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Saudi Arabia aims to be a key partner to solve shortage of mineral supply chains in the world

The Mining Investment Law and its executive regulations in the Kingdom is among the best in the world

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  • The Mining Investment Law and its executive regulations in the Kingdom is among the best in the world

ANKARA — The mining strategy in the Kingdom aims for Saudi Arabia to be a key partner in the world to solve shortage of mineral supply chains, Minister of Industry and Mineral Resources Bandar Al-Khorayef stated.

He said that the shortage comes as a result from the huge demand for critical minerals that are important in the electric vehicle industry, renewable energy, modern technologies, and the development of global societies.

Al-Khorayef made these remarks during a speech he delivered at the roundtable meeting for investors, organized by the Turkish DEIK organization in Istanbul.

The event witnessed the presence of a number of officials and businessmen to discuss ways to enhance the cooperation between Saudi Arabia and Türkiye.

The Mining Investment Law and its executive regulations in the Kingdom is among the best in the world, as Saudi Arabia has recently given a lot of attention to this sector.

This has been done in order to diversify the economic base and reduce dependence on oil, in addition to achieving the goals of the Kingdom’s Vision 2030.

Al-Khorayef has invited investors in Türkiye to participate in the Future Mineral Forum, that is being held annually in Riyadh.

Experts and mining leaders from different countries of the world gather in the Saudi capital to explore the opportunities in the emerging new minerals and metals hub in Africa, West and Central Asia.

The experts and mining leaders also discuss in the Future Mineral Forum aspects of cooperation in exploiting these opportunities in the mining sector.

This cooperation will lead to achieving social and economic development for the communities of this region.

The roundtable meeting witnessed a presentation on the national strategy for industry, including the most prominent goals that it is working to achieve.

This is in addition to presenting the investing opportunities in the industrial sector, especially what the strategy provides, which is worth nearly SR1 trillion.

The meeting concluded with an open discussion with investors, which focused on the advantages and capabilities that the Kingdom enjoys, and its ability to attract qualitative investments in the industrial and mining sectors.


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