Alkhorayef: KSA Seeks to Attract 1 Trillion Riyals of Industrial Investments
Saudi Arabia seeks to attract industrial investments of about 1 trillion riyals ($ 266 billion) mostly targeting exporting to achieve one of Saudi Vision 2030 objectives of establishing KSA as a pioneering industrial country and a logistic platform, said the Minister of Industry and Mineral Resources Bandar Alkhorayef while inaugurating the “Made in Saudi” Exhibition.
The minister affirmed that KSA will proceed its achievements, especially after launching many strategies with National Industrial, exports and localization harmonious strategies at the top of the list to achieve the country’s ambitious national objectives, like attracting the 1-trillion-riyal industrial investments.
Made in Saudi Expo
Saudi Arabia is currently hosting the second edition of “Made in Saudi” Exhibition which will close its curtains on October 19.
The exhibition includes 100 Saudi companies from various sectors like petrochemicals, renewable energy, car manufacturing and others, giving a chance to display the Saudi products.
The exhibition is a chance for companies to display their work, advance their profiles and attract international investors.
On the sidelines of the exhibition, there are workshops and an accompanying conference with panel discussions on shaping the future, global leadership and empowering the industrial sector and promising industrial investments.
Allocating places for introducing services and programs in the industrial sector, the conference gives the visitors a chance to explore the opportunities in this sector. It displays major projects in the Kingdom, highlighting the national industries.
The exhibition is a celebration of the Kingdom’s achievements and of the Saudi- made products accessing many promising markets around the world and participating in the global competition.
“The Made in Saudi Program is not only a program for industry. It is a national program that includes all services and products with governmental sector, private sector and individuals all sharing a responsibility in it,” said Alkhorayef.
He pointed out that the Kingdom has a strong industrial base capable of facing challenges, thus increasing the success chances of the “Made in Saudi Arabia” program.
The Saudi-made products reach the highest quality standards with competitive prices in the kingdom and around the world.
Fostering Saudi Exports
Given KSA’s efforts to diversify its economy and the correlation between manufacturing and exporting, the ministry has been working on advancing the manufacturing sector to bolster exports.
“In 2022, the number of exporting companies reached 5,600 companies, with a total value of non-oil exporta amounting to SR314, reaching more than 170 countries, including the G20 countries,” Alkhorayef said.
Initiatives and services were strategically launched during the conference to contribute to Saudi Export Development Authority objectives.
The minister announced that Export Houses will be launched in this edition of the exhibition. Export Houses aims to help exporting companies by opening ways to global markets quickly and easily, providing services and creating connections between importers and exporters.
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