At the prestigious World Economic Forum in Davos, Saudi Arabia’s Minister of Industry and Mineral Resources highlighted the Kingdom’s drive to become a more alluring destination for global investments, emphasizing the nation’s pursuit of transparency and competitiveness.
Participating in the “Industrial Policy 2.0” discussion, the minister outlined the country’s strategic “three-dimensional approach” in policy formulation. This method is designed to harmonize national objectives, optimize the use of natural resources, and deliver favorable outcomes for the international investment community.
The minister underscored the importance of governments staying nimble and responsive in updating their industrial and investment strategies, particularly in light of the current volatile geopolitical environment. He remarked, Policies have an expiry date. They don’t last forever, so we need to be mindful of this and move toward adjustment.
Additionally, on the same day, the minister conducted a series of engagements with top executives from prominent global companies and organizations. Meetings took place with leaders from the London Metal Exchange, Medtronic, GEA Group, Clariant, Umicore, and BHP.
During these consultations, avenues for bolstering collaboration in the industrial and mining sectors were explored, along with the discussion of Saudi Arabia’s enticing investment prospects in these areas. Trade exchange opportunities and strategies for amplifying the footprint of Saudi non-oil exports in the international marketplace were also key points of conversation.
The minister’s interactions are part of the broader efforts by the Saudi delegation at the World Economic Forum, which runs from Monday to Friday. The delegation’s mission is to lay down sustainable frameworks for a prosperous future while participating in high-level dialogues that demonstrate the Kingdom’s capabilities and willingness to partner with global entities across various sectors.