Ceer steps up support for Saudi’s economy at the PIF Private Sector Forum
Ceer was out in full force at the first PIF Private Sector Forum to meet with the Kingdom’s businesses and discuss how they can work with the Kingdom’s first EV manufacturer to play a part in building the national automotive manufacturing sector. The forum encouraged opportunities for collaboration and investment partnerships between the private sector and PIF companies and projects. It hosted over 4,000 business heads and owners from various industries in the Kingdom on March 14-15.
A group of Ceer employees from functions including strategy, procurement and communications were on hand at the forum’s exhibition space to meet with Saudi-owned businesses to explain the nascent opportunities in the automotive manufacturing sector as well as share Ceer’s story on how the company is helping to ignite this industry.
Ceer was also present on stage during the first day of the event, for an industry-focused panel that aimed to explore how the automotive manufacturing sector will change the national economy. Speaking on behalf of Ceer, the company’s Head of Strategy and Initiatives Haytham Honjol explained why the private sector’s support matters.
“We are the first Saudi electric vehicle brand and as such we are passionate about encouraging and partnering with the country’s private sector to help build this new industry,” explained Honjol to audience. “In line with PIF’s 2021-2025 strategy, we are working to enable the private sector to realize opportunities to build a new national industry.”
A part of PIF’s strategy to diversify Saudi Arabia’s GDP growth by investing in promising growth industries, Ceer will attract over US$150 million of foreign direct investment, and create up to 30,000 direct and indirect jobs. Ceer is projected to directly contribute US$8 billion to Saudi Arabia’s GDP by 2034. Globally, the automotive sector contributes 3% to the gross domestic product and supports a wide range of industries, both upstream and downstream.
“The growth of a Saudi automotive industry is going to generate opportunities across a wide range of sectors, from the light and heavy industries that provide the minerals for EV batteries or the plastics and metals for bodywork and trim, to the tech-focused sectors that supply components for onboard systems. Today’s EVs are built on complex systems, including autonomous driving capabilities and internet-connected entertainment platforms that offer games and other multimedia content – there is huge potential for input providers in these areas,” concluded Honjol.
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