Saudi Arabia is encouraging Kuwaiti investors to tap into its expanding mining and industrial sectors. During a recent official visit to Kuwait, the Saudi minister of industry and mineral resources, Bandar Alkhorayef, met with local business leaders to highlight new investment prospects within the Kingdom.
The minister emphasized that Saudi Arabia’s mining sector holds significant potential, with mineral resources valued at over $2.4 trillion. He also pointed out the alignment of these opportunities with Saudi Vision 2030, which aims to diversify the national economy and position the country as a leading industrial and mining hub.
Alkhorayef outlined the National Industrial Strategy’s focus on developing key sectors such as food, pharmaceuticals, automotive, and aviation. He noted the government’s commitment to modernizing industry through advanced manufacturing technologies and digital infrastructure, as well as initiatives like the Factories of the Future program, which seeks to automate and upgrade industrial facilities.
The minister also highlighted Saudi Arabia’s advantages for investors, including its strategic location, robust infrastructure, rich natural resources, and streamlined business regulations. He encouraged Kuwaiti businesses to consider the wide range of incentives and support available for foreign investors.
In addition to meeting with business leaders, Alkhorayef held discussions with Kuwait’s ministers of commerce and oil. The talks focused on strengthening bilateral cooperation in oil, industry, and trade, as well as exploring new opportunities in the petrochemical sector and ways to boost joint investments and economic integration.
Saudi Arabia continues to adapt its financial incentive programs to attract high-quality investments and maximize returns, aiming to foster sustainable growth in partnership with regional allies like Kuwait.