic feet of natural gas, giving Saudi Arabia the fourth-largest reserves in the world. The country's huge exports of oil and gas help to give it an annual current account surplus of $164.8 billion, or 23.3% of GDP.

The largest market in Middle East-North Africa (MENA), Saudi Arabia  also offers: easy, tariff-free access to Gulf Cooperation Council and Greater Arab Free Trade Area markets; access to over 400 million consumers in the wider MENA area; the abundant energy needed for large-scale production; and close industrial-academic ties.

Furthermore, Saudi Arabia offers significant government commitment, support and incentives. The Ministry of Commerce & Industry and Ministry of Petroleum and Minerals Resources are particularly closely involved, using its targeted Industrial Clusters program to develop the plastics and packaging sector.

Industrial Clusters aims to:

  • Make Saudi Arabia the service hub for consumer packaged goods (CPG) companies to export plastics and packaging worldwide
  • Encourage and support further Saudi Arabian and foreign investment in the sector
  • Reduce imports and increase exports
  • Create and sustain employment
  • Assist with national economic diversification

 

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