Minister of Industry: 30 Bln Riyals in Export-Import Bank Portfolio, Largest Growth from Export Insurance
The Minister of Industry and Mineral Resources Bandar Al-Khorayef stated that export activity has contributed to the growth of the steps previously taken by the Kingdom during the pandemic. He noted that the Export-Import Bank’s portfolio today amounts to around 30 billion riyals, highlighting that the largest growth comes from the export insurance sector. This indicates there are multipliers and effective utilization of capital.
Al-Khorayef added during the 2025 Budget Forum that the Kingdom is the largest country to have spent on geological surveys in recent years, in addition to mining and exploration licenses granted to the private sector. “This has contributed to increasing our estimates of natural mineral wealth to more than 2.5 trillion riyals.”
Regarding the issuance of mining licenses, Al-Khorayef stated that in advanced mining countries, licenses sometimes take up to 8 years or more.
“However, in the Kingdom, we commit to investors that the process will take less than 6 months, and soon we aim to reduce this period to just 90 days.”
Related Topics :
Saudi Arabia Makes Significant Leap in World Bank’s SPI
Korea’s Export-Import Bank Establishes Saudi Arabia Office
Saudi Export-Import Bank Signs Agreement with Arab National Bank
Kafalah Cooperates with Saudi Export-Import Bank in Export Sector
