Minister of Industry and Mineral Resources Chairs Fifth Meeting of Industrial Council Second Session.

Riyadh: Minister of Industry and Mineral Resources, Bandar Alkhorayef, chaired the fifth meeting of the Industrial Council's second session on Sunday, focusing on the needs of industrial investors in Saudi Arabia and the challenges their investments face. According to Saudi Press Agency, the meeting included notable attendees such as Governor of the Zakat, Tax and Customs Authority, Suhail bin Mohammed Abanmi, Deputy Minister of Transport and Logistics, Dr. Rumaih Al-Rumaih, and Deputy Minister of Industry and Mineral Resources for Industrial Affairs, Eng. Khalil bin Salamah, along with representatives from relevant government agencies and the private sector. Alkhorayef emphasized the ministry's dedication to addressing challenges faced by industrial investors, covering areas such as industrial lands, financing needs, and workforce issues. The ministry is working closely with other government entities to streamline investor procedures and centralize regulatory processes, allowing applications to be processe d through a single point of contact. The minister also highlighted initiatives aimed at enhancing operational efficiency within industrial establishments. In collaboration with the Ministry of Energy, the Ministry of Industry has launched the Industrial Sector Competitiveness Program. This program assists factories in transitioning from liquid fuels to more efficient alternatives, mitigating the impact of energy and water pricing adjustments. Key topics at the meeting included leasing contracts for factories, investment contract regulations with leasing entities, transportation challenges within the industrial sector, and the government's facility purchase financing program. Council members reviewed these issues and explored potential solutions to support industrial investors. The Industrial Council aims to foster collaboration between the public and private sectors, offering a platform for government entities to gain insights from the private sector on strategies, priorities, and policies affecting the in dustrial sector. This cooperative approach is designed to establish frameworks and mechanisms to address sectoral challenges and implement practical solutions, enhancing cooperation to accelerate industrial development in the Kingdom.