Industry ministry, Shura Council mull protection of local products from unfair competition

Bandar Alkhorayef, Minister of Industry and Mineral Resources

Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, discussed with the Shura Council's Economic and Energy Committee the challenges facing the industrial sector and possible solutions to develop the manufacturing chain into competitive industries.

During the virtual meeting, the minister also discussed raising the level of protection of local products from unfair competition with imported products.

The minister and the committee members also reviewed the mechanisms and frameworks to increase the participation of the private sector in developing technical regulations and specifications, Saudi Press Agency reported.

They discussed the means to strengthen the ministry's efforts in exploring opportunities of joint cooperation, locally and internationally, to encourage the development of industry and mineral wealth and enhance the image of the industrial and mining environment in the Kingdom.

During the meeting, they also examined increasing the impact of petrochemical plants.

In addition, they discussed increasing the level of utilization of these industries by converting them into direct-use products compared to locally produced quantities and the extent to which they benefit from the experiences of developed industrialized countries to boost existing and future industries in the Kingdom.

The meeting also discussed the ministry's annual report on the past fiscal year, particularly the organizational structure and national industry strategy and its integration with government sector policies.

They also reviewed the national industry development program, in addition to logistics and industrial enterprises, with the aim of building a flexible, sustainable and competitive industrial economy in which the private sector contributes effectively.