Ministry Initiates 8 Mining Competitiveness Complexes in Riyadh and Eastern Region for Growth and Development

The Ministry of Industry and Mineral Resources Paves the Way for Growth with 8 Mining Competitiveness Complexes in Riyadh and Eastern Region

Riyadh: In a significant move, the Ministry of Industry and Mineral Resources has unveiled its strategy to enhance the mining sector’s “good governance” by allocating eight mining competitiveness complexes across Riyadh and the Eastern regions.

This forward-thinking initiative is a pivotal part of the ministry’s comprehensive plan to boost integrity within the sector, create an attractive environment for investments, and foster the holistic development of local communities.

The designated complexes for heightened competitiveness encompass Ghounan, Al-Misnah, Al-Samman, Ras Al-Qaryah, along with the two well-positioned Salwa complexes in the Eastern Region. Adding to this, the Al-Armah and Hofayrat Nesaah complexes are set to be established in the Riyadh Region.

The ministry’s visionary approach is aimed at incentivizing substantial investments in the mining domain, drawing in specialized companies, and bolstering economic activity while diversifying revenues in alignment with the overarching goals of the Kingdom Vision 2030.

Beyond economic objectives, the ministry is also dedicated to enriching the communities proximate to mining operations. By creating ample employment opportunities and driving local market engagement through augmented purchasing operations, the ministry aspires to uplift the socio-economic landscape of these areas.

In addition to its economic and community-centric endeavors, the ministry is steadfast in ensuring the sustainable growth of the mining sector. This includes fostering investor confidence, safeguarding invaluable natural resources, and shielding the environment from illicit practices that can harm its delicate balance.

As part of its all-encompassing approach, the ministry is actively encouraging local communities to play an integral role in the mining sector’s evolution. By actively participating in its growth, these communities can contribute to shaping the sector’s future trajectory.

In conclusion, the Ministry of Industry and Mineral Resources is steering the mining sector toward a new era of enhanced competitiveness and sustainable growth. With the allocation of these strategic mining complexes, Riyadh and the Eastern Region are poised for accelerated economic development, increased employment opportunities, and the realization of the transformative goals of the Kingdom Vision 2030.

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