Autumn: Saudi Arabia leads global mining investment and attracts major companies

The Minister of Industry and Mineral Resources, Bandar Al-Khorayef, affirmed that the Kingdom of Saudi Arabia is witnessing a historic transformation in its economic landscape, with a radical shift in the perception of foreign investors and major corporations towards the Saudi market. He explained that what was previously considered mere aspirations and future plans has now become a tangible reality, supported by concrete figures and projects on the ground.

Strategic shift in the mining sector

In an interview with CNBC Arabia, Al-Khorayef noted that major international companies are no longer merely observing the market, but are now seriously discussing mechanisms for entering and investing in the vital sectors that the Kingdom is striving to develop. This growing interest comes at a time when the Kingdom, as part of its Vision 2030, is seeking to make the mining sector the third pillar of national industry, alongside oil, gas, and petrochemicals, leveraging its vast mineral wealth, valued at trillions of riyals, which includes phosphate, gold, copper, and rare earth minerals.

Attractive investment environment and financial stability

The minister stated that the Kingdom has proven its position as one of the best countries globally in mining investment, attributing this to several key factors, most notably:

• Ease of procedures: The mining investment system has been updated to reduce bureaucracy and expedite the issuance of licenses.
• Political and financial stability: which the Kingdom enjoys, giving investors the security needed to inject huge capital into long-term projects.
• Geographical location: which makes Saudi Arabia an ideal platform for regional expansion into the Middle East and African markets.

Al-Khuraiji added that there are increasing demands from companies aspiring to acquire large market shares, taking advantage of diverse investment opportunities and growing demand in the local and regional markets.

Localization of pharmaceutical and technological industries

On another front, Al-Kharif addressed the issue of pharmaceutical security, stressing that the ministry is engaged in advanced negotiations with all global pharmaceutical companies with the aim of localizing these vital industries within the Kingdom, noting the achievement of tangible successes in this file, which is a fundamental pillar of national health security.

Regarding the technology sector, the minister highlighted the significant potential for growth in Saudi technology exports. He explained that the Kingdom has developed innovative technological services and solutions unavailable in other countries, opening up vast opportunities to export these applications and expertise to global markets, thus reinforcing Saudi Arabia's position as a hub for digital innovation in the region.