Ministry of Industry and Mineral Resources
The Saudi government ministry responsible for industrial policy, manufacturing development, and mineral resource management, driving the Kingdom's industrial diversification.
Definition
The Ministry of Industry and Mineral Resources (MIM) is the Saudi government ministry responsible for industrial policy, manufacturing sector development, mining regulation, and the localization of industrial supply chains under Vision 2030.
Overview
Established as a standalone ministry in 2019, MIM was carved out from the former Ministry of Energy, Industry and Mineral Resources to provide dedicated institutional focus on industrial and mining development. The ministry regulates industrial licensing, manages the Kingdom’s mineral resource cadastre, develops industrial zones, and implements policies to attract manufacturing investment.
The ministry is the primary government counterpart for the National Industrial Development and Logistics Program (NIDLP), one of Vision 2030’s key Vision Realization Programs. Its priorities include increasing manufacturing’s contribution to GDP, developing the mining sector as a “third pillar” of the economy, promoting technology adoption in industry, and localizing supply chains across priority sectors including defence, automotive, food processing, pharmaceuticals, and building materials.
MIM oversees the regulatory framework for the mining sector, including the Mining Investment Law of 2020, which modernized the legislative framework to attract foreign mining investment. The ministry manages a geological survey programme aimed at mapping the Kingdom’s mineral potential, estimated at over SAR 5 trillion in undeveloped resources.
Key Facts
| Fact | Detail |
|---|---|
| Established | 2019 (standalone ministry) |
| Key Programme | NIDLP |
| Mining Law | Mining Investment Law (2020) |
| Mineral Wealth | SAR 5+ trillion (estimated) |
| Industrial Licences | Thousands issued annually |
| Priority Sectors | Defence, automotive, food, pharma, building materials |
| Mining Cadastre | National mineral resource registry |
Role in Vision 2030
MIM is the institutional anchor for Vision 2030’s industrial diversification agenda. The plan targets increasing manufacturing’s share of GDP to 20 percent and establishing mining as the third economic pillar alongside oil and petrochemicals. The ministry’s regulatory reforms, investment promotion, and supply chain localization initiatives are essential to attracting the hundreds of billions of dollars in industrial investment needed to achieve these targets.
The ministry also plays a critical role in creating industrial employment for Saudi nationals and developing the technical skills base required for a modern manufacturing economy.