Saudi Gazette report

ANKARA — Minister of Industry and Mineral Resources Bandar Al-Khorayef underscored Saudi Arabia's commitment to realizing the goals of Saudi Vision 2030 through a comprehensive array of programs and projects.

Minister Al-Khorayef, currently on an official visit to Türkiye, highlighted how these initiatives are poised to elevate investment prospects for Turkish investors across a spectrum of sectors integral to the Kingdom's economic expansion.

Addressing an investment roundtable convened by the Turkish Union of Chambers and Commodity Exchanges (TOBB), Al-Khorayef expressed the Kingdom's conviction that its economic prowess will inevitably position it as a prime destination for Turkish investors. This outlook is augmented by the ambitious Saudi Vision 2030, which seeks to redefine the Saudi economy and reduce dependency on oil by capitalizing on the Kingdom's strategic geographic location to establish a dynamic regional economic hub.

The Saudi minister asserted that the Kingdom's focus is firmly set on cultivating a modern infrastructure that embraces cutting-edge technologies. The National Industrial Strategy (NIS), a cornerstone of this endeavor, places technology at its core, fully embracing the transformative potential of the Fourth Industrial Revolution and its multifaceted applications.

This strategic approach encompasses the integration of emerging technologies such as artificial intelligence (AI) and 3D printing, while concurrently fostering industrial investments that can maintain global competitiveness over the long term. Minister Al-Khorayef emphasized that Saudi Arabia's commitment to these principles is unwavering, reinforcing its determination to spearhead innovation and industrial advancement.

Concluding his address, Al-Khorayef extended an earnest invitation to Turkish investors to explore the vast potential and opportunities the Kingdom offers to foreign investors. He urged them to meticulously select opportunities aligned with their capabilities and preferences, thereby facilitating the accomplishment of their aspirations and, in parallel, contributing to the Kingdom's industrial and mining ambitions.