Spain Has Unmissable Opportunity to Invest in Saudi Mining Sector, Says Alkhorayef
Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef has boosted mining cooperation with Spanish Minister of State for Energy Sara Aagesen Muñoz.
According to the Saudi Press Agency (SPA), Alkhorayef has held an important meeting with Muñoz aiming to attract promising investments to Saudi Arabia’s mining sector.
Alkhorayef emphasized the depth of Saudi-Spanish relations noting that Spain is a main partner to the Kingdom. Such partnership fostered the economic and commercial cooperation between both countries.
Saudi Vision 2030
In the same context, Alkhorayef stressed that Saudi Vision 2030 aims basically to diversify the Kingdom’s economy and boost non-oil exports.
Therefore, the Kingdom is accelerating the growth of industry, mining and energy sectors.
He also mentioned that Saudi Arabia is currently supporting and empowering the private sector to make a real difference in this transformation journey and capture new investment opportunities.
The vision has revolutionized the mining sector and maximized its potentials and visions.
The Kingdom’s comprehensive road map for economic development and diversification has singled out the mining sector as the potential third ‘pillar’ of the industry after petroleum and petrochemicals.
Unmissable Opportunity
Thus, Spanish mining companies have an unmissable opportunity to embark in a successful journey with Saudi Arabia.
Alkhorayef’s meeting with Energy Spanish Minister is part of his official visit to Spain to strengthen the bilateral mining cooperation.
Saudi Arabia’s Mining Sector
Saudi Arabia has a sterling reputation as a rich reliable energy provider to the world.
After launching Vision 2030, the Kingdom has taken serious steps to end its dependency on oil and unleash new horizons of diversified economy.
The Industry Ministry has brought together its visions and objectives under the umbrella of the National Industrial Development and Logistics Program (NIDLP).
NIDLP
NIDLP includes 4 main sectors: energy, industry, mining, and logistics.
It marks the Kingdom’s pursuit to becoming a pioneering industrial powerhouse and prestigious global logistics hub.
Thus, the program primarily aims at positioning the Kingdom as an effective key player in the energy, mining, logistics and industry sectors.
It set a comprehensive mining strategy that includes 38 initiatives designed to foster mining exploration and development.
Moreover, the initiative sheds light on Saudi Arabia’s status as the fourth-largest net importer of these materials in the world. This fact represents a golden opportunity for this promising sector to drive the Saudi economic growth.
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