Saudi Arabia aims to leverage Morocco’s mining expertise, as both countries hold substantial reserves and produce over 40% of the world’s phosphate fertilizer, according to Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef. Speaking during a round-table with investors and businessmen in Morocco, Alkhorayef emphasized the potential for significant partnerships in major mining projects, reported the Saudi Press Agency.

This initiative aligns with Saudi Arabia’s goal to make the mining sector the third pillar of its national industry. Alkhorayef also highlighted the Kingdom’s National Industrial Strategy, focusing on sustainability, food security, pharmaceuticals, and military industries. He noted Saudi Arabia’s competitive advantages, including its oil and gas reserves and strategic geographical location, providing access to key regions such as Africa.

Alkhorayef pointed out the Kingdom’s strengths in emerging industries, such as car battery production, renewable energy, and space-related businesses. He stressed the importance of industrial integration between Saudi Arabia, neighboring countries, and Arab nations, citing the National Industrial Strategy’s pathways to enhance this integration.

The minister underscored the incentives and facilities Saudi Arabia offers investors in the industrial and mining sectors. Earlier this week, Alkhorayef and Moroccan officials discussed enhancing cooperation in vital fields, identifying promising investment opportunities and fostering sustainable partnerships.

During his official visit to Morocco, which began on June 3, Alkhorayef reviewed Saudi Vision 2030’s achievements with Moroccan opinion leaders and economic analysts, focusing on industrial and mining sectors. The visit aims to explore collaboration opportunities and strengthen economic ties between the two countries.

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