Saudi Arabia's Ministry of Industry and Mineral Resources has announced the allocation of eight mining competitiveness complexes in Riyadh and Eastern regions. 

 

This initiative is part of the ministry's plan to promote "good governance" in the sector, aiming to improve integrity, attract investment, and foster local community development, reported SPA.

 

The complexes designated for competitiveness include Ghounan, Al-Misnah, Al-Samman, Ras Al-Qaryah, as well as the eastern and western Salwa complexes in the Eastern Region. Additionally, two other complexes will be established in the Al-Armah and Hofayrat Nesaah, Riyadh Region, it stated.

 

The ministry aims to incentivize investment in the mining industry, attract specialized companies, and contribute to the growth of economic activity and non-oil revenues in line with the Kingdom Vision 2030 objectives.

 

Furthermore, the ministry seeks to support the development of local communities surrounding mining activities by providing employment opportunities and promoting local market engagement through increased purchasing operations, reported SPA.

 

Other key priorities for the ministry include ensuring the sustainability of the mining sector, instilling investor confidence, safeguarding natural resources and the environment against illegal practices, and encouraging local communities to actively contribute to the growth of the mining sector, it added.