Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Alkhorayef, stated that small and medium enterprises (SMEs) comprise 90 percent of companies in the industrial sector.
During a dialogue session at the industry and mineral resources pioneers’ week organized by the Small and Medium Enterprises General Authority (Monsha’at), Alkhorayef highlighted the crucial role of innovative projects in the sector. He noted that industrial technical applications have effectively addressed various challenges faced by large industries, while advancements in mining technology focus on preserving resources, protecting the environment, and enhancing productivity.
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Alkhorayef underscored the importance of not only facilitating entry for investors and entrepreneurs but also ensuring the sustainability of their projects. This includes helping them navigate challenges and providing clear guidance throughout their investment journey.
He identified the mining sector as a significant opportunity for entrepreneurs, supported by increasing investor interest, and encouraged them to tap into its potential. Alkhorayef also mentioned that the ministry has introduced incentives and initiatives in the industrial and mining sectors that entrepreneurs and SME owners should leverage.
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