Minister of Industry and Mineral Resources Bandar Al-Khorayef revealed that Saudi non-oil products had reached 178 countries worldwide.
During a meeting organized by the Hail Chamber with several investors and business people, he explained that the Kingdom has worked on developing the industrial sector since the seventies. The first development programs had an essential role in agriculture, construction, building and others.
He pointed out that after what the Kingdom achieved in the first 45 years, there is an urgent need to move the economy to a new stage. Therefore Vision 2030 was launched under the Crown Prince’s leadership, which aims to diversify the Kingdom’s economy and sources of income.
One of the most critical sectors on which the vision depends is industry and mining. He pointed out that there is a clear strategy for each region by taking advantage of the components and comparative advantage.
He said that Vision 2030 focused on providing straightforward programs to support the targeted sectors, restructuring government sectors, and formulating many policies and legislation to achieve various goals.
That resulted in the National Industrial Development and Logistics Services Program, which aims to combine energy, industry, mineral wealth and logistics services to work together to achieve the targeted return.
After its establishment in late 2019, he pointed out that the ministry was empowered through a group of bodies and authorities that support the march of the industrial sector, which is the integrated industrial and mining system that works in harmony to serve investors and attract more investments.
It also integrates and works in perfect harmony with many government agencies such as the Food and Drug Authority, the Saudi Standards, Metrology and Quality Authority, the Zakat, Tax and Customs Authority, and the General Authority for Foreign Trade to achieving an industrial renaissance. He noted the role of the Local Content and Government Procurement Authority through mandatory lists and price preferences for local products.