Riyadh, August 15, 2023, In a recent announcement, the Ministry of Industry and Mineral Resources revealed its plans to allocate eight mining competitiveness complexes in the regions of Riyadh and Eastern Saudi Arabia. As part of the ministry's comprehensive strategy to enhance the sector, a new initiative has been launched to promote "good governance." This initiative seeks to bolster integrity, attract investment, and facilitate local community development. In the Eastern Region, several complexes have been earmarked for fostering competitiveness. These include Ghounan, Al-Misnah, Al-Samman, Ras Al-Qaryah, and the eastern and western Salwa complexes. In a further development, it has been announced that two additional complexes are set to be established in the Al-Armah and Hofayrat Nesaah areas of the Riyadh Region. The ministry has set its sights on stimulating investment in the mining industry, enticing specialized companies to enter the market, and bolstering economic activity and non-oil revenues in alignment with the goals outlined in the Kingdom Vision 2030. In addition, the ministry is actively working towards bolstering the growth of nearby communities impacted by mining operations. Their efforts include creating job opportunities and fostering local economic participation by expanding purchasing operations. The ministry has outlined several crucial objectives, which include prioritizing the long-term viability of the mining sector, bolstering investor trust, protecting valuable natural resources and the environment from illicit activities, and fostering active participation from local communities to drive the expansion of the mining industry.
