Riyadh, August (پاکستان پوائنٹ نیوز 28 أغسطس 2025ء) According to a release issued today by the Ministry of Industry and Mineral Resources, the meeting reinforced Saudi Arabia’s position as the United States’ largest economic partner in the middle East, with bilateral trade reaching $25.7 billion in 2024. It also emphasized the role of bilateral frameworks, including the Saudi-American Trade and Investment Framework Agreement (TIFA), in providing a robust platform for expanding cooperation in advanced industries and critical supply chains.
The meeting participants reviewed the promising opportunities presented by the Kingdom's key strategies for the industrial and mining sectors that are considered fundamental pillars of the country's economic transformation. It also highlighted the enablers and incentives provided to facilitate the investors' journey, including the Standard Incentives program that offers up to 35% capital investment costs, with a maximum of SAR50 million per project.
The release added that meeting participants discussed the Kingdom's efforts to enable industrial transformation through several initiatives, including the Future Factories Program, which aims to automate 4,000 industrial facilities. The discussion highlighted the rapid growth in several promising industrial sectors in the Kingdom, such as the pharmaceutical and medical devices sector, which is expected to reach $7.5 billion by 2030. The chemical conversion industries sector was also noted, as it represents 8% of global production, with its output exceeding 100 million tons annually.
The dialogue highlighted the Kingdom’s competitive strengths, including a mineral wealth valued at $2.5 trillion, encompassing copper, nickel, rare earth elements, and gold, complemented by regulatory reforms, 100% foreign ownership, attractive financial incentives, and world-class infrastructure. These advantages collectively position Saudi Arabia as a leading global destination for industrial investment.
At the conclusion of the meeting, the minister of industry invited American officials and US private-sector representatives to attend the fifth Future Minerals Forum (FMF) in January 2026. The conference brings together global mining leaders, major investors, and pioneers in mining technologies to explore the future of the sector and formulate solutions that enhance its growth and sustainability.
