Saudi Press

Saudi Arabia and the world
Sunday, Jun 01, 2025

Saudi Arabia to become a main player in global trade fields: Al Khorayef

The Minister of Industry and Mineral Resources Bandar Bin Ibrahim Al Khorayef has affirmed Saudi Arabia's plan to become a main player in the global trade fields through investing in several sectors.
Al Khorayef's affirmation came during participating in a panel discussion entitled “Regional Trade and Cooperation in a Fragmenting World" at the World Economic Forum's Growth Summit 2023.

At the event that is being held in Geneva, Switzerland, He also confirmed the Kingdom's commitment with economic diversification and sustainable growth.

He said that Saudi Arabia will invest in many sectors such manufacturing and mining, in addition to benefiting from several of the advantages that it enjoys such as the natural resources and its distinguished geographical location.

The minister has shed light during the panel discussion that the growth was driven previously in Saudi Arabia by oil resources, noting that this was before its Vision 2030, which targets to launch the capabilities to several promising sectors that would have a real value for the Saudi economy.

The Mining Investment Law provides several stimulants for investors in order to develop worthwhile investment opportunities in the sector Al Khorayef said.

Al Khorayef has also renewed his invitation to all the participants in the forum to attend the International Mining Conference that Saudi Arabia is hosting annually.

The conference is set to bring together representatives from more than 60 countries, such as industry and investment leaders, as well as academics and multi-stakeholder organizations.

It is noteworthy that the minister has announced, at the beginning of his visit to Switzerland, 50 investment opportunities worth over $25 billion (more than SR96 billion) in the industrial machinery and equipment sector in Saudi Arabia.

It would also include the manufacturing of valves and pumps, and to assemble industrial robots.

He said that the machinery sector has developed an investment opportunity that it is working on now with a potential investor to assemble its industrial robotic arms, which are in its initial stage as a step to develop the robotics industry in the Kingdom.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
×