Alkhorayef: Any substitution of technology for people will be at the expense of the expatriate workers, not the Saudi labor

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The Minister of Industry and Mineral Resources, Bandar Al-Khorayef, affirmed that any replacement of advanced technology (and artificial intelligence) in the place of man will be at the expense of expatriate workers in the Kingdom and not at the expense of Saudi labor.  Al-Khorayef said during a dialogue seminar with the President of the Capital Market Authority on the industrial sector and listing in the financial market, that the Kingdom is keen not only to be an importer of technology, but also to be an exporter of it, indicating that the challenge in the world currently is the workforce.

He indicated that the Kingdom will not feel the challenge of replacing people with technology, as it will be at the expense of expatriate workers and not local workers, indicating that the role of citizens and citizenship will be the creativity and development of these industries.  He pointed out that the ministry, since its inception about a year ago, has made many efforts, in cooperation with the concerned authorities, to support and develop the industrial sector in the Kingdom, pointing out that the main challenge in this sector is the need for permanent financing, and the financial market in one of its aspects provides and facilitates this matter.