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Saudi Arabia Intends to Increase Industrial Exports, Implement Localization

Minister of Industry and Mineral Resources Bandar Al-Khorayef said that the objectives of the industry’s strategy for the year 2030 include increasing the volume of investments, exports, job opportunities and the creative future. He stressed the ministry’s keenness to make the industry and mineral wealth sector attractive to investments and entrepreneurs.

 There is no monopoly over large capitals, especially since the industrial sector is more capable of adopting new technologies that help create opportunities in the industrial sector and attract new investors.

 This came during Al-Khorayef’s visit to the Enterprise Support Center in Medina. He praised its importance in empowering small and medium-sized enterprises in the region and improving their performance.

Engineer Saleh Al-Rasheed, governor of the General Authority for Small and Medium-Sized Enterprises “Monshaat”, gave a detailed explanation of the center’s tasks and objectives, which focus on supporting and empowering the small and medium-sized enterprises sector.

The minister also participated in the responsible council meeting about industrial investment opportunities in the Madinah region. The ministry is playing a great role in developing industrial investment. It motivates young people to create an environment for entrepreneurship, in addition to promising opportunities in the industrial sector to push the wheel of development and expand the production base.