In a bid to attract French companies to invest in Saudi Arabia's mining sector, the kingdom's Minister of Industry and Mineral Resources held a meeting with leading business figures at the Paris Chamber of Commerce headquarters on Tuesday. A range of promising financing opportunities were discussed when Bandar Alkhorayef met with various officials of French companies and expressed the kingdom's enthusiasm for promoting investment.

Alkhorayef's visit is part of Saudi Arabia's efforts to strengthen the role of the mining and industrial sector in the national economy and increase its contribution by attracting foreign investment. The minister is in Paris for Vision Golfe, a landmark business event showcasing business partnership opportunities between France and the Gulf states that began on June 13.

It is a new platform to promote business cooperation in high-growth potential markets in the private and public sectors such as trade, sports and energy. During the two-day event, key economic players, government ministers and managers of small businesses will have the opportunity to meet and exchange views, as well as representatives of start-ups and senior executives.

The Kingdom's strategic location and strong infrastructure also provide opportunities for companies to strengthen their global supply chains. In March, Saudi Arabia's Ministry of Industry issued 27 new mining licenses for a total of 2,314.

The effort involves extensive exploration for its natural resources at 5,300 sites worth $1.33 trillion. It has more than 20 different mineral types, including gravel, gold, iron, copper, granite and marble. The kingdom is also home to 35 specific geological formations, called mineral belts, which are rich in mineral deposits.

In addition to attracting high-quality investment opportunities in the industrial and mining sectors, Alkhorayef's visit to France falls within the framework of promoting cooperation between the two countries. It also reflects attempts to increase access to French and European markets for Saudi non-oil exports.Editor/XingWentao