Saudi Arabia’s oil sector is the single biggest engine for the kingdom’s economic growth; last year, high oil prices produced record oil export revenues of $106 billion. Moreover, the government’s focus on diversification has shown excellent results, with the non-oil private sector now representing 44% of the economy.

About two decades ago, the Saudi government embarked on an industrialization process aimed primarily at creating a petrochemicals export sector and building up energy-intensive industries, some for import substitution purposes and others to meet infrastructural needs. The process has developed steadily, with support from the government including the installation of the necessary infrastructure, the establishment of the Saudi Industrial Development Fund (SIDF), and the construction of industrial cities in Jubail, Yanbu and various other regions of the kingdom. Construction and telecom are two areas where growth has been substantial, supported by the general move towards market liberalization and privatization.

There are many successful Saudi firms in the non-oil sector, outstanding for the dedication and vision of their managers and directors. The Saudi Arabian Basic Industries Corporation (SABIC) is the Middle East’s largest non-oil industrial company and Saudi Arabia’s foremost petrochemicals firm, particularly in terms of sales and product diversity. Other companies making a name for themselves outside of oil include the Al-Tuwairqi Group, engaged in contracting and trading, Yanbu Cement, the Saudi Arabia Mining Company, and firms with links to the energy industry such as Argas or the Saudi Electricity Company.

What Saudi companies have in common is the desire to contribute to Saudi society and economic development by improving the skills of the workforce. There is a consistent effort in providing technical education and vocational, on-the-job training in order to satisfy the country’s need for specialized professionals.

Technology also plays a critical role; these companies are at the vanguard when it comes to utilizing the latest and most advanced equipment.