Saudi Arabia Invites Brazilian Companies to Invest in Mining Sector
Saudi Arabia has extended an invitation to Brazilian companies to explore investment opportunities in its thriving mining sector. The call comes as Saudi Minister of Industry and Mineral Resources, Bandar AlKhorayef, visited Brazil to showcase the significant growth potential in the industry.
Global Collaboration Essential for Mineral Production
Speaking at a roundtable meeting organized by the Federation of Industries in Sao Paulo, Minister AlKhorayef emphasized the importance of international cooperation in addressing global mineral production challenges. He highlighted the critical role of minerals in the global energy transition and emphasized the need for collective leadership.
Saudi Arabia is gearing up for expansion in its mining sector as part of the government’s Vision 2030 initiative. The country aims to attract international investors by enhancing licensing transparency, supporting national industries, and promoting local content development and job creation.
Transformative Growth Opportunities in Saudi Arabia
During the meeting, Minister AlKhorayef stated, “The Kingdom recognizes the need for collaborative efforts to address mineral production challenges globally. We are focused on forging strong partnerships worldwide while maintaining ambitious goals for progress.”
Highlighting Saudi Arabia’s rich natural resources, skilled workforce, modern infrastructure, and conducive business environment, the minister emphasized the transformative growth potential of investing in the Kingdom.
Invitation to International Mining Conference
AlKhorayef extended an invitation to Brazilian companies to participate in the upcoming International Mining and Resources Conference in Riyadh. The event, scheduled for January, serves as a significant platform for discussing opportunities, challenges, and solutions in the global mining sector.
Saudi Arabia’s National Industry Strategy
Through its National Industry Strategy, Saudi Arabia is positioning itself as a leader in various sectors, offering over 800 projects worth SR1 trillion ($266.59 billion) for investment. The initiative aims to boost exports, reshape the national industrial landscape, and support economic diversification efforts in the country.