Riyadh - Sharikat Mubasher: Saudi Arabia sets sights on boosting private sector investments in the downstream industries sector, capitalizing on the rapid growth that the Kingdom witnesses, Khalil Salamah, Deputy Minister of Industry and Mineral Resources for Industry Affairs, stated.
In his opening remarks at the International Industry Week 2024, Salamah revealed that the Kingdom aims to enhance cooperation between primary and downstream industry companies to develop businesses and create new jobs.
He affirmed that the ministry works on maximizing the current production capacity as it formed a committee for the integration of petrochemical supply chains to tackle all challenges related to the availability and competitiveness of petrochemical materials.
Salamah noted that Saudi Arabia plays a leading role in the petrochemicals sector which enables it to expand in petrochemicals supply chains and drive economic growth.
Furthermore, the official said that attracting private sector investments is an integrated part of the Kingdom’s strategy to broaden its industry base and diversify the national economy.
The International Industry Week 2024 took place in Riyadh from 6 to 9 May, gathering over 10,000 industrial leaders from around the world.
It showcased the most pioneering technologies and solutions to streamline industrial operations across the value chain, serving as a platform to connect with industry leaders, explore the latest innovative developments in the sector, and exchange expertise, experiences, and investment opportunities.