RIYADH — The Minister of Industry and Mineral Resources and Chairman of the Board of Directors of Saudi Export Development Authority (SAUDI EXPORTS) Bandar Al-Khorayef, confirmed that Saudi Arabia will continue achieving further successes, including attracting industrial investments estimated at about SR1 trillion.

He pointed out that most of the industrial investments, that will be attracted, target exports to achieve one of Vision 2030’s goals, which aims to make Saudi Arabia a leading industrial country and a global logistics platform.

The minister’s statements came during the inauguration of the second edition of “Made in Saudi Expo” exhibition, in Riyadh, which will last until Oct. 19.

He indicated that the targets came specially after the launch of a number of strategies, such as the national strategy for industry, the export strategy and the localization strategy that are aligned with each other to achieve the ambitious national goals.

The Made in Saudi program is not intended only for industries, but rather it is a national program that includes all the programs and services, the minister said, noting that the government, private sector and individuals have a shared responsibility in the program.

Al-Khorayef said that Saudi Arabia owns a strong industrial base that is capable of facing the challenges, which strengthen the chances of success of the Made in Saudi program to build on the gains and create an identity for the Kingdom’s industry that enables it to compete locally and globally.

He pointed out that the Made in Saudi Expo exhibition represents a celebration of successes and belonging to the homeland, as well as a celebration of the Saudi product’s participation in global competition and its access in many promising markets around the world.

It is worth mentioning that the exhibition in its current edition is hosting Iraq as a guest of honor, with 24 Iraqi companies participating.

Hosting Iraq in the exhibition comes as an extension of the strong economic relations between Saudi Arabia and Iraq, in addition to enhancing trade exchange with the Iraqi side, and to increase opportunities for growth of national goods and services.

The second edition of the Made in Saudi Expo exhibition, includes more than 100 Saudi companies, and will witness the signing of more than 40 agreements, such as export agreements and industry localization agreements, with a value exceeding SR1 billion.

© Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).