His Excellency the Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef, discussed—during an expanded meeting held in the German city of Munich with a number of investors and German company officials the promising investment opportunities in the Kingdom’s industrial and mining sectors, in addition to reviewing the key advantages, enablers, and facilities provided by the Kingdom to investors from around the world.
The meeting, which was attended by several leaders of the industrial and mineral resources ecosystem, discussed mechanisms for attracting qualitative investments in targeted sectors to achieve the objectives of the National Industrial Strategy, alongside exploring ways to enhance partnership and exchange expertise and experiences between the private sectors in both countries.
In this context, the Chairman of the Board of Directors of “City Arenas” Company, Mr. Mohammed bin Rashid bin Adwan Al-Mutairi, stated that His Excellency the Minister of Industry’s visit to the Federal Republic of Germany reaffirms the Kingdom’s serious plans to adopt the industrial and mining sectors as a strategic choice to diversify the national economic base, and to open broad horizons for international investors to benefit from promising investment incentives.
“Modon” paves the way for the food sector with multi-billion-dollar opportunities
In a related context, the Saudi Authority for Industrial Cities and Technology Zones (“Modon”) is participating—under the patronage of His Excellency the Minister of Industry—in the “Saudi Food” exhibition at the Riyadh International Convention and Exhibition Center, as the largest national food and beverage exhibition in the Middle East.
During its participation, “Modon” is showcasing a package of products, services, financial solutions, and logistical enablers for the food industries sector, aimed at facilitating business operations and supporting the competitiveness of the investment environment across 36 industrial cities throughout the Kingdom.
Through this participation, “Modon” seeks to:
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Enhance food security: Achieve the targets of the National Industrial Strategy by doubling sustainable growth, maximizing the value chain, and developing local content.
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Attract investments: Highlight the Kingdom’s progress across 12 food-related activities and attract targeted investment projects in the food sector worth up to $20 billion by 2035.
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Support exports: Exploit the comparative advantages of industrial cities to increase the value of national food exports to $10.9 billion.
These intensive movements come in alignment with the objectives of Saudi Vision 2030 to solidify the Kingdom’s position as a global industrial and logistical hub.