Latest news with #factories
Arab News
a day ago
- Business
- Arab News
Industrial cities in Saudi Arabia's Qassim region hit 77% occupancy rate, official reveals
RIYADH: Industrial cities in Saudi Arabia's Qassim region are performing at occupancy rates of up to 77 percent, with 158 factories currently in operation, reflecting strong growth and a supportive business environment, according to a top official. During a meeting organized by the the area's chamber of commerce, the Kingdom's Deputy Minister of Industry and Mineral Resources for Industrial Affairs Khalil Ibrahim bin Salamah explained that the value of industrial investments in the region during the first quarter of 2025 reached SR700 million ($186 million), with the city of Buraydah accounting for the largest share, the Saudi Press Agency reported. This reflects the Kingdom's National Industrial Strategy, introduced in October 2022, which aims to increase the number of factories in the Kingdom to approximately 36,000 by 2035. This approach is designed to attract investment, scale up local production, and strengthen non-oil exports. The SPA statement said: 'The meeting aimed to introduce the most prominent ministerial services and programs and discuss the sector's aspirations to achieve continued growth in development and investment.' It added: 'The meeting addressed several topics related to the industrial sector, including standard incentives for the industrial sector, which enhance the competitive sustainability of the industrial sector in the Kingdom.' The statement further revealed that the assembly addressed the environmental impact of industrial facilities and presented solutions to help improve efficiency and quality. It also included a review and introduction to the Factories of the Future Program, as well as the process of converting these facilities to adopt modern manufacturing practices, automation, and digitization, which directly contribute to the development of the industrial sector in the Kingdom. The gathering also saw a review of the Industrial Links Program, which connects manufacturers with major projects to achieve the goals of the national strategy for increasing local content. The Qassim region experienced 25 percent growth in its business sector over the past seven years, reflecting increased economic activity and contributing to the Kingdom's goal of balanced development, the Ministry of Commerce reported in a post on its official X account in May. The number of commercial records in the central region rose from 68,000 in 2018 to 85,000 by the end of the first quarter of this year, the ministry said at the time. In 2024, Qassim Municipality announced that the region had successfully concluded 711 investment contracts, with a total value exceeding SR740 million. The municipality also provided 1050 diverse investment opportunities aimed at supporting economic development and enhancing the quality of life in the region. The increase comes as the Kingdom pushes ahead with its economic diversification strategy, aiming to increase the private sector's share of the gross domestic product from 40 percent to 65 percent by 2030.
CNA
12-06-2025
- Business
- CNA
Nvidia to build 20 AI factories in Europe
Nvidia is planning to build 20 artificial intelligence factories in Europe. Speaking at the VivaTech conference in Paris — Europe's largest start-up summit — chief executive Jensen Huang said the continent had "awakened" to the importance of AI factories. Ross Cullen reports.
Forbes
10-06-2025
- Business
- Forbes
Tariffs Alone Won't Bring Manufacturing Home—Here's What We Really Need
In 1961, President John F. Kennedy challenged America to land on the moon—and inspired a nation to rethink what was possible. That moonshot sparked a decade of unprecedented innovation and investment, laying the foundation for U.S. leadership in science, defense, and technology. Today, we're at a similar crossroads. But this time, the frontier isn't in space—it's in our factories. We talk about bringing manufacturing back—reindustrializing America and reducing our reliance on global supply chains. But talk isn't strategy. And neither are tariffs. Yes, deploying them can help U.S. manufacturers compete against the unfair, subsidized trade practices of other countries. But, with or without tariffs, we need to build factories, train workers, and encourage and deploy automation here in the U.S. That will take long-term investment, smart industrial policy, and institutions built to do this work. The Shrunken Manufacturing Sector American manufacturing remains a world juggernaut, number two in worldwide production—but we've hollowed out key capacity and we're struggling to rebuild with what's left. As U.S. manufacturing contracted from 25% of GDP in the 1950s to just 10% today, entire capabilities and supply chains disappeared. While some of that contraction is due to automation, between 1984 and 2018, the U.S. also lost 1,600 foundries and more than 4,400 metal casting facilities, most of that capacity moving to China. These aren't obscure components: cast and forged parts are essential to aircraft, infrastructure, energy systems, and defense. And it wasn't just metal—we pulled back from critical sectors like semiconductors, electronics, and pharmaceuticals, where pandemic-era shortages exposed just how vulnerable we'd become. Burdensome regulations, high taxes, labor costs, and poor trade policies have driven manufacturing overseas and drained some U. S. of manufacturing capabilities essential for our national security in a predatory global economy. Today, most U.S. manufacturers are small and undercapitalized—struggling to modernize operations, reconnect supply chains, and replace aging infrastructure. And we're running out of workers. By 2030, we'll be short more than 2 million manufacturing employees nationally. It's time we focus on U. S. manufacturing growth and technology—and fix global trade imbalances by rethinking the policies and problems that got us here. We aren't talking about plug-and-play reshoring. We're talking about a generational overhaul that will require real strategy and sustained investment to push the use of technology, drive the training of a needed workforce, fill abandoned and under-utilized U. S. plants, and build new ones. It's time to create a next-generation manufacturing Moves To Drive Our Next-Generation Manufacturing Economy Rhetoric won't rebuild capacity. But here are the kinds of decisive moves that could be the backbone of a truly bold industrial policy: 1. A Tariff to Technology Fund Turn tariff revenue into rocket fuel for innovation. A fixed percentage of every dollar brought in via tariffs should go directly to the small manufacturers they're meant to protect—funding robotics, AI, advanced equipment, and digital upskilling. Germany's Mittelstand model offers a blueprint, providing targeted funding, technical support, and long-term workforce development for small manufacturers. That's how Germany maintains a trade surplus and leads Europe in industrial automation. We should follow suit. 2. Rapid-Approval Manufacturing Zones Red tape kills momentum. Let's create 'Manufacturing Innovation Zones', with an emphasis on economically challenged communities. By fast-tracking permits in these areas, U. S. supply chains can flourish, and projects can go from blueprint to breaking ground in 90 days or less. When Austin and Phoenix cleared the way for semiconductor expansion, billions in private investment followed. That's a powerful model to replicate everywhere. 3. A National "Second Chance" Hiring Initiative Manufacturing urgently needs workers. The 600,000 people who leave the U.S. prison system each year need second chances. We should offer tax credits and training support to manufacturers that hire returning citizens. We should also provide 'negligent hiring and negligent supervision' tort waivers for manufacturing companies that hire ex-offenders, easing legal concerns. In Cleveland, my nonprofit MAGNET (an MEP Center) has helped hundreds of individuals move from incarceration to manufacturing careers—with very low recidivism. That's not just good economic development—it's smart public safety and fiscal responsibility. 4. A Manufacturing Renaissance Prize America thrives on competition. Let's launch a national prize for communities and companies to innovate extraordinary new business models and technology that enables reshoring and job creation. It's worked before. DARPA's Grand Challenges transformed autonomous vehicle development. XPRIZE catalyzed private space flight. A Manufacturing Renaissance Prize would turn breakthrough ideas into blueprints for industrial revival nationwide. With some imagination, this could become a Manhattan Project 2.0 where the country's best minds are rallied to solve the most pressing, world-changing Infrastructure To Deliver Dynamic Manufacturing Change Here's the good news: We already have the infrastructure to deliver on these big ideas. The Manufacturing Extension Partnership (MEP) is built for this moment, possessing the technical expertise and proven ROI needed to execute a new American industrial policy. It's the only national program dedicated to helping small and midsized manufacturers automate, innovate, and reshore production. After all, three out of four manufacturers in this country have less than 20 employees on the payroll. Yet earlier this year, the federal government tried to cut the program, telling lawmakers it no longer aligns with priorities. Future funding for MEP is still to be determined, but the timing couldn't be worse—now is the time to invest more in foundational programs that facilitate manufacturing growth, not less. If we're serious about rebuilding American manufacturing, we need a strong MEP network and further investments in programs like it. From Moonshots to Machinists: America's Next Great Leap Winning the future of manufacturing isn't about nostalgia. It's about courage. The courage to invest when it's hard. To retrain, retool, and reimagine what American industry can be. Tariffs won't do it alone. Neither will tax breaks. What we need is willpower—and a national commitment like the one that put footprints on the moon. Now is the time to reach deeper—into our communities, our capabilities, and our conviction to build what's next—for manufacturing and for America.
Arab News
09-06-2025
- General
- Arab News
At least five injured as fire engulfs multiple factories in Pakistan's Karachi
KARACHI: At least five persons were injured after a fire engulfed multiple factories in the southern Pakistani port city of Karachi, Rescue 1122 officials said on Sunday, with efforts underway to douse the blaze. The fire affected four factories, including YG Textile and MF Roomi Textile, at the Landhi Export Processing Zone, with 11 fire brigade trucks and one snorkel taking part in the firefighting operation. The operation was facing difficulties due to the intensity of smoke and shortage of water in the city of roughly 20 million people, according to rescue officials. 'Five people were injured after part of an affected building collapsed,' Rescue 1122 spokesperson Hasaan Khan told Arab News. 'The injured were shifted to the hospital.' The Rescue 1122 team is making efforts to control the blaze by utilizing all possible resources, Khan added. Karachi, Pakistan's largest city and commercial capital, is home to hundreds of thousands of industrial units and some of the tallest buildings in the South Asian country. The megapolis, known for its fragile firefighting system and poor safety controls, witnesses hundreds of fire incidents annually. In Nov. last year, a blaze at a shopping mall killed around a dozen people and injured several others. In April 2023, four firefighters died and nearly a dozen others were injured after a blaze erupted at a garment factory, while 10 people were killed in a massive fire at a chemical factory in the city in August 2021. In the deadliest such incident, 260 people were killed in 2012 after being trapped inside a garment factory when a fire broke out.
Arab News
08-06-2025
- General
- Arab News
At least one injured as fire guts multiple factories in Pakistan's Karachi
KARACHI: At least one person was injured after a fire gutted multiple factories in the southern Pakistani port city of Karachi, Rescue 1122 officials said on Sunday, with efforts underway to douse the blaze. The fire engulfed four factories, including Y G Textile and MF Roomi Textile, at the Landhi Export Processing Zone, with 11 fire brigade trucks and one snorkel taking part in the firefighting operation. The operation was facing difficulties due to the intensity of smoke and shortage of water in the city of roughly 20 million people, according to rescue officials. 'One person was injured after part of the affected buildings collapsed,' Rescue 1122 spokesperson Hasaan Khan told Arab News. The Rescue 1122 team is making efforts to control the blaze by utilizing all possible resources. Karachi, Pakistan's largest city and commercial capital, is home to hundreds of thousands of industrial units and some of the tallest buildings in the South Asian country. The megapolis, known for its fragile firefighting system and poor safety controls, witnesses hundreds of fire incidents annually. In Nov. last year, a blaze at a shopping mall killed around a dozen people and injured several others. In April 2023, four firefighters died and nearly a dozen others were injured after a blaze erupted at a garment factory, while 10 people were killed in a massive fire at a chemical factory in the city in August 2021. In the deadliest such incident, 260 people were killed in 2012 after being trapped inside a garment factory when a fire broke out.
