The Federation of Saudi Chambers, represented by the Saudi-French Business Council, participated in a meeting organized by the French Employers Association (MEDEF), on investment opportunities in the mining sector in the Kingdom, in the presence of representatives from the Ministries of Industry and Mineral Resources, Investment and some Saudi and French companies working in the mining field.
Dr. Mohammed bin Laden, Chairman of the Saudi-French Business Council, noted the economic importance of the mining sector in the Kingdom as one of the most important pillars of the Saudi industry, and the objectives of Vision 2030 to maximize its impact on the gross domestic product and its participation in the local content and trade balance, achieving its sustainability and improving legislative and investment capabilities.
“The Saudi mining sector, thanks to government support, has become one of the most promising sectors that provide local and international investors with wide investment opportunities, and gives French companies a unique opportunity to enter the Saudi mining market,” he said, stressing the Joint Business Council’s keenness to enable investors to those opportunities through partnerships with their counterparts in the Saudi business sector.
The meeting reviewed the investment opportunities available to French companies in the field of mining in the Kingdom, and the efforts made during the past years to strengthen the mining sector, introduce its components and capabilities, attract foreign investors to it, and improve the business environment in the sector, through the relevant competent authorities, led by the Ministry of Industry and Mineral Resources and the Ministry of Investment.
The French side conveyed the desire of French investors to enter into the investments in the Saudi mining sector and its assertion that this participation would achieve an added value for the sector through the transfer and localization of the leading French expertise.
The French MEDEF organization has been working for more than 30 years, in cooperation and partnership with the Saudi-French Business Council, to organize trade delegations and hold meetings and dialogues between representatives of the public and private sectors in the two countries in a way that enhances commercial and investment companies.