How to Achieve Economic Prosperity Through Industrial Energy Productivity Improvement
About the Project
KAPSARC and ERI are working together to prepare a joint report comprising of a comparative review of the status of energy productivity and associated policies in Saudi Arabia and China. The review will assess the current status and future plans of industrial development, with a focus on energy efficiency, and discuss the policy practices that might be relevant and valuable for the Kingdom drawing on China’s experiences. This study aims to inform activities and deeper collaboration under China’s One Belt One Road Initiative, which is supported by the Kingdom and aligns with investment priorities as part of Saudi Arabia’s Vision 2030.
The King Abdullah Petroleum Studies and Research Center (KAPSARC) and the Energy Research Institute (ERI) of China’s National Development and Reform Commission (NDRC) have initiated a joint study into how industrial energy productivity can improve economic prosperity. This study comes at a time of deeper bilateral cooperation under President Xi Jing Ping’s One Belt One Road Initiative and aims to increase understanding of key policies and driving forces around industrial strategy and energy use in Saudi Arabia and China.
Enhancing industrial energy productivity through energy efficiency and diversification has multiple benefits including supporting competitiveness and higher quality jobs while reducing the environmental impact of production.
China has enormous experience capturing these benefits through its system of national energy intensity targets, industrial energy efficiency benchmarks and energy price reform
The Kingdom has set out ambitious plans in its Saudi Vision 2030 to reduce the economy’s reliance on oil through a program of privatization, diversification, renewable energy, energy efficiency and energy price reform among other initiatives.
Greater efforts to share international experiences in energy productivity can play an important role in supporting investment conditions aimed at achieving economic transformation and sustainable development goals.
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