Bandar Al -Kharf, Minister of Business and Mineral Sources
Bandar Al -Kharf, Minister of Business and Mineral Sources, revealed a gaggle of precedence sectors which might be anticipated to witness wider cooperation between Saudi Arabia and South Africa through the coming interval, most notably the renewable vitality sectors, mining, medication, tourism, and the auto sector.
The autumn stated in his response to a query numbers On the sidelines of the South African Saudi Enterprise Discussion board, these sectors characterize nice alternatives for cooperation, stressing that there’s a risk to work in different areas in addition to the development and development sector that’s witnessing mutual investments, however the precedence is at present for the sectors which have been recognized, with the expectation of strengthening partnerships within the subsequent 12 months.
He added that the work between the Kingdom and South Africa witnessed a tangible transfer after the go to of the President of South Africa in 2022, expressing the existence of nice joint ambitions, particularly within the mining sector.
He identified that South Africa has beforehand preceded the Kingdom within the fields of mining, which makes it a super companion to draw firms and experience specialised in mining companies and applied sciences, along with partnerships between Saudi traders and their South African counterparts to help this sector within the Kingdom.
The autumn indicated that the assembly witnessed the presentation of a transparent and sensible program for the personal sector, throughout which the financing was mentioned, the permissibility of licenses and insurance policies, and clarification of the Kingdom’s packages, whereas emphasizing the conversion of those outcomes right into a actuality quickly.
On industrial funding alternatives, the minister confused that the automotive and pharmaceutical sectors characterize areas with nice alternatives, whereas he pointed to the capabilities of integration between pure assets in South Africa and manufacturing capabilities within the Kingdom, pointing to the geographical location of the Kingdom and the vitality sector as factories that qualify it to be a world competitor.
He additionally revealed joint initiatives that exist between Saudi firms and their South African counterparts, most notably cooperation within the halal meat sector, mining, and constructing an industrial base associated to automobiles, including that the Kingdom is working to facilitate any challenges going through these initiatives to help their development.
On the hydrogen business within the Kingdom, he referred to the massive hydrogen mission that targets export and advantages the economic sector within the industrial metropolis in NEOM, explaining that the mission will probably be one of many largest international hydrogen producers quickly.
