Saudi Arabia launches association to boost precious metals, gemstone industry
New initiative to support local artisans, promote sustainability, and strengthen creative sector under Vision 2030
RIYADH, Saudi Arabia (MNTV) — Saudi Arabia’s Ministry of Industry and Mineral Resources has launched the Non-Profit Precious Metals and Gemstones Association, a strategic initiative aimed at developing the Kingdom’s precious metals and gemstones sector through innovation, capacity building, and support for local talent.
The association’s launch reflects the ministry’s broader efforts to expand the role of nonprofit organizations within Saudi Arabia’s industrial and mining sectors, positioning them as key contributors to both economic growth and social development.
In line with Saudi Vision 2030, the new association aims to boost local production in the precious metals and gemstones sector while empowering young and female designers.
It will also enhance professional standards through specialized training, workshops, and certification programs.
According to the ministry, the association will provide a range of financial and technical support services, including production grants, access to modern tools, and platforms for designers to showcase their work at both local and international exhibitions.
These efforts are aimed at helping Saudi creatives scale their businesses and integrate more effectively into domestic and global value chains.
A key component of the initiative is its focus on sustainability, with the association pledging to promote eco-friendly and responsible practices within the precious metals and gemstones industry.
It will also work to foster a unified professional community through a digital platform that connects investors, entrepreneurs, and industry practitioners across the sector.
Officials emphasized that the association’s work will contribute to economic diversification, job creation, and the growth of the Kingdom’s creative economy.
By nurturing Saudi talent and integrating artisans into the global supply chain, the initiative aims to boost the sector’s contribution to non-oil GDP and enhance the country’s international competitiveness.
The launch of the Non-Profit Precious Metals and Gemstones Association marks another step in the government’s strategy to stimulate non-oil sectors while creating sustainable and inclusive opportunities for local communities.
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