Saudi Arabia Rises to 23rd Globally on Fraser Institute’s Investment Attractiveness Index
Saudi Arabia’s mining sector has achieved a significant milestone, climbing from 104th place in 2013 to 23rd in 2024 on the Investment Attractiveness Index in the Fraser Institute’s 2024 Annual Survey of Mining Companies. This rise places the Kingdom ahead of notable mining destinations in Asia and Latin America, cementing its status as one of the fastest-rising powers in the global mining industry.
The Kingdom advanced from 82nd place in 2013 to 20th in 2024 on the Policy Perception Index, signaling growing international confidence in its regulatory stability.
Similarly, the Best Practices Mineral Potential Index surged from 58th in 2013 to 24th in 2024, highlighting Saudi Arabia’s vast untapped mineral wealth—boosted by large-scale geological surveys, new mineral discoveries, and highly attended mining licensing rounds.
Vision 2030 Driving Transformation
“This outstanding performance reflects the structural transformation and holistic efforts being driven across the mining and mineral sector under Vision 2030,” said Eng. Khalid Al-Mudaifer, Vice Minister of Industry and Mineral Resources for Mining Affairs.
In recent years, Saudi Arabia has created a globally competitive investment climate, backed by:
- Clear mining regulations
- Accessible geological data, including one of the most extensive Arabian Shield surveys
- Attractive investment incentives
- Advanced infrastructure
Mining, Economic Growth Engine
“Our focus remains on maximizing the economic value of our mineral resources, creating jobs for citizens, and localizing supply chains,” Al-Mudaifer added. “Mining is no longer a traditional sector—it is now a key driver of industrial and economic growth, and we are committed to sustainable, long-term success.”
The Fraser Institute credited Saudi Arabia’s rise to broad reforms covering security of tenure, taxation, environmental legislation, infrastructure, and community engagement.
For the first time, the Kingdom entered the top quartile of the index, with investors expressing zero concerns over political stability—one of its strongest advantages. The Mining Exploration Enablement Program was also recognized as a valuable tool for reducing investment risks and improving early-stage project confidence.
Exceptional Improvements in Key Indicators (2013–2024)
- Clarity & Effectiveness of Mining Administration: Up 305.8% from 17% to 69% — 11th globally
- Clarity of Land Use for Mining: Up 82.2% from 45% to 82% — 7th globally
- Labor Regulations: Up 102.2% from 45% to 91%
- Quality of Geological Databases: Up 81.8% from 33% to 60%
Vision 2030 Goals
The report praised Saudi Arabia’s stable regulatory framework and ambitious sector reforms, which have boosted global investor confidence and reinforced its standing as a world-class mining investment hub. This progress aligns directly with Vision 2030’s objective of diversifying the economy and advancing strategic sectors.
The Fraser Institute’s Annual Survey of Mining Companies is regarded as one of the most trusted global benchmarks for evaluating mining investment climates, used by investors, policymakers, and financial institutions worldwide.
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