Saudi Minister of Industry and Mineral Resources: We are determined to develop the industrial sector ... and we seek to maximize the benefit from our natural resources
His Excellency the Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef, affirmed that there is a clear direction for rational leadership in empowering and supporting the industrial sector, which represents an important tributary of the goals of the Kingdom's 2030 vision, which aims in all its directions towards diversifying the economy and the well-being of citizens in various regions of the Kingdom, and is determined to develop Sector and achieve important leaps in the technologies of the Fourth Industrial Revolution.
His Excellency the Minister of Industry and Mineral Resources, during an open meeting with a number of investors, businessmen, entrepreneurs and youth in the Qassim region, explained that the industrial sector is living a golden age and witnessing continuous harmony among all sectors of the system that work to achieve one goal, which is to have the industrial sector. More attractive for investment than ever before, stressing that the ministry is working to direct the sector and enact policies and legislation that are ultimately aimed at achieving this goal.
Regarding his talk about the economic potentials that the Qassim region enjoys, Al-Khorayef stressed that what distinguishes the region is the spirit of challenge and passion of its people, in addition to its geographical location and its agricultural nature, which are advantages we are working to take advantage of in supporting entrepreneurs and women entrepreneurs and creating new industrial opportunities that enable small and medium enterprises. By entering into new investments that benefit the development of the region and contribute to the national economy.
His Excellency the Minister of Industry and Mineral Resources indicated that the ministry has a clear direction in empowering and supporting industrial investors through financing packages provided by the Industrial Fund. During the past year, nearly 212 loans were approved, with a total amount of about 17 billion riyals, which is an unprecedented number since the establishment of The fund, in addition to working to speed up procedures and prepare the infrastructure needed by the industrial sector through the Saudi Authority for Industrial Cities and Technology Zones "MODON".
Al-Khorayef stressed the ministry's intention to develop the industrial sector and create new industries based on innovation and digital technologies, in addition to developing performance, indicating that there are important paths that the ministry is working on, which is to complete building on the existing base and take advantage of natural resources and work to deepen the added value from them. In addition to the localization of locally consumed products by stimulating investment in the industrial sector to convert what we import into local production, and adopting the techniques of the Fourth Industrial Revolution to make important leaps in this promising sector.