RIYADH — Minister of Investment Khalid Al-Falih announced that Saudi Arabia plans to launch a global initiative to attract global supply chains to the Kingdom, including iron and steel.

“The program will focus on enhancing the efficiency of global supply chains and their ability to recover by attracting foreign direct investment,” he said while addressing the 2nd Saudi International Iron and Steel Conference 2022 here on Monday.

Al-Falih said that the initiative will also focus on forging partnerships with manufacturers from the Saudi private sector. “The Kingdom has the capabilities and strategic advantages that put it in a privileged position to become a party of great importance regionally and globally in the field of iron and steel industry in the near future,” he added.

A large number of global steel industry leaders are taking part in the three-day conference, organized by the Saudi National Committee for Steel Industry.

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