Saudi Arabia's Minister of Industry and Mineral Resources, Bandar Al-Khorayef, emphasized that 2025 was a significant turning point in the development of the industrial and mining sectors in the Kingdom. He pointed out that these efforts resulted in record figures, with the industrial sector contributing approximately 502 billion Riyals to the Gross Domestic Product, while industrial exports reached 167.29 billion Riyals.
The year also saw the issuance of 1,660 new industrial licenses, with investments totaling 76.1 billion Riyals. Additionally, production commenced in 1,201 new factories with investments exceeding 31.2 billion Riyals.
Event Details
Regarding the mining sector, Al-Khorayef confirmed that the Kingdom has strengthened its position on the global map, reflected in its advanced rankings in the investment attractiveness index issued by the Fraser Institute. The annual report revealed the issuance of 2,925 mining licenses, with the value of mining exports approaching 56 billion Riyals.
Minister Al-Khorayef highlighted the successes achieved in facilitating the investor journey, noting that the time required to issue an industrial license has been reduced to just 48 hours, achieving a rate of 91.50% in the digital transformation measurement index. The early warning system for trade defense measures has also been activated to support fair competition, alongside the continued exemption of industrial facilities from foreign labor fees to enhance business stability.
Background & Context
These achievements come within the framework of Saudi Vision 2030, which aims to diversify national income sources and reduce dependence on oil. The Kingdom seeks to enhance the role of the industrial and mining sectors as two essential pillars of the national economy. Reports have shown that these sectors play a vital role in achieving sustainable development.
Historically, the Kingdom has witnessed significant transformations in the industrial sector, with the establishment of numerous factories and major projects that have contributed to boosting local production and providing job opportunities. Furthermore, foreign investments in this sector have seen a notable increase, reflecting confidence in the Kingdom's business environment.
Impact & Consequences
These achievements contribute to enhancing the Kingdom's competitiveness on both regional and international levels, making it an attractive destination for investors. Improving the business environment and streamlining procedures also helps attract more investments, thereby boosting economic growth and creating new job opportunities for citizens.
These positive trends are expected to continue in the coming years, as the ministry intends to build on these gains in 2026. Al-Khorayef confirms that these achievements have been made possible thanks to the unwavering support of the Custodian of the Two Holy Mosques and the Crown Prince.
Regional Significance
The Saudi experience in developing the industrial and mining sectors serves as a model for other Arab countries. Other nations can benefit from this experience to enhance their economies and diversify their income sources. Additionally, regional cooperation in the fields of industry and mining can contribute to achieving sustainable development in the region.
In conclusion, these achievements reflect the Kingdom's commitment to achieving the goals of Vision 2030 and enhancing its position as an industrial and mining hub in the region.