Saudi Arabia is shifting its automotive strategy toward electric vehicles, according to His Excellency Bandar Alkhorayef, Minister of Industry and Mineral Resources. Speaking at the Qatar Economic Forum, His Excellency highlighted that although the Kingdom has been a leading exporter of cars without domestic manufacturing, it is now focused on building a future-ready automotive sector.
His Excellency Bandar Alkhorayef explained that Vision 2030 plays a crucial role in attracting automotive investments and driving industrial localization. This strategy is designed not only to strengthen national security and economic stability, but also to create new value for the Kingdom.
He pointed out that technological advancements are changing the importance of industrial scale. Saudi Arabia’s mining and manufacturing sectors are adopting advanced technologies, aiming to serve both regional and global markets.
According to His Excellency, Saudi Arabia’s efforts in mining and industry are already delivering visible results, thanks to detailed planning and effective execution. He stressed that private sector participation and committed investors are essential for continued progress.
Significant regulatory reforms have made Saudi Arabia’s mining investment framework among the strongest globally, according to His Excellency. The process for obtaining a mining license has been reduced to less than six months—much faster than the global average of three to five years.
