Saudi Arabia to become major player in global trade: Alkhorayef

Bandar Alkhorayef, Minister of Industry and Mineral Resources

Saudi Arabia is committed to economic diversification and sustainable growth, Bandar Alkhorayef, Minister of Industry and Mineral Resources, told a panel discussion during the World Economic Forum’s (WEF) Growth Summit in Geneva.
 

He added that the Kingdom seeks to become a major player in global trade, through investment in several sectors including industrial and mining, as well as leveraging its natural resources and distinguished geographical location.
 

The Kingdom's growth was driven by its oil resources before the launch of vision 2030, which targets several promising sectors that will have a real value for the Saudi economy.
 

The mining investment law provides several incentives to develop viable investment opportunities in the sector, the minister said, reiterating invitation to the WEF participants to attend the international mining conference hosted by the Kingdom every year. This event is attended by representatives of more than 60 countries, as well as leaders from the mining industry, academia, and multi-stakeholder organizations.
 

At the beginning of his visit to Switzerland, Alkhorayef announced 50 investment opportunities worth over $25 billion in the Kingdom's machinery and equipment sector.