The The volume of trade between Saudi Arabia and the European Union reached $80 billion, facilitated by 1,300 European companies that came to Saudi Arabia to invest there, Minister of Industry and Mineral Resources Bandar Al-Khorayef emphasized that the Kingdom enjoys several advantages that make investing there attractive to European and international investors, including infrastructure, a high degree of transparency, and the Kingdom’s strategic geographic location.
During his participation in the Saudi-European Investment Forum: A New Era Led by Natural Resources in the Kingdom of Saudi Arabia” at the Saudi-European Investment Forum, that the Kingdom’s mining strategy has focused on three key pillars. The first is learning from other global experiences in the mining sector to achieve positive economic and social impacts, The Kingdom is also keen to emphasize the direct link between mining and industry to maximize the benefits of its rich mineral resources and ensure that mining achieves a positive social impact, not just an economic one.
Al-Khuraif explained that the National Industrial Strategy is attractive to European investors, as the Kingdom is using it to empower the private sector and increase the flexibility and competitiveness of the industrial sector, in addition to industrial resilience, which ensures continued access to essential goods for the well-being of citizens and the continuity of economic activity, leads regional industrial integration of value chains, and capitalizes on the strengths of the Saudi economy.