Saudi Gazette report
WASHINGTON — Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held a series of bilateral meetings with leaders of major American industrial and mining companies during his current official visit to the United States. The meetings discussed joint investment opportunities in the industrial and mining sectors and major incentives offered to facilitate foreign investments in the Kingdom.
The meetings focused on enhancing industrial and mining cooperation between the two sides, identifying joint investment opportunities in the mining sector and other priority industrial sectors, including the chemical, aviation, and food industries. They also discussed opportunities to exchange expertise and transfer the latest manufacturing and mining technologies to the Kingdom, supporting the implementation of ambitious plans of the National Industrial Strategy and the Comprehensive Mining Strategy, and achieving the goals of Saudi Vision 2030.
The meetings reviewed the competitive advantages of the Kingdom's investment environment, based on strategic components, including its geographical location linking three continents, advanced infrastructure, advanced logistics services, competitive energy prices, and the ease of government procedures and licensing. This consolidates the Kingdom's position as an attractive destination for global investment.
The American industrial and mining companies with whom Minister Alkhorayef met included General Mills, a food processing and manufacturing company; Lilac Solutions, a mining company; RTX Aerospace and Defense; and International Flavors & Fragrances, a chemical company.
The meetings were attended by the CEO of the National Center for Industrial Development Eng. Saleh Al-Sulami, and a number of officials from both sides.
Al-khorayef's meetings with leaders of American companies are consistent with the goals of Vision 2030, which aims to transform the Kingdom into a leading industrial power and a global center for mining and minerals by strengthening international partnerships, attracting quality investments, transferring knowledge and innovation, and localizing the latest technologies in the Kingdom.
