Saudi Arabia sure to become key player in global supply chains: Alkhorayef

The Kingdom of Saudi Arabia is betting that it will be one of the major countries in the world to contribute to supply chains in general, said Minister of Industry and Mineral Resources, Bandar Alkhorayef.

During the fifth session of the Supply Chains and Logistics Services Conference, the minister indicated that, in addition to the Kingdom’s distinguished geographical location, which qualifies it to reach all countries of the world and allows it to provide the world with a lot of capabilities, there is its industrial strategy.

Alkhorayef also said that the industrial strategy is based on large and strong capabilities that make it more capable of being in harmony and maximizing economic benefit, so that it can benefit from the capabilities of the local market as well as the region’s market and be a major player in the world to supply many final or intermediate products, adding that this can only be achieved with the presence of strong logistical services and the study of supply chains and different value chains.

Furthermore, there is an initiative by the ministry to study 9,000 products in detail for all supply chains, and where the Kingdom can be a major player in these products through its location, whether from raw materials to conversion into some products that require energy or metals, said the minister.

In all the sectors identified by the industrial strategy, there is a clear program for ways for the Kingdom to participate in supply chains. In some sectors, such as petrochemicals, there is the ability to participate in most stages of the chain, while in the mining sector, the Kingdom has proven to the world that it is possible for one country alone to maximize the benefits in a way complete, he stated.

Alkhorayef further said that the Kingdom has successfully created the auto sector in a short period, adding that it is discussing with one of the major international automobile companies that has a large market share manufacturing its cars in the Kingdom.

Source : Argaam