22/06/2026 04:08 AST
Saudi Arabia showcased investment opportunities across its $2.5 trillion mineral resource base and downstream industrial sectors to French and European partners during the Gulf Vision 2026 Forum in Paris.
During the event, Khalid Al-Mudaifer, Saudi Arabia's vice minister of industry and mineral resources for mining affairs, highlighted the Kingdom's economic transformation under Vision 2030, highlighting key achievements in the industrial and mining sectors, according to an official press statement shared on X.
The vice minister also underscored the achievements made by the Kingdom in the industry and mining sectors and outlined opportunities for strengthening bilateral ties in key sectors.
The Vision 2030 program aims to unlock more than $2.5 trillion in mineral resources, including gold, copper, zinc, phosphates, aluminum and rare earth elements. This initiative seeks to diversify Saudi Arabia's revenue sources while strengthening its position in global supply chains.
In May, the Kingdom's Ministry of Industry and Mineral Resources revealed that the country issued 80 new mining licenses in March, compared to 38 in February, as the country continued to strengthen its efforts to position the sector as the third pillar of the nation's economy.
"The minister emphasized the Kingdom's commitment to providing a favorable investment environment, supported by modern legislation and incentives, which has made the Saudi mining sector an attractive destination for international investors," the post said.
During the forum, Al-Mudaifer held several meetings with French officials and representatives of major French companies specializing in mining and related industries.
The discussions focused on strengthening cooperation in mining investment, technology transfer, and joint ventures, with particular emphasis on mineral exploration, sustainable mining practices, and expanding the mineral value chain.
The vice minister also pointed to the investment opportunities available in the Saudi mining sector, which is witnessing rapid growth, supported by the Kingdom's ambitious plans to increase the sector's contribution to gross domestic product.
The ministry statement underscored Saudi Arabia's focus on deepening partnerships with France in mining, critical minerals, advanced manufacturing, and related fields as part of broader efforts to promote sustainable development and investment.
Al-Mudaifer also reviewed the ministry's initiatives to localize mining technologies and develop national competencies in this vital sector.
The vice minister highlighted the role of the National Industrial Development and Logistics Program in advancing the Kingdom's industrial ambitions by bringing together the industry, mining, energy and logistics sectors under a unified national strategy. He noted that the program has helped expand Saudi Arabia's industrial capabilities, strengthen local value chains, improve logistics networks, and enhance the global competitiveness of Saudi products, the Saudi Press Agency reported.
He added that Saudi Arabia's ambitions extend beyond developing its mineral resources, with a strong focus on building integrated industrial value chains that support long-term economic and industrial growth.
The ministry's participation in the Gulf Vision 2026 forum forms part of its broader efforts to attract foreign investment and forge strategic partnerships that support the development of Saudi Arabia's mining sector under Vision 2030.
Arab News
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