The Minister of Industry and Mineral Resources Bandar Bin Ibrahim Al-Khorayef affirmed that there is a clear direction from the wise leadership of the Kingdom of Saudi Arabia in empowering and supporting the industrial sector, which represents an important source of the Kingdom's Vision 2030 goals. The vision aims in all its directions towards diversifying the economy and the well-being of the citizen in its various regions, and is determined to develop the industrial sector and make important leaps in the technologies of the Fourth Industrial Revolution. During an open meeting with a number of investors, businessmen, entrepreneurs and youth in Qassim region, the minister explained that the Ministry is working to direct the sector and enact policies and legislation that will ultimately achieve this goal. Al-Khorayef indicated that, during the past year, nearly 212 loans were approved by the Saudi Industrial Development Fund, with a total amounting to about SR17 billion, which is an unprecedented number since the establishment of the fund. This is in addition to speeding up the procedures and preparing the infrastructure needed by the industrial sector through the Saudi Authority for Industrial Cities and Technology Zones — Modon. Al-Khorayef stressed the ministry's determination to develop the industrial sector and create new industries based on innovation and digital technologies, in addition to developing performance. — SPA
