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HomeUncategorizedSaudi industry minister, Hail governor discuss investment opportunities

Saudi industry minister, Hail governor discuss investment opportunities

Mon, 2021-07-05 02:12

HAIL:  Gov. Prince Abdul Aziz bin Saad bin Abdul Aziz of Hail region welcomed the Minister of Industry and Mineral Resources Bandar Al-Khorayef to his office on Sunday, the Saudi Press Agency reported.

Prince Abdul Aziz commended the government’s support for the industrial sector and cities rich in natural resources. He expressed his appreciation for the efforts exerted by the minister and ministry officials.

The meeting discussed issues related to the industrial and mining sectors in Hail, ways of boosting cooperation between the region’s principality and relevant government bodies, and ways to benefit from the economic, development and investment opportunities that the region offered.

Alkhorayef lauded the efforts being exerted by the governor and his support for industry and mineral wealth, noting that the future of investment in Hail was among the ministry’s plans aimed at advancing the industrial and mining sectors and benefitting from the region’s historical characteristics, geographical location and natural resources, which represented an important pillar of the Kingdom’s economy.

“Hail is one of the Kingdom’s promising regions in terms of contributing to the diversification of the national economy as it is a bridge that links the Kingdom’s northern regions,” he said. “This comes in addition to the existing plans aimed at maximizing the benefit from the region’s industrial components, especially in the areas of agriculture and mining, along with the various industries found in the region.

“Hail region is a priority when it comes to industrial and mining investments, as it has around 87 factories with a total authorized capital estimated at SR7 billion ($1.86 billion), while the Industrial Development Fund contributed by giving out loans with a total value that exceeded SR2 billion.” 

He pointed out that the region was characterized by the manufacturing of food products, chemicals and their products, along with rubber and plastic products. 

“It is also rich in natural mineral resources, such as granite, phosphate, silica sand, basalt and limestone, which are used in various industries, namely the manufacturing of fertilizers, glass, ceramics, paint, fabric, construction stones and decoration.”

 

 

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