SABIC stimulates innovation, jobs and overseas investment by helping develop Saudi Arabia’s downstream
“The petrochemical industry can serve as the cornerstone for industrial diversification into new market segments and industries, in accord with Saudi Arabia’s recently announced Vision 2030 plan,” he said.
Mr. Al-Fageeh was appearing on a panel discussing “Opportunities for Downstream Petrochemicals and Plastics.” The conference theme focused on “Localization, Innovation, and Partnership Opportunities for Industrial Development in Saudi Arabia.”
Through programs such as Local Content Development, the Home of Innovation™, the SABIC Plastics Application Development Center, the SABIC Academy and much more, SABIC seeks to help small-to-medium-sized businesses grow by improving their business management capabilities, provide them with market insights, and augment their technical knowledge and abilities.
“SABIC is in a unique position to deliver,” he said, “because it plays a major part across a variety of value chains -- regionally and globally.
“We have assets, products and innovations that address market trends and end-user needs across industries and regions. We have deep relationships with customers. We work closely with plastic machine manufacturers and with product designers worldwide.
“This positions SABIC uniquely to leverage into the Kingdom our global customer and market intimacy -- to deliver our strategy and create jobs in Saudi Arabia.”
He also emphasized the importance of partnership with overseas investors who wish to do business in Saudi Arabia.
“SABIC has deep experience working with partners from every region of the world,” he said, “from major multinationals to small manufacturers and suppliers.
“We are always looking for potential partners that we can work with for our mutual benefit and the benefit of the people of Saudi Arabia and the world.”