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Saudi Arabia Seeking to Encourage Metal Casting, Molding Industries

Saudi Arabia Seeking to Encourage Metal Casting, Molding Industries

Sunday, 26 September, 2021 - 10:45
The Economy and Energy Committee of the Saudi Shura Council revealed on Saturday a draft study that supports encouraging the establishment of metal casting and molding industries. (Asharq Al-Awsat)

The Economy and Energy Committee of the Saudi Shura Council revealed on Saturday a draft that supports encouraging the establishment of metal casting and molding industries.


It stressed the importance of coordination between the Ministry of Industry and Mineral Resources and relevant parties to provide direct support in pricing raw materials used in factories, including energy and raw materials for manufacturing industries.


Shura Council member and Chairman of the Committee Dr. Faisal al-Fadhl chaired a virtual meeting on Saturday to discuss two annual reports submitted by the ministries of Energy and Industry and Mineral Resources for the past year.


Participants also discussed a draft memorandum of understanding in the field of promoting direct investment.


They tackled the importance of coordination to complete the requirements for approving the organizational structure in line with the tasks and responsibilities entrusted to the ministry, in light of recent changes and developments.


The committee referred to developing performance indicators for the energy system and including them in its future reports to ensure measuring the effectiveness of the outputs and their social and economic impact on national development.


Discussions also touched on the possibility of conducting a research study to determine the impact of energy products on the economic and social system, in addition to studying the added value resulting from the supply chain.


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