Saudi Arabia largest car exporter without local manufacturing: Alkhorayef

Bandar Alkhorayef, Minister of Industry and Mineral Resources

Minister of Industry and Mineral Resources, Bandar Alkhorayef, said Saudi Arabia is the world’s top exporter of cars without local production, but it’s now betting on electric vehicles (EVs), signaling a future-oriented strategy.

Speaking at a panel at the Qatar Economic Forum, Alkhorayef said Vision 2030 was a key enabler in attracting the automotive sector to the Kingdom.

He noted that the industrial localization strategy goes beyond national security and economic resilience, but aims to create long-term value.

The minister said industrial scale is becoming less critical due to new technologies. Sectors like mining and manufacturing in Saudi Arabia are being built using advanced technology, with a focus on regional and global competitiveness rather than only domestic demand.

Alkhorayef pointed to significant mining and industry opportunities support Saudi Arabia’s economic diversification under Vision 2030. He said results are now visible on the ground, thanks to well-coordinated planning and execution.

He emphasized that planning alone isn’t enough. Private sector involvement is vital, with investors needed who are ready to commit capital to the sector.

In the mining sector, regulatory reforms have been the key, Alkhorayef said, adding that Saudi Arabia now has one of the world’s robust investment frameworks for mining.

The time required to obtain a license has dropped to under six months, down from the global average of three to five years, he stated.