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Saudi Arabia Provides Export Opportunities to Acquire Larger Shares In Global Markets

Saudi Arabia Provides Export Opportunities to Acquire Larger Shares In Global Markets

Tuesday, 12 October, 2021 - 10:30
Saudi Arabia expands commodity export opportunities for local industries. (Asharq Al-Awsat)

Saudi Arabia, represented by the Saudi Export Development Authority, has provided more than 190 export opportunities for factories and companies operating in the kingdom.

The authority is striving to increase the proportion of non-oil exports from 16 to 50 percent of the GDP, in line with the Kingdom’s Vision 2030, in order to provide a set of incentives and services, most notably market studies and specialized goods for a range of export opportunities that were selected based on Saudi Arabia’s performance.

The Board of Directors of the Saudi Export Development Authority held its twenty-third meeting chaired by the Minister of Industry and Mineral Resources, Bandar Al-Khorayef, and discussed the progress of a number of projects and services such as international tenders and representative offices of Saudi companies in Iraq, as well as market studies and export opportunities.

The meeting concluded with a set of decisions and recommendations, including the adoption of the institutional transformation strategy and the approval of the new organizational structure.

Meanwhile, the Saudi Industrial Development Fund will launch on Wednesday a number of programs and initiatives as part of its annual meeting to empower the private sector.

The programs include a package of benefits and quality services provided by the Fund to its clients in the business sector under the patronage of the Minister of Industry and Mineral Resources, Chairman of the Board of Directors.

The Fund will introduce new products and programs during a gathering of government and private sector leaders in the fields of industry, mining, energy and logistics services. The Fund also aims to announce a number of partnerships and review the latest developments and services provided to the private sector.

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