Industry, mining sectors offer enormous opportunities, says Alkhorayef

Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef

Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, said that Industry and mining sectors offer enormous opportunities, especially as the Kingdom’s ambitions go beyond the local market.  

The ministry is aware of the growth targets in these sectors, he said.    

Sectors were carefully chosen in the National Industry Strategy (NIS), Alkhorayef said at the "Saudi Arabia’s Transformation in a Changing Global Context" panel discussion during the World Economic Forum (WEF).  

The minister indicated that they have a competitive advantage will either allow them to grow very fast, or create an important part of the Saudi resilience, like food security or pharmaceuticals.    

The NIS objectives would be achieved through technology and an ecosystem, such as regulations and bringing the private sector to invest in the right technologies. Alkhorayef concluded that Saudi Arabia bets on its human capital wealth and their ability to engage in new technologies.