Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef, speaking at the Como Forum 2024 in Italy today, has stressed the Kingdom’s commitment to enhancing global cooperation in the industrial sector and building strong and effective partnerships with international industrial organizations for a more balanced and sustainable industrial future.
Alkhorayef explained that the Kingdom is undergoing an economic transformation journey, with Saudi Vision 2030 serving as a roadmap for diversifying the national economy’s sources of income. He noted that the topics of the Como Forum align with several targets of this vision, particularly those related to innovation, sustainability, and global cooperation.
The Minister highlighted that the Kingdom’s National Industrial Strategy includes targets for adopting the applications and technologies of the Fourth Industrial Revolution, focusing on integrating artificial intelligence, automation, and data analytics to enhance efficiency, productivity, and susta
inability in the industrial sector. The strategy also aims to adopt smart manufacturing technologies to develop Saudi industry and set new standards for sustainable industrial practices.
Alkhorayef also pointed out that the mining sector is another key pillar of the Kingdom’s economic transformation. The Saudi Vision 2030 aims for this sector to be a source of income diversification for the economy, with the Kingdom possessing abundant reserves of critical minerals, such as gold, phosphate, and rare earth elements. These minerals are essential for the energy transition.
He referred to the Kingdom’s commitment to achieving sustainability in the industrial sector and reliance on clean energy solutions, integrating renewable energy sources into industrial processes to achieve the Kingdom’s goal of net-zero emissions by 2060. Also, the Kingdom seeks to contribute to the global shift towards green industries and create a more sustainable model for industrial growth.
Alkhorayef invited the forum participants to
attend the International Mining Conference 2025, which will be held in Riyadh in January.
Source: Saudi Press Agency