ASIATODAY.ID, RIYADH — The Investment Council of Saudi Arabia held its third meeting on Monday, hosted by the Ministry of Industry and Mineral Resources, reaffirming the Kingdom’s determination to position itself as a global hub for mineral and downstream industrial investment.
The meeting was chaired by Minister of Investment Khalid Al-Falih and attended by Minister of Industry and Mineral Resources Bandar Alkhorayef, along with senior government officials, industry leaders, and international investors.
The discussion focused on advancing the National Investment Strategy with an emphasis on expanding the mining and mineral sectors as key engines of economic diversification under Vision 2030.
Unlocking Saudi Arabia’s Vast Mineral Wealth
Saudi Arabia is estimated to hold more than $2.5 trillion in untapped mineral resources, including nickel, copper, gold, phosphates, and rare earth elements. The Investment Council discussed strategies to attract foreign direct investment (FDI) into mining, strengthen downstream processing, and accelerate the growth of value-added mineral industries, such as battery minerals and industrial metals.
Minister Bandar Alkhorayef emphasized that the National Industrial Strategy is now closely integrated with mining development and localization programs.
“Our goal is to make Saudi Arabia a global hub for mineral-based industries — from exploration to advanced manufacturing,” he stated on October 28, 2025.
The ministry also presented updates on the Industrial Sector Competitiveness Program and the Standard Incentives for the Industrial and Mining Sectors, both designed to enhance infrastructure in industrial and mining cities and attract strategic investors.
Driving Economic Diversification Through Mining
Minister Khalid Al-Falih highlighted that investment in the mineral sector is a cornerstone of Saudi Arabia’s economic diversification strategy.
“The mining and minerals industry represents the new frontier of Saudi Arabia’s post-oil economy. Investments in this sector will broaden our industrial base and create high-quality job opportunities,” he said.
The meeting also underscored the importance of public-private partnerships (PPP) to accelerate exploration, promote technology transfer, and ensure the adoption of sustainable and ESG-aligned mining practices.
Part of a Broader National Investment Ecosystem
This session follows two previous Investment Council meetings held in collaboration with the Ministry of Economy and Planning and the Capital Market Authority. The series of meetings reflects Saudi Arabia’s ongoing commitment to building a resilient and sustainable investment ecosystem.
By aligning the National Investment Strategy with the National Industrial and Mining Strategies, Saudi Arabia continues to advance its ambition to become a global powerhouse in mineral investment, driving innovation, sustainability, and long-term prosperity in line with Vision 2030. (SPA)
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