Saudi Gazette report
RIYADH — Minister of Business and Mineral Assets Bandar Alkhorayef mentioned that Saudi Arabia is definite to grow to be one of many main international locations on this planet to contribute to produce chains normally.
Addressing the fifth session of the Provide Chains and Logistics Convention 2023 in Riyadh on Sunday, Al-Khorayef highlighted the Kingdom’s distinguished geographical location, saying that it qualifies the Kingdom to achieve all international locations of the world and permits it to offer the world with many capabilities, other than its industrial technique. The convention, the most important gathering of choice makers within the sectors of provide chains, providers and logistics, was themed “In the direction of a sustainable provide chain to spice up the round financial system.”
The minister mentioned that the economic technique relies on giant and robust capacities that make the Kingdom extra able to being in concord and maximizing financial advantages in order that it might leverage the capabilities of the native and regional markets. It additionally paves manner for Saudi Arabia to be a serious participant to produce many last or intermediate merchandise, the minister mentioned, including that this will solely be achieved with the presence of robust logistical providers and the examine of provide chains and completely different worth chains.
He acknowledged that there’s an initiative by the ministry to review 9,000 merchandise intimately for all provide chains, and the place the Kingdom could be a main participant by its location, whether or not from uncooked supplies to conversion into some merchandise that require vitality or minerals.
Alkhorayef mentioned that in all of the sectors recognized by the economic technique, there’s a clear program for methods for the Kingdom to take part in provide chains. In some sectors, corresponding to petrochemicals, there’s the flexibility to take part in most phases of the chain whereas within the mining sector, the Kingdom has confirmed to the world that it’s doable for a rustic alone to maximise the advantages in a complete method.
Relating to the auto trade, the Kingdom was in a position to create the sector in a brief interval, the minister mentioned whereas including that it’s in dialogue with one of many main worldwide vehicle corporations that has a big market share for manufacturing within the Kingdom