Minister of Industry and Mineral Resources Bandar Alkhorayef affirmed that the Kingdom’s strategic advantages—its geographic location, abundant natural resources, political and financial stability, competitive energy prices, advanced infrastructure, and qualified human capital—serve as key drivers enhancing its appeal to global investors.
The minister made the remarks during the main ministerial session of the fourth Public Investment Fund (PIF) Private Sector Forum, which commenced today in Riyadh.
Alkhorayef highlighted the pivotal role played by the PIF in integrating with the industrial and mining ecosystem to enable quality investments. He outlined several roles undertaken by the fund, including launching advanced industries previously absent from the Kingdom, such as the automotive, military, and pharmaceutical sectors. He also pointed to the fund’s contribution to developing and expanding major national companies, including Maaden and SABIC, while creating significant opportunities within supply chains, particularly in aluminum and phosphate mining.
On the adoption of emerging technologies, Alkhorayef noted that the Kingdom’s advanced digital infrastructure has accelerated the integration of Fourth Industrial Revolution technologies and artificial intelligence across vital sectors. He stressed that efforts are focused on deploying advanced technologies to expedite project implementation and enhance industrial competitiveness.
He explained that the ministry is working to transform traditional factories into advanced facilities by providing a package of initiatives and enablers that support smart transformation, including the Future Factories Program Initiative.
Alkhorayef also noted ongoing efforts to enable advanced technologies in the mining sector to enhance sustainability and efficiency, such as adopting smart mine management solutions.
The ministerial session forms part of the fourth edition of the PIF Private Sector Forum, which highlights government initiatives to empower the private sector and showcases promising investment opportunities across several vital sectors in the Kingdom.