Saudi Arabia explores several paths to develop industrial sector – Minister

Riyadh –  The Saudi Minister of Industry and Mineral Resources, Bandar Al Khorayef, affirmed on Tuesday that the Saudi industry enjoys high credibility in international markets, state-run Saudi Press Agency (SPA) reported.

The industry ministry is exploring several paths to develop the industrial sector, Al Khorayef said during his meeting with members of the Saudi Society for Opinion Writers.

The first path is to capitalise on the already-present advantages across a number of sectors whilst also developing and improving them.

 

The second track is to transform the local consumption from import to localisation and attract qualitative investments by benefiting from the distinguished geographical location, comprehensive infrastructure, and high purchasing power.

The third scenario is represented in obtaining the fourth industrial revolution’s related technologies, and finally looking forward to the future, when the kingdom becomes a hub for global industries.

On production, the minister revealed that nowadays, there are higher-quality Saudi products than other international competitors. The demand on these products, whether from national or international customers, is high.

He further remarked that the GCC state is moving forward to achieve the objectives of the Vision 2030, working on evaluating situations and addressing challenges.

 

Source: https://www.zawya.com/mena/en/business/story/Saudi_Arabia_explores_several_paths_to_develop_industrial_sector__Minister-SNG_187008398?utm_campaign=magnet&utm_source=article_page&utm_medium=recommended_articles

 

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