Latest news with #IndustryandMineralResources
Saudi Gazette
21-05-2025
- Automotive
- Saudi Gazette
Alkhorayef: Saudi Arabia rapidly localizing auto industry, becoming re-export hub
Saudi Gazette report DOHA— Minister of Industry and Mineral Resources Bandar Alkhorayef highlighted Saudi Arabia's swift progress in localizing the automotive industry during his participation in a dialogue session at the Qatar Economic Forum in Doha on Wednesday. He emphasized that Saudi Arabia would become a re-export hub with its rapid transformation taking place in the automobile industry. The minister highlighted the Kingdom's emergence as a key player in car re-exports, driven by advancements in infrastructure and logistics services. He also discussed the Kingdom's focus on the future of the electric vehicle industry to achieve the goals of transitioning to clean energy, as per the goals of Vision 2030. Alkhorayef noted that industrial transformation, the adoption of advanced manufacturing technologies, and the deployment of applications from the Fourth Industrial Revolution, including AI and robotics, requires a robust digital infrastructure. He pointed out that the Kingdom has made substantial progress in this area through targeted investments in digital infrastructure and the implementation of regulations and laws to ensure privacy and cybersecurity. He stated that 2024 saw a significant leap in the performance of non-oil exports, with their contribution to GDP rising from 16 percent to 25 percent. This achievement stems from effective government policies, a favorable investment environment, and active engagement from the private sector. Speaking at a dialogue session during the Qatar Economic Forum, Minister of Economy and Planning Faisal Alibrahim underscored the continued efforts to implement reforms aimed at improving the business environment and enhancing investment opportunities in the Kingdom, in line with the objectives of Vision 2030. Alibrahim explained how the Kingdom is restructuring its economy for the long term, transitioning from a consumption-based model to a more complex and productive one, while continuing to attract global capital and talent. The minister emphasized that Vision 2030 is not merely a plan but a transformative journey, underpinned by institutional efficiency and effective decision-making.
Zawya
20-05-2025
- Business
- Zawya
Saudi, Malaysian industry ministers explore avenues for promoting joint investments
RIYADH — Minister of Industry and Mineral Resources Bandar Alkhorayef met with Malaysian Minister of Investment, Trade, and Industry Tengku Datuk in Riyadh on Monday. Their discussions focused on ways to strengthen bilateral economic relations and develop cooperation in the industrial sector. During the meeting, the ministers explored opportunities to promote joint investments between the two countries. They discussed the enablers and incentives available to facilitate the investor journey, and the high-value investment opportunities offered in the Kingdom. Their talks also covered the goals of Saudi Vision 2030 aimed at diversifying the national economy, as well as an overview of the National Industrial Strategy and its role in boosting the Kingdom's manufacturing capabilities, enhancing local content, and advancing priority industrial sectors targeted for localization and development. The meeting highlighted the Kingdom's strategic advantages that position it as a globally attractive investment destination, including its geographic location connecting three continents, abundant natural resources, streamlined government procedures, competitive energy prices, and advanced infrastructure. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Saudi Gazette
19-05-2025
- Business
- Saudi Gazette
Saudi, Malaysian industry ministers explore avenues for promoting joint investments
Saudi Gazette report RIYADH — Minister of Industry and Mineral Resources Bandar Alkhorayef met with Malaysian Minister of Investment, Trade, and Industry Tengku Datuk in Riyadh on Monday. Their discussions focused on ways to strengthen bilateral economic relations and develop cooperation in the industrial sector. During the meeting, the ministers explored opportunities to promote joint investments between the two countries. They discussed the enablers and incentives available to facilitate the investor journey, and the high-value investment opportunities offered in the Kingdom. Their talks also covered the goals of Saudi Vision 2030 aimed at diversifying the national economy, as well as an overview of the National Industrial Strategy and its role in boosting the Kingdom's manufacturing capabilities, enhancing local content, and advancing priority industrial sectors targeted for localization and development. The meeting highlighted the Kingdom's strategic advantages that position it as a globally attractive investment destination, including its geographic location connecting three continents, abundant natural resources, streamlined government procedures, competitive energy prices, and advanced infrastructure.
Leaders
11-05-2025
- Business
- Leaders
Industry Minister Wraps Up Official Visit to Denmark, Strengthens Bilateral Industrial Ties
Bandar Alkhorayef, Minister of Industry and Mineral Resources, has concluded an official visit to Denmark, marking a pivotal step forward in deepening economic collaboration between the two nations. The visit centered on expanding cooperation in the industrial and mining sectors, aligned with Saudi Vision 2030's objectives to diversify the Kingdom's economy and advance its industrial capabilities. Visit to Denmark Over the course of the two-day visit, Minister Alkhorayef engaged in high-level discussions with Danish government officials and industry leaders, focusing on strategic partnerships in non-oil sectors such as pharmaceuticals, green technology, sustainable energy, food production, and advanced machinery. A key highlight of the visit was a bilateral meeting with Denmark's Minister for Economic Affairs, Stephanie Lose. The ministers explored ways to enhance policy coordination, support industrial growth, and strengthen investment flows between the two countries. To foster greater private-sector collaboration, Minister Alkhorayef also met with representatives from the Danish Chamber of Commerce, as well as executives from Vestas and European Energy. Discussions revolved around boosting trade, encouraging knowledge transfer, and identifying joint investment opportunities. Alkhorayef chaired a roundtable with senior leaders from prominent Danish companies to further explore prospects for industrial cooperation. Separate meetings were also held with executives from Novonesis, Arla Foods, Danfoss, FLSmidth, and Novo Holdings, focusing on forging stronger commercial ties in areas targeted by Saudi Arabia's National Industrial Strategy. Novo Nordisk The minister's itinerary included a tour of Novo Nordisk's campus to gain insights into its advanced insulin and biopharmaceutical manufacturing technologies. He also visited DTU Science Park, where he reviewed innovative research initiatives and cutting-edge industrial solutions. The visit concluded with a meeting between Minister Alkhorayef and Gerd Müller, Director General of the United Nations Industrial Development Organization (UNIDO). They discussed bolstering the strategic partnership between Saudi Arabia and UNIDO, and ongoing preparations for the 21st UNIDO General Conference, set to take place in Riyadh this November. This official visit underscores Saudi Arabia's commitment to achieving the goals of Vision 2030 by building international partnerships. Finally, this attracts quality investments to localize critical industries that support the Kingdom's health, food, and industrial security. Related Topics : Saudi Arabia, Denmark Explore Investment Opportunities in Industry, Mining Kurt Westergaard, the Prophet Muhammad cartoonist from Denmark dies at 86. Saudi Foreign Minister: Two-State Solution is Basis for Peace, Security WHO Honors Saudi Arabia for Trans Fat-Free Food Products Short link : Post Views: 17
Saudi Gazette
10-05-2025
- Business
- Saudi Gazette
Saudi minister visits Denmark to boost industrial ties and advance insulin localization
Saudi Gazette report COPENHAGEN — Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef began an official visit to Denmark on Thursday, leading a delegation from the Kingdom's industry and mining sector to strengthen bilateral economic and industrial ties. Alkhorayef met with Danish Minister of Economic Affairs Stefanie Loos in Copenhagen, where both sides agreed to enhance cooperation through technology transfer, joint investments, and the exchange of expertise across strategic industrial sectors that Saudi Arabia aims to develop and localize. The minister also held talks with Lars Sandahl Sørensen, CEO of the Confederation of Danish Industries. During the meeting, Alkhorayef reaffirmed Saudi Arabia's ambition to become a global industrial hub. He emphasized the critical role of international partnerships in driving progress across strategic sectors outlined in the Kingdom's National Industrial Strategy. The meetings explored opportunities for deeper collaboration with Danish member companies in areas such as industrial capacity development, digital transformation, knowledge exchange, and human capital development, with the goal of fostering sustainable and mutually beneficial economic growth.A key focus of the visit was accelerating the localization of insulin production, GLP-1 preparations, and advanced biotherapies in Saudi Arabia. Alkhorayef held a series of meetings with leading pharmaceutical firms, including Novo Holdings, to support this visit builds on a tripartite agreement signed during the Global Health Forum in Riyadh in October 2024 between the National Unified Procurement Company for Medicines and Medical Supplies (nupco), Lifera — a company owned by the Public Investment Fund (PIF) — and Novo agreement aims to localize production of up to seven types of insulin products and meet over 80% of domestic demand by 2027, positioning Saudi Arabia as the first Gulf nation to manufacture insulin Kingdom has made significant strides in localizing its pharmaceutical industry, reducing reliance on imports from 80% in 2019 to 70% by between Saudi Arabia and Denmark has seen steady growth in recent years. The total volume of non-oil trade reached over SR4.3 billion in 2024, up from SR3.9 billion in 2023.
