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☆ Top U.S. Official Visits Israel as Allies Urge Limits on Rafah Incursion
▼ + stars: | 2024-05-19 | by ( Matthew Mpoke Bigg | ) www.nytimes.com time to read: +4 min

The United States has repeatedly called on Israel not to launch a full-scale invasion of Rafah, the southernmost city in Gaza. Earlier this month, President Biden said in an interview with CNN that the United States would not supply weapons for a major Israeli offensive in Rafah. Hamas said its fighters had fired on Israeli troops in eastern Rafah and close to the Rafah border crossing with Egypt. In the interim, tensions between the United States and Israel over the Rafah invasion and Israel’s conduct of the war have escalated. Mr. Sullivan is expected to try to advance the deal in his meeting with the Israeli leader.

Persons: Jake Sullivan, Benjamin Netanyahu, John Kirby, Sullivan, Netanyahu, Elizabeth Frantz, Biden, Lloyd Austin, Antony J, Blinken, Crown Prince Mohammed bin Salman, Prince Mohammed, Vivian Nereim Organizations: U.S, Sunday, United, White House, Washington . Credit, Reuters, CNN, Crown, Saudi Press Agency Locations: United States, Israel, Rafah, Gaza, Washington ., Egypt, Qatar, Saudi Arabia, Palestinian, U.S, Saudi

Since the war began, Saudi officials have returned to specific calls for a substantive Israeli-Palestinian peace process and for the creation of a Palestinian state with Jerusalem as its capital. Despite the escalating violence, it appears that American and Saudi officials are holding on to hopes of a normalization deal with Israel. Senators said they left Riyadh with the impression that Saudi leaders would still like to recognize Israel when the right moment arrives. Prince Mohammed launched a disastrous Saudi-led military intervention in Yemen in 2015 aiming to oust the Iran-backed Houthi rebels who nonetheless remain firmly in power there. It merely said that, although tensions persisted between Israel and the Palestinians, the Biden administration had “de-escalated crises in Gaza.”

Persons: Prince Faisal bin Farhan, Jordan —, Prince Mohammed, Houthi, Blumenthal, Israel “, Mr, Biden “, Jake Sullivan, “, Sullivan, Biden, ” Organizations: Saudi, Israel, Senators, State Department, U.S ., U.S, Foreign Affairs Locations: Bahrain, Egypt, Jordan, Iran, Israel, Saudi Arabia, Palestinian, Jerusalem, Saudi, Riyadh, Yemen, East, Washington, U.S, United States, Gaza

☆ Saudi Arabia, UAE leaders meet as Israel-Hamas war threatens to spill over
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

Saudi state news agency SPA showed footage of Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, receiving UAE President Mohammed bin Zayed Al Nahyan at Riyadh's airport. Public meetings between the crown prince and Sheikh Mohammed have been rare in recent years as the close allies competed for investment and regional influence. Sheikh Mohammed attended a summit between the Gulf Cooperation Council (GCC) and the Association of Southeast Asian Nations (ASEAN) in Riyadh on Friday, Saudi and UAE state media said. Last year, Prince Mohammed and Sheikh Mohammed met when Prince Mohammed visited Abu Dhabi to offer his condolences on the death of Sheikh Khalifa, the UAE's previous president. Sheikh Mohammed also visited Jeddah last year, and the two leaders met on the sidelines of the G20 summit in November.

Persons: Prince Mohamed bin Salman bin Abdulaziz, Crown Prince, Sheikh Mohamed bin Zayed Al Nahyan, Prince Mohammed bin Salman, Mohammed bin Zayed Al Nahyan, Sheikh Mohammed, Prince Mohammed, Abu, Sheikh Khalifa, Aziz El Yaakoubi, Kirsten Donovan Organizations: Defence, United Arab Emirates, Gulf Cooperation Council, Association of Southeast Asian Nations, ASEAN, GCC, Thomson Locations: RIYADH, SAUDI ARABIA, Saudi Arabia, Saudi, Israel, East, Riyadh's, Riyadh, UAE, Iran, Gaza, Abu Dhabi, Jeddah

CAIRO (AP) — U.S. Secretary of State Antony Blinken will return to Israel this week after completing a frantic six-country rush through Arab nations aimed at preventing the Israel-Hamas war from igniting a broader regional conflict. It was the last of Blinken's meetings with Arab leaders amid increasing fears that an impending Israeli ground offensive into Gaza could spark a wider war with devastating humanitarian consequences. In his talks with Arab leaders Blinken has stressed the importance of not allowing that to happen. The Arab leaders have also said the current situation cannot be resolved without an Israeli-Palestinian peace deal that gives the Palestinians an independent state. After the attacks, Blinken changed his plans so he could get to Israel quickly to show solidarity.

Persons: Antony Blinken, Israel —, Abdel Fattah al, Matthew Miller, ” Miller, Blinken, Saudi Crown Prince Mohammed bin Salman, Wang Yi, Joe Biden, Benjamin Netanyahu, Mahmoud Abbas, Israel, Prince Mohammed, “, ” Organizations: —, U.S . State Department, Saudi Crown, United Arab, Palestinian Authority, Foreign, U.S ., Saturday, Hezbollah, Israeli, Saudi, State Department, Saudi Press Agency Locations: CAIRO, Israel, Cairo, Gaza, Tel Aviv, Egypt, Riyadh, United Arab Emirates, Bahrain, Qatar, Jordan, Iran, Syria, States, Saudi, Saudi Arabia

☆ How Saudi Crown Prince Mohammed bin Salman went from pariah to pragmatic diplomat
▼ + stars: | 2023-10-07 | by ( Polly Thompson | ) www.businessinsider.com time to read: +10 min

Saudi Crown Prince Mohammed bin Salman is trying to transform the oil-rich Persian Gulf kingdom. AdvertisementAdvertisementSaudi Crown Prince Mohammed bin Salman is on a mission to transform his country. Billboards show portraits of Saudi Arabian Crown Prince Mohammed bin Salman (R) and his father and Saudi Arabia's King Salman bin Abdulaziz. US President Joe Biden (L) being welcomed by Saudi Arabian Crown Prince Mohammed bin Salman (R) at Alsalam Royal Palace in Jeddah, Saudi Arabia on July 15, 2022. President Joe Biden gives Saudi Crown Prince Mohammed bin Salman a handshake at the G20 summit this September.

Persons: Prince Mohammed bin Salman, he's, —, Prince Mohammed didn't, King Salman, Fahda bint Falah, Saud, Saudi Arabian Crown Prince Mohammed bin Salman, Saudi Arabia's King Salman bin Abdulaziz, AAMIR QURESHI, Muhammad bin Nayef, Prince Mohammed, Rash, Chris Doyle, GIUSEPPE CACACE, Doyle, he'd, Jamal Khashoggi, Emmanuel Macron, Joe Biden, Prince Mohammed a, Grant Shapps, Vladimir Putin's, Sanam Vakil, Biden, Evelyn Hockstein, Vakil, Duaa, Pierre Crom, Dhainy, Prince Organizations: Service, Saudi, King Saud University, Saudi Arabian Crown, Guardian, Ritz, Carlton, Council, Arab, CIA, Royal, Anadolu Agency, Bloomberg, Washington, Chatham House, Associated Press, Fox News, European Saudi Organization for Human Rights, MBS, United Nations, Getty Images, Human Rights Locations: Saudi, Saudi Arabia, Yemen, Riyadh, British, Istanbul, Jeddah, Ukraine, Iran, China, Israel, East, North Africa, Delhi, Neom, The Hague, Netherlands, Getty Images Saudi Arabia

☆ Saudi Arabia and the UAE are battling to become the Middle East's economic superpower
▼ + stars: | 2023-09-24 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +11 min

Saudi Arabia's crown prince is shaking up his economy in a move escalating its UAE rivalry. In March, Saudi Arabia unveiled Riyadh Air , a new airline serving as an alternative to the UAE's Emirates and Etihad Airways. If you want to do business with Saudi Arabia or Saudi state-owned entities, you've got to base your regional HQ in Saudi Arabia." "Saudi Arabia sees the separation project in Yemen as a way to let the Houthis control the north and therefore have a more-threatening border at the south of Saudi Arabia." Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERSHow far the rivalry between the two nations goes largely depends on Saudi Arabia's actions.

Persons: Saudi Arabia's, Mohammed bin Salman, Sheikh Mohamed bin Zayed Al Nahyan, MBZ, Obama, You've, Kristian Ulrichsen, Rice, Sheikh Mohamed, Prince Mohammed, Sheikh Mohamed —, —, Leon Neal, Shaybah, Ulrichsen, Sheikh Zayed, Sultan Al Nahyan, Abu, Prince Mohammed bin Salman, Neom, Abishur Prakash, Jorg Greuel, Abdullah Alaoudh, Prakash, you've, Saudi Crown Prince Mohammed, Ludovic Marin, Mohammed's, Jamal Khashoggi, Biden, Baker Institute's Ulrichsen, Alaoudh, wouldn't Organizations: United Arab Emirates, UAE, Service, Baker Institute, Saudi, UAE —, Qatar, Dubai, United, Freedom Initiative, UAE's Emirates, Etihad Airways, Saudi Public Investment Fund, Newcastle United FC, English Premier League, Manchester City, Saudi Crown, Getty, Ritz Carlton, Saudi Royal Court, REUTERS, Saudi Aramco, United Nations Locations: Saudi, Wall, Silicon, Saudi Arabia, East, Washington, London, UAE, Persian, Al Ain, British, Qatar, Abu Dhabi, United Arab, Riyadh, Manchester City . Saudi Arabia, New Delhi, Istanbul, Yemen, Iran, Saudi Arabia's, Bandar, Ukraine

NEW DELHI (AP) — The Saudi crown prince once vilified by President Joe Biden has been elevated from a fist bump to a hearty handshake. Biden smiled and shook hands with the crown prince, who is often referred to by his initials MBS, as the announcement wrapped up. The cordial greeting was a sharp contrast to the last time Biden and the crown prince met, just over a year ago, in Jeddah, Saudi Arabia. During that encounter, Biden awkwardly greeted the crown prince with a fist bump, a moment roundly criticized by human rights activists, who were already upset at Biden's decision to meet with the Saudi leader. Biden refused to speak to Prince Mohammed at the start of his administration.

Persons: Joe Biden, Biden, Mohammed bin Salman, Narendra Mod, Bin Salman, Jamal Khashoggi, Fred Ryan, year's Biden, Prince Mohammed, ” Khashoggi Organizations: DELHI, Group, MBS, Indian, The Washington Post Locations: Saudi, New Delhi, India, East, Europe, Jeddah, Saudi Arabia, U.S, Ukraine

DUBAI, United Arab Emirates (AP) — Saudi Arabia and Russia agreed Tuesday to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices. The decision “is aimed at strengthening the precautionary measures taken by OPEC+ countries in order to maintain stability and balance of oil markets,” Novak said. There was no immediate reaction in Washington, though U.S. lawmakers have criticized OPEC, Saudi Arabia and Russia over their past production decisions. The Saudi reduction, which began in July, comes as the other OPEC+ producers have agreed to extend earlier production cuts through next year. But Saudi Arabia also has to manage its relationship with Washington.

Persons: Joe Biden, Alexander Novak, ” Novak, Brent, Biden, Prince Mohammed bin Salman, Jamal Khashoggi, Prince Mohammed, Vladimir Putin Organizations: United Arab Emirates, Brent, Saudi Press Agency, OPEC, Energy Ministry, Benchmark Brent, AAA, Labor, Washington, Washington Post, U.S Locations: DUBAI, United Arab, Saudi Arabia, Russia, Riyadh, Moscow, Saudi, United States, Ukraine, Washington, U.S, China, Israel, America, Iran, India

☆ Vision 2030 is Saudi Arabia's grand plan to future-proof its oil-based economy. Experts say it's a huge risk.
▼ + stars: | 2023-08-27 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +9 min

Vision 2030 is Saudi Arabia's grand plan to transform its economy and reduce its reliance on oil. The centerpiece of Vision 2030 is Neom, which includes a $1 trillion megacity known as The Line. But time is ticking: Seven years after announcing Vision 2030, Saudi Arabia has reached the midway point of its timeline, with just seven years left to the finish line. That said, much of this is being financed by the Public Investment Fund, Saudi Arabia's powerful sovereign wealth fund, which manages assets worth about $700 billion. NeomA key factor that could determine this project's success involves Saudi Arabia's changing appeal to the West.

Persons: Saud, who's, Simon Mabon, Prince Mohammed Bin Salman, Saudi Crown Prince Mohammed bin Salman, McKinsey —, —, Gerald Feierstein, Barack Obama, Feierstein, Richard Callis, Prince Mohammed, Yasir Othman al, Mabon, Prince Mohammed's, there's, Muslimi, they're Organizations: Foreign Policy Center, Saudi Royal Court, REUTERS, Saudi Crown, McKinsey, Middle East Institute, Public Investment Fund, Saudi, SoftBank's Vision, Newcastle United soccer, Newcastle United FC, Saudi Aramco, International Monetary Fund, Chatham House, Neom, United, Bloomberg, Amnesty International Locations: Saudi, Dhahran, Saudi Arabia, London, NEOM, Bandar, Yemen, Ukraine, Riyadh, Jeddah, they're, United Arab Emirates, Neom

☆ Saudi Arabia buys Turkish drones during Erdogan's visit
▼ + stars: | 2023-07-18 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +3 min

Erdogan and Saudi Crown Prince Mohammed bin Salman attended the signing ceremony between Turkish defence firm Baykar and the Saudi defence ministry, Saudi state news agency SPA reported. Erdogan arrived in the Saudi Red Sea city of Jeddah on Monday for the first stop of a Gulf tour. Saudi Arabia will acquire the drones "with the aim of enhancing the readiness of the kingdom's armed forces and bolstering its defense and manufacturing capabilities," Defence Minister Prince Khalid bin Salman said in a tweet on Tuesday. SPA said Erdogan and Prince Mohammed attended the signing of a defense cooperation plan by Prince Khalid and Turkish Defence Minister Yasar Guler. Developing a local military industry has been part of an ambitious plan by Prince Mohammed to diversify the kingdom's economy away from oil.

Persons: Tayyip Erdogan, Erdogan, Saudi Crown Prince Mohammed bin Salman, Baykar, Prince Khalid bin Salman, Haluk Bayraktar, Jamal Khashoggi, Prince Mohammed, Prince Khalid, Yasar Guler, Cevdet Yilmaz, Mehmet Simsek, Sheikh Mohammed bin Zayed, Enas Alashray, Daren Butler, Jamie Freed, Lincoln, Tomasz Janowski, Bernadette Baum Organizations: Saudi Crown, Defence, Investments, United, United Arab Emirates, Turkish Defence, Turkish, Thomson Locations: RIYADH, Saudi Arabia, Saudi, Saudi Red Sea, Jeddah, Ankara, United Arab Emirates, Turkey, East, North Africa, Istanbul, Qatar, United Arab, Riyadh, UAE, Nahyan, Cairo

☆ Blinken heads to Saudi Arabia amid strained ties, Israel normalization in mind
▼ + stars: | 2023-06-06 | by ( Humeyra Pamuk | Thomson Reuters | Humeyra Pamuk Is A Senior Foreign Policy Correspondent Based In Washington Dc. She Covers The U.S. State Department | ) www.reuters.com time to read: +4 min

White House national security adviser Jake Sullivan traveled to Saudi Arabia on May 7. Speaking at the pro-Israel lobby group the American Israel Public Affairs Committee on Monday, Blinken said Washington had "a real national security interest" in advocating for the normalization of diplomatic relations between Israel and Saudi Arabia, but cautioned that it will not happen quickly. "[Blinken should explain] why Chinese interests do not align with Saudi Arabia, and why closer relations in a strategic way inhibit closer relations with Washington," Goldberg said. U.S. citizens and residents with family members detained in Saudi Arabia called on Blinken in a letter on Tuesday to press Saudi officials for an immediate release of their relatives. The list included prominent cleric Salman al-Odah, children of former spy chief Saad al-Jabri, human rights defender Mohammed al-Qahtani and aid worker Abdulrahman al-Sadhan.

Persons: Antony Blinken, Prince Mohammed bin Salman, Jake Sullivan, Blinken, Washington, Richard Goldberg, Goldberg, Joe Biden, Prince Mohammed, Jamal Khashoggi, Biden, Bashar al, Assad, Salman al, Saad al, Mohammed al, Abdulrahman, Arshad Mohammed, Simon Lewis, Aziz El Yaakoubi, Leslie Adler, Sharon Singleton Organizations: Saudi, White House, diplomat's, Israel, American Israel Public Affairs, Foundation for Defense of Democracies, MbS, Arab, U.S, Thomson Locations: Saudi Arabia, Riyadh, Iran, Jeddah, U.S, Israel, Saudi, Washington, Syria

☆ Biden is trying to lure Saudi Arabia's crown prince away from China with lucrative promises, despite once threatening to make him a 'pariah'
▼ + stars: | 2023-05-10 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

The US has replaced its threats with lucrative contracts for the crown prince as part of a high stakes power game being waged over dominance of the region. Biden last weekend dispatched his national security advisor, Jake Sullivan, to Saudi Arabia, for discussions with Saudi officials. Last year, Crown Prince Mohammed and Xi agreed to deepen their cooperation across a range of economic and security issues. Chinese President Xi Jinping holds talks with Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud at the royal palace in Riyadh, Saudi Arabia, Dec. 8, 2022. "It is important to note that Saudi Arabia is not seeking to burn its bridges with the United States.

☆ The Saudi crown prince wants to build a trillion-dollar utopia in the desert. His deals with China reveal a darker vision.
▼ + stars: | 2023-04-23 | by ( Tom Porter | ) www.businessinsider.com time to read: +9 min

It's part of Crown Prince Mohammed bin Salman's modernizing vision of the country. But behind the outlandish plan, developed by Saudi Arabia's powerful crown prince Mohammed bin Salman, is a much darker reality. Crown Prince Mohammed appears keen to replicate those projects on a grander scale. Saudi Crown Prince Mohammed Bin Salman announces a zero-carbon city called "The Line" to be built at NEOM in northwestern Saudi Arabia, January 10, 2021. It appeared to be the beginning of a fruitful partnership for Crown Prince Mohammed.

☆ Saudi Arabia and U.A.E. Clash Over Oil, Yemen as Rift Grows
▼ + stars: | 2023-03-03 | by ( Summer Said | Stephen Kalin | ) www.wsj.com time to read: 1 min

Middle East leaders at a regional event in January. DUBAI—When Abu Dhabi hosted a summit of Middle East leaders at a seaside palace in January, there was a glaring absence: Saudi Crown Prince Mohammed bin Salman . Prince Mohammed and U.A.E. President Sheikh Mohammed bin Zayed al Nahyan steered clear of each other’s events intentionally, Gulf officials said, even as the rulers of Jordan, Egypt, Qatar and others attended. The snubs exposed a growing rift between neighboring U.S. security partners that for years marched in lockstep on Middle East foreign policy.

Leaders of Arab League states spanning the Gulf, Levant and Africa began arriving in Riyadh on Thursday when Xi received a lavish reception by Prince Mohammed and signed a China-Saudi partnership pact with King Salman, demonstrating deepening ties. Oil giant Saudi Arabia is a top supplier to China and the joint statement reaffirmed the importance of global market stability and energy collaboration, while striving to boost non-oil trade and enhance cooperation in peaceful nuclear power. Xi invited King Salman to visit China, Saudi state television reported. Diplomats said the Chinese delegation would sign agreements and memoranda of understanding with several states in addition to Saudi Arabia, which inked an MOU with Huawei on cloud computing and building high-tech complexes in Saudi cities. The Chinese tech giant has participated in building 5G networks in most Gulf states despite U.S. concerns over a possible security risk in using its technology.

☆ China’s Xi Jinping Meets Saudi Crown Prince in Pivotal Visit
▼ + stars: | 2022-12-08 | by ( Stephen Kalin | ) www.wsj.com time to read: 1 min

Chinese President Xi Jinping arrived in Riyadh, Saudi Arabia on Wednesday for a visit set to strengthen ties between the two countries. RIYADH, Saudi Arabia—Chinese leader Xi Jinping met with Saudi leaders Thursday at the start of a multiday state visit, as the oil-rich desert kingdom strengthens ties with U.S. rivals amid doubts about Washington’s commitment to the Middle East. Crown Prince Mohammed bin Salman , who runs the kingdom’s daily affairs, greeted the Chinese leader with a handshake on arrival at Al Yamamah Palace, the seat of the Saudi monarchy. A Saudi honor guard welcomed Mr. Xi before Prince Mohammed accompanied him inside to meet his father, King Salman . The two sides are expected to sign some 20 initial agreements worth more than $29 billion total before attending a large gathering of Gulf and Arab leaders on Friday.

☆ Saudi Arabia Hosts China's Xi Jinping in Apparent Snub to White House
▼ + stars: | 2022-12-08 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Saudi Arabia is hosting China's President Xi Jinping at a lavish summit this week. This comes in the wake of a series of diplomatic spats between Saudi Arabia and the US. On Sunday, Saudi Arabia announced that it would be keeping the production cuts in place, but the country has also made diplomatic moves seemingly designed to placate the US. Saudi Arabia is China's main oil supplier, and this is an issue likely to feature prominently at the summit. Though Crown Prince Mohammed is seeking to steer a foreign policy less dependent on Washington, DC, it's unlikely either nation will want to significantly loosen ties any time soon, analysts say.

[1/2] Saudi Arabia Crown Prince and Prime Minister Mohammed bin Salman Al Saud arrives to attend the APEC Leader's Informal Dialogue with Guests during the APEC 2022 in Bangkok, Thailand, 18 November 2022. U.S. Secretary of State Antony Blinken said on Tuesday the immunity decision did not speak to a review of Washington's relationship with Saudi Arabia, which was ongoing. HISTORIC LOWSaudi ties with the United States and the wider West are still at a historic low point. When Saudi Arabia consequently took its security into its own hands with its war in Yemen, it saw Western criticism as hypocritical. Saudi Arabia would likely still prefer to have a U.S. security umbrella.

☆ U.S. moves to shield Saudi crown prince in killing of journalist Jamal Khashoggi
▼ + stars: | 2022-11-18 | by ( The Associated Press | ) www.nbcnews.com time to read: +6 min

The U.S. intelligence community concluded Saudi Arabia’s crown prince had approved the killing of the widely known and respected journalist, who had written critically of Prince Mohammed’s harsh ways of silencing of those he considered rivals or critics. The Biden administration statement Thursday noted visa restrictions and other penalties that it had meted out to lower-ranking Saudi officials in the death. Khashoggi’s fiancée, Hatice Cengiz, and DAWN sued the crown prince, his top aides and others in Washington federal court over their alleged roles in Khashoggi’s killing. Prince Mohammed serves as Saudi Arabia’s de facto ruler in the stead of his aged father, King Salman. The Saudi king in September also temporarily transferred his title of prime minister — a title normally held by the Saudi monarch — to Prince Mohammed.

☆ Saudi Arabia confirms crown prince won't attend Arab summit in Algeria
▼ + stars: | 2022-10-23 | by ( ) www.reuters.com time to read: +1 min

RIYADH, Oct 23 (Reuters) - Saudi Crown Prince Mohammed bin Salman will not travel to Algeria next month to attend a summit of the Arab League on medical advice, the royal court confirmed in a statement on state media on Sunday. Doctors had advised Prince Mohammed, 37, to avoid long-haul flights that might affect his middle ear, said the royal court. It has not previously stated that the Crown Prince, Saudi Arabia's de facto ruler, had ear problems. Foreign Minister Prince Faisal bin Farhan Al Saud will head the kingdom's delegation to the summit instead. The Algerian presidency said late on Saturday that Prince Mohammed would not attend the event to be held on Nov. 1 in Algiers in compliance with a medical recommendation to avoid travel.

☆ Saudi crown prince launches National Industrial Strategy
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

CAIRO, Oct 18 (Reuters) - Saudi Crown Prince Mohammed bin Salman on Tuesday launched the National Industrial Strategy, which aims to increase the industrial exports value to 557 billion riyals by 2030 ($148.34 billion), the country's state news agency, SPA, reported. The strategy is a plan to promote industry and attract investment in the kingdom's economy, leading to economic diversification and growth of non-oil exports and GDP. The strategy will also increase the total additional investments in the sector to 1.3 trillion riyals ($346.21 billion), the agency added. Register now for FREE unlimited access to Reuters.com Register"Through the National Industrial strategy and in partnership with the private sector, the kingdom will become a leading industrial powerhouse that contributes to securing global supply chains and exports high tech products to the world," the agency quoted Prince Mohammed as saying. The strategy also aims to increase factories in the kingdom from 10,640 at present to 36,000 by 2035, SPA said.

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