Saudi Arabia seeks to localize over 400 products, says AlKhorayef

Bandar AlKhorayef, Minister of Industry and Mineral Resources

Saudi Arabia has an ambitious localization strategy that will be announced soon, said Bandar AlKhorayef, Minister of Industry and Mineral Resources.

He added that more than 400 national products were picked for localization.  

The Kingdom will also announce a complete strategy in the field of energy and renewable energy, which will have a significant impact on the industrial sector, AlKhorayef noted. 

During the panel discussions of launching the National Industrial Strategy, the minister said the Kingdom currently has a strong industrial base. "We have great ambitions for this sector," he noted.

The launch of the National Industrial Strategy means paving the way for the private sector and investors to achieve their goals, and making all parties know what the government will achieve in each step.

Crown Prince Mohammed bin Salman launched, on Oct. 18, the National Industrial Strategy, after it was approved by the Saudi Cabinet, according to data available with Argaam.