Casablanca, Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef, on an official visit to Morocco, reaffirmed the Kingdom’s commitment under Vision 2030 to transform the mining sector into the third pillar of its national industry, following oil and petrochemicals. He conveyed the Kingdom’s eagerness to learn from leading nations in this field, particularly Morocco, with whom Saudi Arabia has strong historical and strategic connections.
Alkhorayef highlighted the potential for partnership with Morocco in significant mining ventures due to the extensive mineral resources possessed by both nations. Collectively, they contribute to more than 40% of the global production of phosphate fertilizer, he said.
This came in a recent roundtable meeting, held in Casablanca, with investors and business people. Alkhorayef also discussed Saudi Arabia’s National Industrial Strategy, highlighting its emphasis on diverse sectors, including those that prioritize sustainability, food security, pharmaceutica
ls, and defense. The strategy capitalizes on Saudi Arabia’s competitive advantages, such as its oil, natural gas, and strategic geographic location that allows Saudi Arabia to access key markets, such as in Africa.
The strategy also places a high priority on emerging industries like electric-vehicle (EV) batteries, renewable energy, and space-related industries.
Alkhorayef stressed the importance of fostering industrial integration among Saudi Arabia, its neighboring nations, and Arab countries. He stated that the National Industrial Strategy identified multiple avenues to promote and enhance industrial integration. He highlighted the attractive incentives and facilities offered by Saudi Arabia to investors in the industrial and mining sectors.
Source: Saudi Press Agency
