Saudi industrial sector offers huge opportunities, says minister
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef wants the business sector to take advantage of the huge opportunities the Kingdom has to offer as it seeks to diversify its sources of income by expanding its industrial base.
Speaking at the Sixth Riyadh Industrialists Council meeting organized by the Riyadh Chamber of Commerce, the minister said thanks to the government’s efforts the industrial sector has witnessed significant growth.
According to official statistics, the number of industrial units in Saudi Arabia has surpassed more than 10,000.
Alkhorayef said many opportunities are available in the Kingdom’s industrial sector and international companies are also taking keen interest in making investments in Saudi Arabia.
He went on to say that his ministry has identified key growth sectors and offered several incentives to encourage the private sector to come forward. The ministry is also working to help industrialists overcome global supply chain challenges.
Alkhorayef also highlighted the importance of the Industrialists Council, a platform where industrialists and other stakeholders can exchange opinions, proposals, aspirations and requirements in support of the national industry.
Abdullah Alkhorayef, a member of the board of directors and chairman of the Industrial Committee at the Riyadh Chamber, expressed confidence in the development the sector is witnessing and the incentives it is offering to increase competitiveness.
During an open session, the CEO of Saudi Export-Import Bank, Saad Al-Khalab, the deputy minister for industrial strategies and sectors at the Ministry Industry and Mineral Resources, Abdulaziz Al-Ahmadi and the CEO of the Saudi Export Development Authority, Abdulrahman Althukair, discussed the initiatives and projects that are being worked on in the Kingdom’s industrial sector.