Saudi Industry Minister: Egypt is a Key Player, We Seek More Collaboration

By Ahmad El-Assasy

Saudi Industry and Mineral Wealth Minister, Bandar Al-Kharif, acclaimed Egypt's significant role and expressed a keen interest in deepening ties. Speaking on Egypt's involvement at the mining conference, Al-Kharif expressed his admiration for Egypt's high-level representation and the quality of the discussions they contributed.

"Our aspiration is to have more collaboration with Egypt, which we consider a key and fundamental player. The representation and quality of discussions have been exceptional, and we view Egypt as a partner in this conference," Al-Kharif said during his guest appearance on "Up Close," a show hosted by journalist Amal Al-Hanawi on "Cairo News" channel.

He added, "Preparations for next year's conference are in full swing. Most of the major global companies participated at the highest level in the last conference, including service providers, investment banks, technology providers, and research centers."

Al-Kharif emphasized the challenge of maintaining this high standard in the upcoming iteration of the conference.

The Saudi Industry and Mineral Wealth Minister affirmed that industry is one of the most important investment sectors. He noted that current global economic conditions create a sense of anxiety among investors, and part of their role is to provide reassurance.

"In Saudi Arabia, Saudi and foreign investors alike enjoy the same benefits, with encouraging prices and project financing. The Industrial Development Fund is one of the key entities contributing to the financing of various types of industrial projects, providing up to 75% of the project value. This financing doesn't differentiate between Saudi and non-Saudi investors," Al-Kharif added.

Al-Kharif concluded: "Today, in the Kingdom, the regulations concerning local content encourage and prefer locally manufactured products, ensuring market share for investors within the market."

Keywords: Saudi Industry Minister, Bandar Al-Kharif, Egypt, mining conference, collaboration, industry, investment sectors, global economic conditions, investors, Saudi Arabia, Industrial Development Fund, local content, market share.