Saudi National Industrial Cluster Development Program signs memorandum with Toyota

The Saudi National Industrial Cluster Development Program (NICDP) recently signed a memorandum of understanding (MoU) with Toyota Motor Corporation for a feasibility study of an industrial project to produce vehicles and parts in the kingdom.
 
The MoU, signed in Tokyo during a visit by King Salman bin Abdulaziz, custodian of the Two Holy Mosques, is part of NICDP’s plans for growing the country’s automotive industry to compete globally.
 
The study will evaluate the development of a local supply base that would use materials produced by major Saudi companies like Sabic, Maaden, Petro Rabigh and other major industrial companies. Also of note in the study would be an examination of how to attract talented Saudi workers and provide them with adequate training programs.
 
Toyota is the market leader in Saudi Arabia and other Gulf Cooperation Council (GCC) car markets. The company sold 500,000 vehicles in 2016 in the GCC.

Organizations in this story

Royal Embassy of Saudi Arabia 601 New Hampshire Ave NW, Washington, DC 20037 ,

Toyota Motor Corporation 1 Toyota-Cho, Toyota City, Aichi Prefecture 471-8571, Japan ,

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