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Saudi Arabia on Track to Become Regional Mining Sector Focal Point

Saudi Arabia on Track to Become Regional Mining Sector Focal Point

Friday, 14 January, 2022 - 06:00
Deputy Minister of Industry and Mineral Resources Khalid al-Mudeifer, Asharq Al-Awsat

Saudi Arabia is now on the global mining map, one of the Kingdom’s officials revealed on Thursday, adding that the move matches the country’s plans to become a center for servicing the vital sector in nearby regions.

The Kingdom enjoys a significant geographic location and distinguished international relations worldwide, stressed Khalid al-Mudeifer, the Deputy Minister of Industry and Mineral Resources.

These attributes allow Saudi Arabia to become a focal point for regional administrations of international mining companies, consultancy services, studies, laboratories, mining financing, and exploration and drilling services.

From Africa to Central Asia, the Kingdom enjoys a unique geographic location and system for attracting investment in mining.

According to al-Mudeifer, Saudi Arabia has achieved a lot during the international mining conference it held this week.

Investors engaged with the symposium and had their traditional views of the Kingdom changed, noted the deputy.

Saudi Arabia has been moving forward with programs of its national plan for transformation, Vision 2030.

The conference proved to the world the extent to which the Kingdom has opened its doors to accommodate all investors in the field of mining and other fields, confirmed al-Mudeifer, adding that Riyadh has achieved a massive leap in infrastructure, economic openness, reforms, and stimulating legislation.

“The door is widely open for investors and the public and private sectors to invest in the Kingdom and build on the changes that have taken place in a safe environment with complete confidence,” he said.

“We have prepared the infrastructure for the advancement of the mining sector and are now starting to attract investments,” added al-Mudeifer.

“There are laboratories that are currently being established in Jeddah for an integrated service to the East African and Saudi regions, in light of agreements and partnerships that were launched on a large scale,” he revealed.

Al-Mudeifer also disclosed that Saudi Arabia had received extensive investment requests for its mining sector. Authorities are now working to accommodate those calls on a single platform.

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