Capitals of the Saudi productive factories grew four-folds in 12 years to reach SR992 billion by the end of January of the current year compared to SR268 billion by the end of 2003, according to data released by the Ministry of Commerce and Industry.
The Eastern Region captured nearly two-thirds of the factories’ capitals (61 percent), or SR607.7 billion despite the fact the region’s factories are not exceeding 23 percent of the total number of productive factories Kingdomwide, which stands at 6,789, a report analyzed by Al-Eqtisadiah daily said.
On the other hand, the number of workers in the productive factories reached 931,133 by the end of January. The number of factories, which have not yet entered into production stages stood at 1,123 with their capitals exceeding SR37.5 billion, the report said.
According to the report, the Makkah, Riyadh and Eastern regions registered the highest rates in terms of the number of factories at 43 percent, 23 percent and 19 percent, respectively. In terms of work force, the Riyadh Region captured the highest at 39 percent, followed by the Eastern and Makkah regions at 26 percent and 23 percent, respectively, the report said.
In terms of funding (capitals), the Eastern Region was the highest at 61 percent (SR607.7 billion), followed by the Makkah Region at 14 percent (SR135.7 billion) and Riyadh at 12 percent (SR117 billion), the report said.
In regards to the number of productive factories, the Riyadh Region has the biggest at 2,911, followed by the Eastern Region at 1,560, Makkah at 1,270, Asir at 246 (SR4.3 billion), Madinah at 209 (SR89.7 billion), Jazan at 66 (SR4.6 billion), Tabuk at 60 (SR2.5 billion), Hail at 56 (SR11.5 billion), Al-Jouf at 53 (SR939 million), Najran at 34 (SR2.8 billion), the Northern Border at 29 (SR2.8 billion), and Baha at 16 (SR63 million), the report said.
Factories not having entered into production stages stood at 1,123 with their capitals exceeding SR37.5 billion. The Riyadh Region has the biggest number at 508 with capitals standing at SR8.2 billion, followed by Makkah at 169 (SR13.2 billion), the Eastern Region at 161 (SR5.3 billion), Madinah at 70 (SR6 billion), and Asir at 70 (SR743 million), the report said.
Capital of Saudi productive factories exceeds SR992bn
Capital of Saudi productive factories exceeds SR992bn
‘The age of electricity’: WEF panel says geopolitics is redefining global energy security
- Surging demand, critical minerals, US-China rivalry reshaping energy security as nations compete for influence, infrastructure, control over world’s energy future
LONDON: Electricity is rapidly replacing oil as the world’s most strategic energy commodity, and nations are racing to secure reliable supply and influence in a changing energy landscape.
Global electricity demand is growing nearly three times faster than overall energy consumption, driven by artificial intelligence, electric vehicles, and rising use of air-conditioning in a warming world.
“We are entering the age of electricity,” said Fatih Birol, the executive director of the International Energy Agency, during a panel discussion titled “Who is Winning on Energy Security?” at the World Economic Forum in Davos on Tuesday.
Unlike oil, electricity cannot be stockpiled at scale, forcing governments and companies to prioritize generation, transmission, and storage, making regions with stable infrastructure increasingly important on the global stage.
US-China rivalry
Energy security is increasingly about control and influence, not just supply. The rivalry between the US and China now extends beyond oil to critical minerals, energy infrastructure, and long-term energy partnerships.
“The contrast between the US approach and China’s is stark,” said Meghan O’Sullivan, director of Harvard University’s Belfer Center. “The US, until recently, focused on access, not control. China flips that, seeking long-term influence and making producers more dependent on them.”
O’Sullivan highlighted China’s Belt and Road Initiative, which invests in energy infrastructure and critical minerals across Africa, Latin America, and Asia to secure influence over production and supply chains.
“It’s not just the desire to control oil production itself, but to control who develops resources,” she said, citing Venezuela as an example. The South American nation holds some of the world’s largest crude oil reserves, giving it outsized geopolitical importance. Recent US moves to expand influence over Venezuelan oil flows illustrate the broader trend that great powers are competing to shape who benefits from energy resources, not just the resources themselves.
“There’s no question that the intensified geopolitical competition between great powers is playing out in more competition for energy resources, particularly as the energy system becomes more complex,” O’Sullivan added.
Global drivers of the electricity era
The rise of electricity as a strategic commodity is also transforming global supply chains. Copper, lithium, and other minerals have become essential to modern energy systems.
“A new ‘energy commodity’ is copper,” said Mike Henry, CEO of BHP. “Electricity demand is growing three times faster than primary energy, and copper is essential for wires, data centers, and renewable energy. We expect a near doubling, about a 70 percent increase in copper demand over 25 years.”
Yet deposits are harder to access, refining is concentrated in a few countries, and supply chains are politically exposed.
“The world’s ability to generate electricity reliably will increasingly depend on materials and infrastructure outside traditional oil and gas markets,” Birol said.
AI and digital technologies amplify the challenge with large-scale data centers consuming enormous amounts of electricity.
The Middle East’s strategic relevance
While the global focus is on electricity demand and great-power rivalry, the Middle East illustrates how traditional energy hubs are adapting.
Majid Jafar, the CEO of Crescent Petroleum, highlighted the region’s enduring advantages: abundant reserves, low-carbon potential, and strategic geography.
“Geopolitical instability reinforces, if anything, the Middle East’s role as a supplier with scale, affordability, availability, and some of the lowest carbon reserves,” he said.
Jafar emphasized the region’s ability to navigate the growing US-China rivalry.
“Amid US-China global friction, the Middle East has managed to remain on good terms with both sides,” he said, noting that flexible policy and engagement help preserve influence while balancing competing interests.
The region is also adapting to the electricity-driven era. AI data centers and digital technologies are multiplying power needs. Jafar said: “One minute of video consumes roughly an hour’s electricity for an average Western household. Multiply that across millions of servers and billions of people and the scale is staggering.”
Infrastructure investments further strengthen the Middle East’s strategic position. In the Kurdistan Region of Iraq, the Runaki Project has expanded natural gas–fueled power plants to provide 24/7 electricity to millions of residents and businesses, reducing reliance on diesel generators and supporting economic growth.
According to Jafar, the combination of energy resources, capital, leadership, and agile policymaking gives the Middle East a competitive edge in meeting global electricity demand and navigating the complex geopolitics of energy.
While the panel highlighted the Middle East as one example, in the age of electricity, energy security is defined as much by influence and infrastructure as by barrels of oil, with the US-China rivalry determining who gains and who is left behind.
