Ministry Launches Non-Profit Precious Metals and Gemstones Association
The Ministry of Industry and Mineral Resources has officially established the Non-Profit Precious Metals and Gemstones Association to advance the industry, foster innovation, and empower local designers and artisans across the Kingdom.
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Objectives of the Initiative
This initiative is part of the Ministry’s broader strategy to enhance the role of non-profit organizations in the industrial and mining sectors, recognizing their impact on economic and social development.
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Key Goals
- Enhancing Local Content: Increase the local content in precious metals and gemstone products.
- Supporting Creative Industries: Foster the growth of creative industries by empowering women and youth.
- Elevating Professional Standards: Improve professional standards among designers through specialized training programs, workshops, and certifications.
Support for Artisans and Designers
The association will offer various forms of support to Saudi artisans and designers, including:
- Financial and Technical Assistance: Providing funding and technical guidance to boost production capabilities.
- Production Grants: Offering grants to facilitate the creation of new products.
- Showcasing Opportunities: Enabling artisans to present their work at local and international exhibitions.
Focus on Sustainability
The association aims to promote sustainability within the gemstone sector by encouraging environmentally responsible practices and building a unified professional community. A digital platform will be developed to connect investors and industry practitioners, facilitating collaboration and growth.
Economic Impact
By integrating designers and craftsmen into key value chains, the association seeks to expand Saudi Arabia’s presence in the global market and contribute positively to the national GDP.
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