Saudi industry sector eyes investments, not limited to large corporates: Alkhorayef

The Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef

Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Alkhorayef, said the ministry is keen that the industry sector attracts investments and pioneers, and not limit it to large corporates, Saudi Press Agency reported.

The industrial sector is capable of adopting new technologies that help create opportunities in the sector and open the way for new investors, the minister said during his visit to the Monshaat Center in Al Madinah.

He also stressed the importance of the center in empowering small and medium enterprises (SMEs) and improving their performance, including those working within the industrial sector.

He pointed out that the ministry's goals for 2030 are based on three pillars, namely the volume of investments, exports, and job opportunities, adding that the industrial strategy is based on three axes: localization, natural resources, and creative future.

During the visit, the minister participated in a meeting to discuss industrial investment opportunities in Al Madinah, the ministry’s role in developing the industrial investment environment in the region, and its role in motivating youth to create an environment for entrepreneurship in addition to promising opportunities in the industrial sector.