Skip to content Skip to Search
Skip navigation

Saudi Crown Prince unveils strategy for Northern Borders

Crown Prince Mohammed bin Salman, pictured at the Formula E race in Diriyah, announced the plan on Monday Saudi Press Agency/Handout via Reuters
Crown Prince Mohammed bin Salman, pictured at the Formula E race in Diriyah, announced the plan on Monday

Crown Prince Mohammed bin Salman has unveiled a plan to drive economic expansion in Saudi’s Northern Borders region.

The strategic office for the Northern Borders, announced on Monday, aims to increase development across the region, which is an emerging metals and chemicals hub, and take advantage of its location next to Jordan and Iraq.

The organisation will launch initiatives and projects that “contribute to creating an attractive investment environment”, said the state-run Saudi Press Agency, with a view to creating employment opportunities that boost the kingdom’s sustainable development goals. 

It will also be tasked with coordinating government efforts to make best use of the region’s natural resources in the region.

Supported by a reliable rail and road network, the Northern Borders is key to bringing metals and chemical products to national and international markets. 

The region has large phosphate reserves and is home to two high-production-capacity industrial cities. One of these is Wa’ad Al Shamal, the kingdom’s biggest phosphate and chemical production site. 

The office is the latest move in the government strategy to support economic growth in the kingdom. Saudi Arabia, the region’s largest economy and top crude oil exporter, is forecast to grow 3.4 percent this year and 3.1 percent in 2024, according to economists polled by Reuters. They predict that it will slightly outperform the Middle East as a whole.

Saudi’s GDP expanded by 8.7 percent in 2022, according to the General Authority for Statistics.

The Northern Borders region, which spans an area of 133,000 sq km, is home to about 400,000 people and currently contributes SR27 billion ($7.2 billion) to the kingdom’s GDP.

It has three airports, 44 active factories and 14 hotels, and the Renewable Energy Project Development Office has identified a site in the region with potential for a sun energy development.

Latest articles

FILE PHOTO: United Arab Emirates Minister of State for Foreign Trade Thani Al Zeyoudi gestures during an interview with Reuters in Dubai, United Arab Emirates, June 30, 2022. REUTERS/Abdel Hadi Ramahi/File Photo

UAE and Kenya complete Cepa negotiations

The UAE and Kenya have completed negotiations on a comprehensive economic partnership agreement (Cepa) between the two countries. It is the 12th Cepa deal secured by the UAE and its third in Africa, after agreements were signed last year with Mauritius and the Republic of the Congo (Congo-Brazzaville). “The UAE-Kenya Cepa will not only boost […]

Adnoc has bid for German polymer manufacturer Covestro but its offers €55 and €57 per share were rejected

Adnoc faces hurdles in completing ambitious European deals

Abu Dhabi state oil company Adnoc is facing challenges to a duo of major European deals it is trying to get over the finish line, according to media reports. Talks with Austrian energy group OMV have been put on hold to allow parties to navigate a series of disagreements, the Financial Times reported on Friday. […]

The 450 companies operating at Dubai Science Park include AstraZeneca, and the free zone plans to add 200,000 sq ft of lab and office space

Dubai Science Park reveals expansion plans

Dubai’s biotechnology free zone is adding 60 percent more offices, laboratories and warehouses over the next few years to cater for an influx of new companies, its senior vice-president told AGBI.  Dubai Science Park, part of Dubai-listed Tecom Group, is planning an expansion of 200,000 sq ft of additional storage and logistics facilities at the […]

A worker at a phosphate production plant in Metlaoui, Tunisia. Phosphate accounts for 15% of Tunisia's exports

Saudi Arabia loans $55m for Tunisian rail renewal

Saudi Arabia has signed a $55 million loan deal with Tunisia to finance the renewal of the North African country’s rail network.  The railway is used to transport phosphate, a sector that makes up around 4 percent of Tunisia’s GDP and 15 percent of the country’s exports. Tunisia plans to produce eight million tonnes by […]