Saudi Minister Emphasises Sustainable Partnerships For Industrial Growth At Como Forum 2024

Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef, addressing the Como Forum 2024 in Italy, emphasised Saudi Arabia's dedication to fostering global collaboration in the industrial sector. He highlighted the Kingdom's aim to forge robust partnerships with international industrial organisations to achieve a more balanced and sustainable future in industry.

The Minister elaborated on Saudi Arabia's economic transformation, guided by Saudi Vision 2030. This vision serves as a roadmap for diversifying the national economy's income sources. Alkhorayef noted that the forum's topics align with several objectives of this vision, especially those related to innovation, sustainability, and international cooperation.

Alkhorayef discussed the Kingdom's National Industrial Strategy, which aims to incorporate Fourth Industrial Revolution technologies. The strategy focuses on integrating artificial intelligence, automation, and data analytics to boost efficiency and productivity while promoting sustainability within the industrial sector.

The strategy also seeks to implement smart manufacturing technologies to advance Saudi industry. This approach aims to establish new standards for sustainable industrial practices, ensuring that the Kingdom remains at the forefront of industrial innovation.

The Minister highlighted mining as another crucial component of Saudi Arabia's economic transformation. Under Saudi Vision 2030, this sector is expected to diversify income sources for the economy. The Kingdom boasts significant reserves of critical minerals like gold, phosphate, and rare earth elements essential for energy transition.

Alkhorayef stressed Saudi Arabia's commitment to sustainability in industry by relying on clean energy solutions. The integration of renewable energy into industrial processes is part of achieving net-zero emissions by 2060. This aligns with the Kingdom's goal of contributing to a global shift towards green industries.

Invitation to Future Events

The Minister invited forum participants to attend the International Mining Conference 2025 in Riyadh next January. This event will further explore opportunities within the mining sector and its role in economic diversification.

Saudi Arabia aims to create a more sustainable model for industrial growth through these initiatives. By focusing on innovation and sustainability, the Kingdom seeks to lead in establishing new benchmarks for industrial development globally.

With inputs from SPA