To become a leading mining sector locally, Saudi Arabia is striving to become an important partner on the global mining map. This has resulted in the world's largest mining companies from across the globe visiting the Kingdom to understand local investment opportunities better and subsequently bid for mining exploration licenses.
The Kingdom's blueprint for economic diversification, 'Vision 2030' seeks to transform mining into the third pillar of the national industry, alongside oil and petrochemicals. The country has provided free access to geological data through the Saudi Geological Survey. Such data is essential to de-risking investment in the sector, helping to facilitate investments.
In addition, Saudi has created a competitive investment environment, by developing its mining jurisdiction following benchmarking against the world's leading mining ecosystems. Also, with the inputs of local and international sector experts and investors, it has updated its legislative and regulatory environment to ensure transparency regulations supported by attractive investment incentives.
Saudi also integrated value chains in the mining industries to provide incentives to investors committed to sustainable mining at all stages, from exploration to the end consumer. This will help investors reap profits and also create jobs for Saudi Arabia's citizens, supporting the Kingdom to become a global leader in the field.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
The Kingdom's blueprint for economic diversification, 'Vision 2030' seeks to transform mining into the third pillar of the national industry, alongside oil and petrochemicals. The country has provided free access to geological data through the Saudi Geological Survey. Such data is essential to de-risking investment in the sector, helping to facilitate investments.
In addition, Saudi has created a competitive investment environment, by developing its mining jurisdiction following benchmarking against the world's leading mining ecosystems. Also, with the inputs of local and international sector experts and investors, it has updated its legislative and regulatory environment to ensure transparency regulations supported by attractive investment incentives.
Saudi also integrated value chains in the mining industries to provide incentives to investors committed to sustainable mining at all stages, from exploration to the end consumer. This will help investors reap profits and also create jobs for Saudi Arabia's citizens, supporting the Kingdom to become a global leader in the field.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
