One Vision, Dual Mandate: Prince Abdulaziz bin Salman Synchronizes Saudi Energy, Industry
Prince Abdulaziz bin Salman has been appointed Saudi Arabia’s Minister of Industry and Mineral Resources, while retaining his role at the helm of the Ministry of Energy.
By unifying the Kingdom’s energy and industry portfolios under one leadership, Saudi Arabia paves the way for total industrial integration, accelerating economic transformation in line with the objectives of Vision 2030.
Driving Economic Engines
The Big Picture: Under a royal decree on Saturday, July 11, 2026, King Salman bin Abdulaziz Al Saud appointed Prince Abdulaziz bin Salman Minister of Industry and Mineral Resources, alongside his current role as Energy Minister.
The move marks a massive structural shift in Saudi Arabia’s execution of its transformative Vision 2030, which positions mining as the third pillar of the national economy.
NIS Ambitious Goals
Launched by Saudi Crown Prince Mohammed bin Salman in 2022, the National Industrial Strategy (NIS) aims to transform the Kingdom into a global industrial powerhouse and logistics hub.
The Context: The NIS focuses on building an investment-friendly industrial economy that drives economic diversification and bolsters the Kingdom’s GDP and non-oil exports.
Targeting advanced manufacturing, automotive, aerospace, and defense industries, the NIS relies heavily on affordable downstream energy and raw mineral inputs.
By The Numbers:
- The NIS aims to increase the number of factories to 36,000 by 2035.
- It aims to boost the manufacturing contribution to the GDP to $238.6 billion (SAR 895 billion).
- It aims to scale non-oil industrial exports to $148.5 billion (SAR 557 billion).
By placing energy and industry under a unified architect, the Kingdom eliminates bureaucratic friction and ensures the efficient allocation of energy resources.
Managing the Mineral Wealth
Saudi Arabia is home to a massive mineral wealth valued at over $2.5 trillion (SAR 9.4 trillion). Its untapped reserves cover more than 45 identified minerals, including gold, zinc, phosphate, copper, and uranium.
State of Play: Leading the Kingdom’s Energy Ministry since 2019, Prince Abdulaziz has played a pivotal role on the global stage, steering critical production decisions within OPEC and OPEC+. He has also managed to maintain stability in global energy markets, masterfully navigating periods of heightened volatility and geopolitical disruptions.
Moreover, Prince Abdulaziz has successfully aligned the energy sector with the diversification goals of Vision 2030, advancing the Kingdom’s long-term economic transformation.
The Green Transition: Under the Saudi Green Initiative (SGI), the Energy Ministry is spearheading one of the world’s most aggressive utility overhauls, targeting an optimal domestic energy mix of 50% natural gas and 50% renewable energy by 2030.
Drawing on this vast expertise, Prince Abdulaziz is set to accelerate the transition from a raw mineral exporter to a global manufacturing hub.
The Defense Link
The Saturday royal decree also appointed former Industry Minister Bandar Al-Khorayef as Minister of State and the new Governor of the General Authority for Military Industries (GAMI).
This further synchronizes Saudi Arabia’s supply chain from raw minerals to advanced defense technology. Al-Khorayef was the architect of the Kingdom’s base industrial ecosystem. With the new mandate, he will now lead GAMI towards the goal of localizing more than 50% of the Kingdom’s military spending by 2030.
The Bottom Line: The new royal decree places Prince Abdulaziz at the beginning of the industrial pipeline and Al-Khorayef at the end of the pipeline, establishing a tactical bridge that will channel Saudi Arabia’s resources directly into local aerospace, defense components, and military technology.
