COVID-19 crisis will serve Saudi industrial sector in the long term, says Alkhorayef

The coronavirus crisis despite its severity has led to gains that will serve Saudi Arabia’s industrial sector in the long term, Bandar Alkhorayef, Minister of Industry and Mineral Resources, said in a virtual meeting organized by Asharqia Chamber in Dammam.

The ministry is evaluating the challenges facing the industrial sector across the Kingdom.

The most important gains of the COVID-19 crisis were the revitalization of the healthcare and medical supplies industries in the Kingdom, the prioritization of having a strong local industry and building confidence in Saudi factories which have proven capable of meeting the needs of the Saudi market during the crisis, the minister added.

Moreover, the government initiatives helped address the challenge of cash flow for owners of industrial establishments. The cash flow disruptions were the biggest challenge to the Kingdom to continue production.

The global trading map and concepts will see radical changes on the coronavirus pandemic, which will reflect positively on local industries, Alkhorayef concluded.