Ministry taking steps to expand Saudi industrial base, says Alkhorayef

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef on Monday said the ministry is taking all measures to boost the industrial and mining sector by introducing investor-friendly regulations and ensuring transparency in procedures.
He said the launch of the “Made in Saudi Arabia” program aims to promote local products, which are of high quality and conform to the Kingdom’s specifications and standards.
Alkhorayef said encouraging the local industries will have a huge impact on the local economy and in the long term, it will help the Saudi business community claim a greater share in the regional and global markets.
The minister said the Saudi industrial sector has proven its ability to deal with crises as is evident from its recent performance during the coronavirus disease (COVID-19) pandemic. He said the local industries successfully met the needs of the local consumers. The ministry, Alkhorayef said, is working to further develop different mechanisms to expand the Saudi industrial base.
The minister said the government wants to ensure the empowerment of the industrial sector by introducing reforms and offering incentives to help the local manufacturers boost their capabilities and work in a competitive and just environment.
He said the Ministry of Industry and Mineral Resources is working with the Ministry of Energy through the National Industrial Development and Logistics Program to stimulate the growth of the industrial sector in the Kingdom.