SINGAPORE - Saudi Arabia is adopting a key manufacturing assessment index first developed in Singapore as part of its multibillion-dollar industrial transformation drive.

The Smart Industry Readiness Index (Siri) - created here in partnership with a network of leading technology companies, consultancy firms, and industry and academic experts - is the world's first independent digital maturity assessment for manufacturing companies.

The index is administered by the Singapore-based International Centre for Industrial Transformation (Incit), which was set up in 2021.

Saudi Arabia's National Industrial Development and Logistics Program (NIDLP) announced the adoption of the index on Friday (June 24) at a signing ceremony with Incit at Swissotel The Stamford in Singapore.

The move is part of its mandate to transform the country into a leading industrial powerhouse and a global logistics hub by maximising the value of its mining and energy sectors.

The plan is part of Vision 2030, which was launched by Crown Prince Mohammed bin Salman five years ago to end its dependence on fossil fuels.

NIDLP chief executive Suliman Almazroua said: "The partnership will see the opening of a training and certification centre in which the Smart Industry Readiness Index - Assessor training courses and examinations are designed to develop a deep understanding and prioritisation framework. The framework will increase awareness and set aspirations for manufacturers in digital transformation.

Mr Raimund Klein, founder and chief executive of Incit, said the collaboration will bring guided digital transformative growth to the manufacturing sector in Saudi Arabia.

"There are many different industrial segments in Saudi Arabia, such as the manufacturing of mechanical equipment, metal and mining, as well as processing of oil and gas and food and beverages," he noted.

"This makes Saudi Arabia an important market, especially after Covid where the disruption of the supply chain will create a new normal. After the great reset, this will be led by countries focusing on the speed of the digital transformation of their manufacturing industry."

Mr Majid Algwaiz, general manager of the General Administration of Manufacturing at the Saudi Ministry of Industry and Mineral Resources, said: "Singapore focuses on high value-adding industries, and I think Saudi Arabia should try to learn and maybe mimic some of the practices here. I hope we can find more grounds for collaboration with Singapore."