Minister of Industry and Mineral Resources Bandar Alkhorayef inaugurated here today the second Multilateral Industrial Policy Forum (MIPF). The event is organized by the Ministry of Industry and Mineral Resources in partnership with the United Nations Industrial Development Organization (UNIDO). The opening ceremony was attended by Minister of Energy Prince Abdulaziz bin Salman, Prime Minister of Guinea Amadou Oury Bah, several other officials, ministers, and decision makers from around the world. In his opening speech, Alkhorayef said that the forum is important because it fosters dialogue and international cooperation in setting industrial policies, especially now, amid global challenges and opportunities. He highlighted the need for collective efforts to build an 'influential industrial future based on innovation, sustainability, resilience, and international collaboration', and the role inclusive, practical discussions play in driving transformative changes and shaping global industrial policies. Alkh orayef said that the global economic and industrial landscape is undergoing a critical transformation, with modern technologies offering 'unprecedented opportunities for industrial growth', but also facing major challenges, including growing geopolitical tensions and geographical and economic divides. He said that the forum is an 'excellent opportunity to explore new forms of partnerships, align policies, and enhance synergies to complement each other's capabilities, create more resilient supply chains, increase access to market opportunities, distribute benefits fairly, and adopt the best practices to address challenges while building a stronger industrial environment'. Alkhorayef pointed out that Saudi Vision 2030 aims to achieve economic transformation through diversifying sources of income and developing non-oil sectors. This forum, he said, 'represents a vital step toward achieving this vision by enhancing the role of industry as a key driver of development, and leveraging the Kingdom's vast mineral r esources, which play a crucial role in driving economic diversification'. He also stressed that while the Kingdom strives to build a robust industrial base, it also seeks to create opportunities for international cooperation, foster growth and prosperity in other nations, and address global challenges such as digitalization, supply chain issues, and energy transition. Source: Saudi Press Agency