The Economy and Energy Committee – one of the specialized committees – in the Shura Council held a meeting to discuss the highlights of the annual report of the Ministry Industry and Mineral Resources for the fiscal year 1441/1442 AH.
The meeting discussed what was included in the Ministry’s annual report for the past fiscal year, especially the organizational structure and the national strategy for industry and its integration with government sector policies.
They also discussed the national industrial development program and logistics services and industrial facilities to build a flexible, sustainable and competitive industrial economy in which the private sector contributes effectively.
The attendees also reviewed mechanisms and frameworks to increase the participation of the private sector by setting regulations and technical specifications. Then, they discussed how to enhance the Ministry’s efforts to explore cooperation opportunities, locally and internationally, and encourage industry and mineral wealth development in the Kingdom.
The meeting took into consideration the most prominent challenges of the sector and possible solutions to develop the chain and reach competitive manufacturing industries and raise the protection of local products from unfair competition with imported products.
During the meeting, members of the committee raised several inquiries answered by His Excellency, the Minister and officials.