The Non-Oil Sector: The Industrialisation Process
John R. Presley and
A. J. Westaway
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John R. Presley: University of Loughborough
A. J. Westaway: University of Loughborough
Chapter 3 in A Guide to the Saudi Arabian Economy, 1989, pp 64-105 from Palgrave Macmillan
Abstract In the last chapter the rationale of developing the oil sector was outlined. Here the uses to which oil revenues are put will be explored in relation to their impact upon the industrialisation process in Saudi Arabia. Given a decision to industrialise, it then becomes necessary to select those industries most suitable to the endowments of the country. Significantly the Kingdom has a cheap energy source, and it seems logical to exploit this in industries requiring high energy input. What the country lacks, in the short run, is an adequate supply of skilled labour; therefore there is a further pressure to concentrate upon capital intensive production. With only a relatively small domestic population, Saudi Arabia must develop a competitive edge in world markets; it is imperative to concentrate on those sectors in which it has a comparative advantage.
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