Saudi Arabia calls on world industry
leaders to attend Riyadh forum
Saudi Arabia has extended an
invitation to global industry leaders to participate in the 2024 Multilateral
Industrial Policy Forum (MIPF), set to take place in Riyadh on October 23-24,
2024. The announcement was made during a pre-launch event in New York,
organized by the Ministry of Industry and Mineral Resources in partnership with
the United Nations Industrial Development Organization (UNIDO).
The event also highlighted Saudi
Arabia's plans to host the 21st General Conference of UNIDO in 2025, which will
bring together global industry ministers and leaders in industrial
transformation, alongside officials from Saudi Arabia's industrial and mining
sectors.
Key figures in attendance included
Faisal Alibrahim, Minister of Economy and Planning; Abdullah Alrabeeah,
Supervisor General of King Salman Humanitarian Aid and Relief Centre; and Jasem
Albudaiwi, Secretary General of the GCC.
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In his opening remarks, Minister of
Industry and Mineral Resources Bandar Alkhorayef emphasized the transformative
changes occurring in Saudi Arabia as part of Vision 2030. He stressed the
Kingdom's commitment to economic diversification and the development of new
sectors, particularly in industry and mining, which are critical for building a
resilient economy.
Alkhorayef noted Saudi Arabia’s
proactive stance on global industrial challenges, including supply chain
resilience and energy transitions. He highlighted the need for investment in
workforce development, with a strong focus on technology and innovation, as the
country aims to triple the industrial sector's contribution to GDP, targeting
around $241 billion by 2030.
The Minister also announced that
Saudi Arabia has attracted $144 billion in foreign investment and aims to
expand industrial exports to $150 billion by 2030, further cementing its role
as a competitive player in the global industrial landscape.
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The MIPF will focus on key global
industrial policy challenges, including collaboration for innovative solutions,
clean energy adoption, and advanced digital manufacturing technologies such as
artificial intelligence. The forum aims to share best practices for enhancing
supply chain resilience.
Saudi Arabia’s bid to host the 21st
General Conference of UNIDO in 2025 was unanimously supported by the
organization’s 172 member states, further showcasing the Kingdom's growing
influence in global industry.
Source: Saudi Gazette
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