Riyadh, Saudi (CU)_ Bandar Alkhorayef, Minister of Industry and Mineral Resources, announced that despite the exceptional situation created by the pandemic outbreak in 2020, Saudi’s trade performed well during the time and was able to trade its goods to over 178 countries around the world. He expressed pride over the Kingdom for owning a powerful industry that helps it to compete internationally despite the greatest challenges caused by the pandemic. He added that the country managed the trade sector well during the pandemic.
In a Saudi Television program named ‘In Public’, the Minister spoke about the outstanding features and performance of Saudi Arabia’s industrial sector during the pandemic period. He elaborated about the strong industrial foundation of the country and its performance capabilities during tough times like pandemic. He said, “The Saudi industry was built on a strong foundation, as the Kingdom represents an open market with a low rate of custom duties. These factors have created a solid industry that enabled Saudi products to spread to more than 178 countries around the world in 2020”.
Alkhorayef said that sustaining the stability between human safety and the ministry’s efforts in distributing the global markets with different products was the greatest challenge encountered by the industrial sector during the pandemic time. He said that the Kingdom’s market is open and its customs duty rates are very low and there are no trade barriers. He added that the kingdom manufactures gas-insulated high-voltage switchgear (GIS) and its exports in the pharmaceutical sector totaled SAR 1.5 billion.
He added, “Saudi Arabia is one of the best countries to deal with the pandemic, especially after the ministry had succeeded in providing food products and medical supplies and meeting the continuous increase in demand”. In the industrial sector, more than 35,000 new job opportunities were generated in 2020, targeting one-third of Saudi people. In addition, the sector has attracted over SAR 23 billion worth of investment. By 2030, the Ministry of Industry plans to build one million jobs.
