Naimi said. At present the Kingdom's mining sector contributes only two percent of the gross domestic product and employs 47,000 people. Officials and experts would exchange information on the best ways to attract foreign investment. They will also discuss the rules and regulations for mining licenses as well as prospects of establishing joint projects. The mining sector offers continuous development, creates new job opportunities and ensures diversification of revenues in addition to transfer of modern technology and expansion of infrastructure facilities. "We expect that the seminar would help achieve coordination among Arab countries in order to establish joint projects and set up a technical database that is essential for Arab and foreign investors," Al-Naimi said. The minister described the new mining investment law in the Kingdom as a major achievement, adding that it would help attract more foreign investors to the sector. The law, which was passed by the Cabinet on Sept. 13, 2004, is expected to make the mining sector the third pillar of the economy, alongside hydrocarbons and petrochemicals. --MORE 1107 Local Time 0807 GMT
