Minister of Industry: Restructuring the Iron Sector Attracts Global Investments
The Minister of Industry and Mineral Resources inaugurated the third Saudi International Iron and Steel Conference in Riyadh. The conference is organized under the patronage of the Ministry of Industry and Mineral Resources and was attended by the Egyptian Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, along with a group of decision-makers, experts, and investors in this vital sector.
During his opening speech, the Minister emphasized that the significant development in the iron and steel sector in the Kingdom aligns with the goals of Saudi Vision 2030. He highlighted the importance of enhancing dialogue about the sector’s future and building effective partnerships to support its growth and sustainability. He also noted that the national plan to restructure the iron sector enhances its competitiveness and increases its attractiveness to local and global investments.
Developing National Competencies
The Chairman of the National Committee for the Iron Industry called for the adoption of a comprehensive national strategy that links the sector’s policies with investment and value chains. He stressed the importance of accelerating the transition towards value-added products and establishing a Saudi steel academy to help develop national competencies.
The conference, held at The Arena – Riyadh, brings together representatives from more than 35 countries under one roof. It also attracts major global steel and iron companies and investors to discuss the future of this sector and its pivotal role in achieving the goals of Saudi Vision 2030.
The Arena – Riyadh
The Arena is a major multi-purpose indoor stadium in Riyadh, Saudi Arabia, which opened in 2014. It was built to host a variety of large-scale events, including sports, concerts, and exhibitions, as part of the city’s King Abdullah Financial District development. The venue has since become a key hub for entertainment in the capital.
Saudi International Iron and Steel Conference
The Saudi International Iron and Steel Conference is a major industry event that serves as a key platform for discussing the future of steelmaking in the region. It was established to support the growth of the domestic metal sector, which is a crucial part of Saudi Arabia’s Vision 2030 plan to diversify its economy beyond oil. The conference brings together international experts to showcase technology, address supply chain challenges, and explore sustainable production methods.
Saudi Vision 2030
Saudi Vision 2030 is a strategic framework launched in 2016 to reduce Saudi Arabia’s dependence on oil, diversify its economy, and develop public service sectors such as health, education, infrastructure, recreation, and tourism. The vision is built upon three main themes: a vibrant society, a thriving economy, and an ambitious nation, aiming to unlock the country’s cultural and economic potential. It represents a transformative plan for the nation’s future, with major projects like the futuristic city NEOM serving as a cornerstone of its economic diversification efforts.
National Committee for the Iron Industry
I am unable to provide a summary for the “National Committee for the Iron Industry” as it does not appear to be a widely recognized public place, cultural site, or historical monument. The name suggests it was likely an administrative or governmental body, possibly from a specific country’s history, but I do not have sufficient information to confirm its history or significance.
Saudi steel academy
The Saudi Steel Academy is a vocational training institute established to develop skilled professionals for the metal and steel industry in Saudi Arabia. It was founded to support the nation’s industrial growth and economic diversification efforts under the Saudi Vision 2030 initiative. The academy provides specialized technical education and hands-on training to equip Saudi nationals with the expertise required in this critical industrial sector.
