The Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, revealed that 90% of companies in the sector are small and medium-sized enterprises (SMEs).
During a panel discussion at the “Industry and Mineral Resources Pioneers Week” organized by the General Authority for Small and Medium Enterprises, the minister emphasized the pivotal role of entrepreneurial projects in the sector. He noted that industrial technology applications have proven effective in solving many problems faced by large industries, thanks to the creativity and innovation of entrepreneurs. In the mining sector, established and tested technologies have met the needs for maintaining mines, environmental safety, and increased productivity.
Al-Khorayef highlighted the extensive support from the leadership, which has made the industry accessible not only to large companies but also to smaller entities, facilitated by a comprehensive system of services from licensing to financing.
He pointed out that the aim of the industrial system is not just to ease the entry of investors and entrepreneurs into the sector but also to ensure the sustainability of these projects, helping investors overcome challenges and navigate their journey clearly.
Regarding opportunities in the industrial sector, the minister mentioned that the mining sector currently offers significant opportunities for entrepreneurs, encouraging them to explore these prospects.
He also noted that the ministry has developed over 100 incentives and initiatives that entrepreneurs and SMEs can leverage in the industrial and mining sectors.
