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The Latest Breaking News from Bandar Alkhorayef

MODON Receives International Accreditation

The Saudi Authority for Industrial Estates and Technology Zones (MODON) received an accreditation certificate from the European Foundation for Quality Management (EFQM), for the four-star category, for applying quality and institutional excellence concepts. MODON is working to create the appropriate infrastructure to encourage local and international factories to access the…

Asharq Al-Awsat

Saudi PIF to Inject $266 Bn into New Projects

The Saudi Public Investment Fund invested nearly $1.3 billion in four national companies in the contracting sector during the last period, announced Governor Yasser al-Rumayyan. Rumayyan announced the establishment of a general department for national development to determine the strategic directions in economic development and measuring impact. The group launched…

Asharq Al-Awsat

Saudi Industrial Investments Target $260 Bln

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef called on the industrial business sector to take advantage of opportunities available in the Kingdom, noting that there are 12 sectors that have been targeted by 64 initiatives. Speaking at the Sixth Riyadh Industrialists Council meeting organized by the Riyadh Chamber…

Asharq Al-Awsat

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Saudi Arabia Seeks to Promote 4th Industrial Revolution Technologies to Raise Productivity

Saudi ministers have revealed the Kingdom’s determination to harness technology in diversifying the economy, with the launching of new investments and activating the full potential of the fourth industrial revolution technologies in various sectors. Speaking during a session held on the first day of the LEAP 2023 conference in Riyadh,…

Asharq Al-Awsat

Saudi Arabia Accelerates Transition to Clean Energy

The second edition of the Future Minerals Forum kicked off in Saudi Arabia under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz. The Forum aims to develop dialogue on the future of minerals and investment in mining and boost cooperation throughout the area extending…

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60 States Agree to Transform Region into Major Bridge for Int’l Transition to Renewable Energy

More than 60 government ministers and delegations responsible for their countries’ minerals and metals strategies attended on Tuesday the second Ministerial Roundtable hosted by Saudi Arabia's Ministry of Industry and Mineral Resources in the largest-ever meeting of its kind. The ministers agreed that minerals are necessary to build a cleaner…

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Saudi Arabia Aims to Boost National Automotive Industry

The Saudi Ministry of Industry and Mineral Resources signed a memorandum of understanding with Hyundai Motor Company to promote the automotive industry in the Kingdom. The MoU was signed in the presence of the Minister of Industry and Mineral Resources, Bandar al-Khorayef, and the Minister of Economy and Planning, Faisal…

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Riyadh, Beijing Seek to Increase Cooperation in Housing, Mining and Industry Projects

Saudi Arabia and China are seeking to form a joint working group on cooperation in the field of housing, within the mechanism of the Trade and Investment Subcommittee, to enhance exchanges at the governmental level, and coordinate policies and planning. Areas of cooperation include the exchange of development plans, policies,…

Asharq Al-Awsat

176 Industries Localized in Saudi Arabia with Investments Exceeding $34 Billion

The Saudi Local Content Coordination Council revealed that the value of opportunities that were developed and launched in the Kingdom during the past year, with the aim to increase local content, reached about 24.8 billion riyals ($6.6 billion). In parallel, 176 industries were localized in three years from 2019 to…

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Saudi Arabia to Adopt Strategy to Stimulate Development, Innovation and Research

Senior Saudi government officials revealed serious trends towards activating development, innovation and research within the framework of the country’s transformation plan, disclosing the imminent completion of a strategy dedicated to research and development. The Ministry of Education launched on Wednesday in Riyadh, the first dialogue conference, entitled “Integration and Sustainable…

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Saudi Arabia to Manufacture, Export more than 150,000 Electric Cars by 2026

Saudi ministers said that they were working together to advance the industrial sector and achieve the goals of the National Industrial Strategy, which was launched by Crown Prince Mohammad bin Salman on Tuesday. They added that talks were underway with international companies to establish a center for car manufacturing in…

Asharq Al-Awsat

Saudi Arabia’s National Industrial Strategy to Boost Global Trade, Supply Chains Partnerships

Saudi Minister of Industry and Mineral Resources Bandar AlKhorayef affirmed on Wednesday that the National Industrial Strategy (NIS) is an essential tool for diversifying the Kingdom’s economic base. Crown Prince Mohammed bin Salman launched on Tuesday NIS to realize the objectives of the Saudi Vision 2030.

Asharq Al-Awsat

Saudi Arabia Seeks to Strengthen Steel Industry

Saudi ministers revealed an endeavor to strengthen the iron and steel industry in the Kingdom, in parallel with plans to launch economic zones and initiatives to advance local supply chains and logistics. Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef announced that the ministry was working through the National…

Asharq Al-Awsat

Saudi Arabia Imposes Baseline for Drug Manufacturers Entering Gov’t Competitions

Saudi authorities have ordered pharmaceutical manufacturers to quickly complete the baseline calculation of their local content to avoid exclusion from government tenders to be made by the National Unified Procurement Company (NUPCO). The Local Content and Government Procurement Authority, at the end of 2021, revealed the signing of four agreements…

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Asharq Al-Awsat

Saudi Arabia Develops 33 Tools to Protect National Products

Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef said that the Saudi market has contributed to building strong local industries that compete in international markets, adding that work was underway to develop 33 tools that limit unfair competition practices. Saudi Arabia joined the World Trade Organization (WTO) in 2005…

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Saudi Minister of Industry: We Have Identified 50 Mining Sites to Offer to Investors

Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef said that the Kingdom has identified 50 sites that are believed to contain minerals in commercial quantities.

Asharq Al-Awsat

Saudi Investment Opportunities in Vaccines, Vital Medicines Worth $3.4 Bn

Saudi Arabia announced substantial investment opportunities in vaccines and medicines worth $3.4 billion, aiming to realize the Kingdom's goals of achieving pharmaceutical and health security and making Saudi Arabia an important center for this promising industry. Minister of Industry and Mineral Resources Bandar al-Khorayef explained that the ministry is keen…

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Foundation Stone Laid for First Lucid Plant in Saudi Arabia

US-based Lucid Motors on Wednesday laid the foundation stone for its first-ever electric car plant outside the US at King Abdullah Economic City (KAEC) in the Saudi western city of Rabigh. Minister of Industry and Mineral Resources Bandar Alkhorayef announced that Saudi Arabia is targeting manufacturing of more than 300,000…

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Saudi EXIM Launches New Strategy to Reach Global Markets

The Saudi Export-Import Bank (EXIM) launched a new strategy to facilitate national non-oil exports to reach global markets for the next five years. The strategy enables Saudi non-oil exports to reach global markets by closing financing gaps and reducing export risks. It focuses on maximizing the economic impact of the…

Asharq Al-Awsat

Saudi Arabia to Attract Investments Worth $32 Bln in Mining, Minerals Sector

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef said Friday that the ministry has a goal to attract investments worth $32 billion to its mining and minerals sector through nine new projects. The projects are aimed at supporting supplies of mineral products to local and international markets. Alkhorayef added…

Asharq Al-Awsat

Saudi Arabia to Attract Investments Worth $32 Bln in Mining, Minerals Sector

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef said Friday that the ministry has a goal to attract investments worth $32 billion to its mining and minerals sector through nine new projects, state news agency SPA reported. The projects are aimed at supporting supplies of mineral products to local…

Asharq Al-Awsat

Saudi Joint Team to Ensure Implementation of Industrial, Energy Projects

Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef revealed that the Ministry of Energy and Saudi Aramco are working closely to create a joint team and ensure that related projects are progressing appropriately, including those of the “In Kingdom Total Value Add” (IKTVA) program for the supply sector.…

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