Saudi Minister of Industry and Mineral Resources, Bandar Al-Khorayef, has called on Kuwaiti businessmen, companies, and investors to explore the unique and promising investment opportunities available in Saudi Arabia, particularly in the industrial and mining sectors.
He emphasized that the Kingdom offers attractive incentives and streamlined procedures to facilitate investor entry and operations.
His remarks came during a meeting on Tuesday with a group of Kuwaiti business leaders, organized by the Saudi Embassy in Kuwait. The gathering aimed to discuss the depth of investment potential in sectors aligned with Saudi Vision 2030, the Kingdom’s long-term economic transformation plan.
Minister Al-Khorayef highlighted the National Industrial Strategy, which prioritizes the development and localization of 12 key sectors, including food, pharmaceuticals, automotive, and aviation.
He noted that these sectors present substantial opportunities for both local and international investors, especially with the Kingdom’s focus on advanced manufacturing and the Fourth Industrial Revolution.
He also spotlighted initiatives such as the Future Factories Program, aimed at automating industrial operations and transforming them into smart, technology-driven production hubs. These initiatives, he said, are supported by a strong push to develop digital infrastructure and build a skilled workforce capable of navigating technological advancements.
On mining, Al-Khorayef described the sector as undergoing a major development phase, with geological surveys currently covering 60% of the Arabian Shield—a region rich in untapped resources. He revealed that the Kingdom’s mineral wealth is estimated at more than 9.3 trillion Saudi riyals (approximately $2.4 trillion USD), positioning Saudi Arabia to become a global hub for mineral production and processing.
The Minister cited Saudi Arabia’s strategic advantages—geographical location, well-developed infrastructure, abundant natural resources, and business-friendly regulations—as compelling reasons for foreign investors to engage with the Kingdom’s economic transformation.
The meeting was attended by Prince Sultan bin Saad, Ambassador of the Custodian of the Two Holy Mosques to Kuwait, who underscored the importance of strengthening Saudi-Kuwaiti economic relations.
Minister Al-Khorayef’s visit to Kuwait reflects Saudi Arabia’s commitment to deepening regional partnerships, enhancing cooperation in key sectors, and attracting high-quality, strategic investments.
