Minister of Industry says delivery on Saudi industrial sector development ‘materializing’

Bandar Alkhorayef, Minister of Industry and Mineral Resources

Bandar Alkhorayef, Minister of Industry and Mineral Resources, said that the delivery on the development of the Saudi industrial sector is “materializing”, backed by clear laws and governance.

“Serious investors, who are close to understanding what is happening in the investment sector in general, and the industrial and mining sector in particular, can see today that these tools are sufficient for the growth of their investments,” Alkhorayef told Al-Arabiya TV.

These tools are sufficient for growing their investments in Saudi Arabia and allowing them various export opportunities worldwide.

“Today’s numbers are just the beginning. The efforts made under Vision 2030 set a clear basis for sectors growth,” the Saudi minister affirmed, noting that the localization strategy seeks not only to help the Kingdom manufacture its needs locally, but become a global export hub for many industries.

There is a clear roadmap for localizing medicines and medical equipment, Alkhorayef added, pointing to an integrated program to drive these industries through existing factories or attracting global players to the Kingdom.