The Saudi Ministry of Industry and Mineral Resources has started evaluating the second group of factories as part of the “Future Factories Program.” This program aims to modernize the manufacturing sector and create a strong technological ecosystem in line with the Vision 2030 initiative to diversify the Saudi economy.
In this stage, 260 licensed factories will be assessed. These factories operate at different levels of technical development and have authorized capital exceeding $53.3 million. The evaluation will focus on verifying the self-assessment results of factories that have achieved a score of 2.14 on the Smart Industry Readiness Index (SIRI). The factories will be divided into two groups: advanced factories that have scored above 2 on the SIRI evaluation, and factories that need improvements in their manufacturing practices.
The audited SIRI evaluation plays a crucial role in increasing awareness among factory leaders and teams about the importance of adopting modern manufacturing practices. It also helps prioritize factory transformation and develop plans to reach the second level or higher on the SIRI, which can result in increased returns, profitability, and cost reduction.
Factories that don’t meet the specified stage in the evaluation will be eligible for incentives. These incentives aim to support factories in improving their performance and adopting technologies related to the Fourth Industrial Revolution.
The program consists of two main streams: the first stream focuses on designing and constructing new factories that meet high manufacturing and production efficiency standards, while the second stream targets existing factories, transforming them into facilities that adhere to exceptional operational standards and leverage advanced technologies.