facet of Assembly with main worldwide industrial firms
Throughout a roundtable assembly with main worldwide industrial firms within the German metropolis of Dusseldorf, the Minister of Trade and Mineral Assets, Bandar bin Ibrahim Al-Khorayef, referred to as on buyers to put money into the qualitative alternatives obtainable within the downstream chemical industries and superior manufacturing applied sciences within the Kingdom, and to profit from the capabilities supplied to facilitate their funding journey.
Al-Khorayef defined throughout his speech on the assembly held on the sidelines of the “Ok Present 2025” exhibition in Germany – as reported by the Saudi Press Company – that the petrochemical sector within the Kingdom is witnessing speedy growth in direction of changing petrochemical merchandise into downstream industries to maximise the financial affect, stressing that the Kingdom offers incentives and enablers to draw native and world investments within the downstream sector.
He additionally reviewed the aggressive benefits of the commercial funding setting within the Kingdom, together with certified human capabilities, geographical location linking three continents, abundance of pure sources, aggressive power costs, superior infrastructure and superior industrial cities, which make the Kingdom a promising vacation spot for industrial investments.
Al-Khorayef pointed to the financial and industrial transformation that the Kingdom is witnessing inside its Imaginative and prescient 2030, and the important function that business performs as an important pillar of financial diversification, noting the Nationwide Technique for Trade that leads the journey to attain these nationwide targets.
He pointed to the function of the Superior Manufacturing and Manufacturing Heart in supporting industrial transformation, via the Ministry’s initiatives to undertake automation and fashionable applied sciences, such because the Future Factories Programme, which goals to speed up the adoption of 4,000 factories of Fourth Industrial Revolution applied sciences, and the Industrial Lighthouses Programme, which goals to allow nationwide factories to undertake the newest superior applied sciences and enhance their manufacturing effectivity, along with the community of Capability Facilities and the Operational Excellence Programme.
The assembly comes as a part of the official fall go to to the Federal Republic of Germany, throughout which he heads the delegation of the commercial and mining system taking part within the worldwide commerce exhibition for the plastics and rubber business “Ok Present”, inside the framework of strengthening worldwide industrial partnerships, exchanging experiences, transferring data and expertise, and attracting qualitative investments.
