Saudi Arabia is offering over 120 enablers and incentives to attract investment in its mining sector, according to a top official. Minister of Industry and Mineral Resources Bandar Alkhorayef highlighted these opportunities during a recent meeting with investors at the Najran Chamber, as reported by the Saudi Press Agency. The enablers aim to address investment challenges and leverage promising opportunities within the sector. 

Alkhorayef emphasized that the ministry’s Industrial Fund is particularly focused on supporting the Najran region, known for its potential. The fund provides up to 75 percent financing for projects in the area. This initiative aligns with Saudi Arabia’s strategic goal to elevate mining as a key industrial pillar, with the Kingdom’s mineral wealth valued at SR9.4 trillion ($2.5 trillion) as of April 2024. 

The minister also recognized the Saudi Export-Import Bank’s role in enhancing the Kingdom’s exports and facilitating access to global markets. He noted that the national industrial strategy targets 12 sub-industrial sectors, which leverage regional natural resources and offer attractive opportunities for investors. 

During his visit to the Najran industrial city, Alkhorayef toured several factories, observed advancements in manufacturing technologies, and engaged with local investors. The industrial city, located northeast of Najran, is undergoing significant development with infrastructure investments surpassing SR100 million. Planned upgrades include a medium voltage network, energy enhancements, and the second phase of road and rainwater drainage developments covering 3.1 million square meters. 

According to Jarrah bin Muhammad Al-Jarrah, the official spokesman for the Ministry of Industry and Mineral Resources, the Najran industrial city spans 6.5 million square meters and houses 11 non-metallic mineral factories, five rubber and plastic plants, four food processing facilities, and additional sites for pharmaceuticals and paper products. The industrial sector in the region employs 6,256 workers, including 1,855 Saudis.