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Saudi Arabia Highlights Important Mining Investment Opportunities in Emerging Markets

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)
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Saudi Arabia Highlights Important Mining Investment Opportunities in Emerging Markets

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)

Saudi government agencies will participate in the Future Minerals Summit, which will kick off in Riyadh Tuesday to present investment opportunities accompanying the Forum through an integrated platform that includes all aspects of the investor's journey in the Saudi mining sector.

The mining sector in the Kingdom includes 12 government agencies, including the Ministry of Investment, which considers the Summit a new national anchor that achieves aspirations in reviewing investment opportunities and developing and diversifying the economy according to the objectives of Vision 2030.

The Ministry aims to shed light on the mining sector in the Kingdom and investing opportunities and ease of doing business.

The three-day Summit will present several projects and opportunities in emerging markets through its sessions and workshops.

The exhibition focuses on presenting technologies that will contribute to establishing the future mining sector in which Saudi Arabia will play a fundamental role. It also has pavilions dedicated to regional countries.

The Summit and the accompanying exhibition will enhance the Kingdom's strategic leadership in this sector, contribute to the presentation of advanced technologies and innovations, and facilitate new partnerships and knowledge exchange.

Meanwhile, the Ministry of Environment, Water, and Agriculture renewed its commitment to environmental sustainability and the prosperity of development sectors.

Participating in the Summit, the Royal Commission for Jubail and Yanbu aspires to bolster the sector's potential, encourage investments, and shed light on the most prominent prospects of opportunities in the Kingdom.

The Saudi Export Development Authority will review the opportunities to increase the Kingdom's exports in global markets.

The Saudi Industrial Development Fund believes the Summit will support the industrial sector as a global platform to highlight its advantages.

The Saudi EXIM Bank is also participating in the Summit to highlight the importance of investment in the Kingdom, with integration and coordination between sectors.

The Local Content and Government Procurement Authority's participation in the Summit aims to publicize its role in building a stable and sustainable economy by localizing content and establishing new economic horizons.

The National Industrial Development Center will present the ambitious Vision 2030 that the Summit will promote and highlight the qualitative opportunities and competitive advantages of investing in the mining sector and its sustainable investment opportunities.

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Tesla's China Sales Have Best Month of the Year in August

FILE PHOTO: A staff member attends to customers inside a Tesla Model Y car at a showroom of the US electric vehicle (EV) maker in Beijing, China, Feb. 4, 2023. REUTERS/Florence Lo/File Photo
FILE PHOTO: A staff member attends to customers inside a Tesla Model Y car at a showroom of the US electric vehicle (EV) maker in Beijing, China, Feb. 4, 2023. REUTERS/Florence Lo/File Photo
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Tesla's China Sales Have Best Month of the Year in August

FILE PHOTO: A staff member attends to customers inside a Tesla Model Y car at a showroom of the US electric vehicle (EV) maker in Beijing, China, Feb. 4, 2023. REUTERS/Florence Lo/File Photo
FILE PHOTO: A staff member attends to customers inside a Tesla Model Y car at a showroom of the US electric vehicle (EV) maker in Beijing, China, Feb. 4, 2023. REUTERS/Florence Lo/File Photo

Tesla's sales in China logged their best month for the year so far in August, with the US electric vehicle maker benefiting from brisk sales in smaller cities.
Tesla said it sold more than 63,000 cars in the world's biggest auto market last month, a hefty 37% jump from July, but probably still down from August last year when it sold 64,694.
While an encouraging improvement, its performance lags major Chinese rivals by a wide margin.
BYD, the world's biggest EV maker, said its China passenger vehicle sales surged 35% in August from a year earlier to a record monthly high of 370,854. Other local EV competitors including Leapmotor and Li Auto also reported higher sales.
Like many other automakers, Tesla has been badly bruised by a protracted price war in China where economic growth has also been sluggish and consumer confidence fragile. Its China sales declined 5% for the first half of the year.
Although Tesla has cut its local sales force as part of a global downsizing, a number of factors have helped recent sales momentum.
Tesla has since April offered zero-interest loans of up to five years for buyers, while several local governments have made its cars eligible for official car purchases in recent weeks.
It also received a key regulatory nod earlier this year, with the country's top auto industry association saying that data collection by Tesla vehicles was compliant with regulations, allowing Tesla cars to enter some government compounds that they used to be banned from.
An analysis by China Merchants Bank International of Tesla's China sales in July showed a 78% year-on-year increase in deliveries in so-called tier-three cities while its sales in second-tier cities such as Hangzhou and Nanjing rose 47%.
Separate data from the China Passenger Car Association for Tesla China-made vehicles which includes exports showed sales grew 3% in August from a year earlier to 86,697 units.
Deliveries of its China-made Model 3 and Model Y vehicles rose 17% from July.
Tesla plans to produce a six-seat variant of its Model Y car in China from late 2025, two people with direct knowledge of the matter said. The move is aimed at increasing the appeal of its best-selling yet aging EV.