Saudi needs unified approach to develop downstream sectors – CEO

YANBU, Saudi Arabia (ICIS)–Companies, government ministries and enterprises need to adopt a unified approach to successfully develop downstream industries in Saudi Arabia, the CEO of SABIC Mohammed Al-Mady said on Tuesday.

“We are opening up new areas of opportunities in the downstream value chain. [But,] we need a consolidated approach from companies, ministries and enterprises to grow downstream sectors,” Al-Mady said during the Saudi Downstream conference in Yanbu.

Al-Mady said stakeholders cannot operate independently and need to synergise their efforts to realise opportunities in downstream sectors.

“[Success] cannot be achieved if every company, industry or ministry is following its own agenda, no matter how well the agenda is,” Al-Mady added.

Al-Mady said the growth of downstream sectors is a “national economic priority” and expects SABIC to offer more differentiated products in future.

“[It is] a national economic priority to empower initiatives. SABIC wants to bring [its] business closer to customers and introduce more differentiated products and enter new markets,” Al-Mady said.

The conference ends on 5 March.