Saudi mining sector promising for foreign, local investors: Minister

Saudi Arabia’s mining industryboasts competitive advantages that make it a promising sector for foreign and local investors, Minister of Industry and Mineral Resources, Bandar Alkhorayef, saidat Saudi Night event in Las Vegas to introduce the Kingdom’s heritage, history, development programs and the Vision 2030 programs, and showcase mining opportunities.

These advantages include a stimulating and stable regulatory and legislative investment environment, abundant mineral resources, special economic zones, and streamlined procedures and licensing. Additionally, a range of enablers and incentives are provided by the Ministry of Industry and Mineral Resources for mining investors.

The Kingdom is undergoing a comprehensive development renaissance based on Vision 2030, which aims to achieve a broad economic transformation by diversifying income sources without relying solely on oil. This vision also seeks to attract investments, increase sustainable growth rates, and improve the quality of life for citizens, with the private sector playing a key role in achieving these objectives.

Alkhorayef explained that the industrial and mining sectors are among the most prominent sectors supporting the Kingdom’s economic transformation by optimizing the use of natural resources, fostering innovation, and enhancing the investment environment, all contributing to building a diverse and sustainable economy.