Saudi Arabia to become a main player in global trade fields

Photo by FLY&I on Unsplash
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The Minister of Industry and Mineral Resources Bandar Bin Ibrahim Al Khorayef has affirmed Saudi Arabia’s plan to become a main player in the global trade fields through investing in several sectors.

Al Khorayef’s affirmation came during participating in a panel discussion entitled “Regional Trade and Cooperation in a Fragmenting World” at the World Economic Forum’s Growth Summit 2023.

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At the event that is being held in Geneva, Switzerland, He also confirmed the Kingdom’s commitment with economic diversification and sustainable growth.

He said that Saudi Arabia will invest in many sectors such manufacturing and mining, in addition to benefiting from several of the advantages that it enjoys such as the natural resources and its distinguished geographical location.

The minister has shed light during the panel discussion that the growth was driven previously in Saudi Arabia by oil resources, noting that this was before its Vision 2030, which targets to launch the capabilities to several promising sectors that would have a real value for the Saudi economy.

The Mining Investment Law provides several stimulants for investors in order to develop worthwhile investment opportunities in the sector Al Khorayef said.