The Kingdom’s gold and jewellery sector has aligned its strategies with the Vision 2030 plan: Ali Saleh Baterfi Al-Kindi 

The Vice President of the National Committee for Precious Metals says that the Kingdom of Saudi Arabia is actively engaging with stakeholders across the globe, with particular focus on the gold and jewellery markets in the Middle East  

Ali Saleh Baterfi Al-Kindi, Vice President of the National Committee for Precious Metals and Gemstones, Kingdom of Saudi Arabia, has no doubt that challenges and obstacles exist in every sector worldwide, and the Kingdom is no exception. But Al-Kindi says that in the Kingdom, access to the Government sector provides an opportunity to articulate any issues or impediments faced by the gold and jewellery industry, and seek help to identify solutions.

In a conversation with The Retail Jeweller, Al-Kindi shares his insights about the trends in the jewellery industry of Saudi Arabia, the difficulties to overcome for retailers and the changes needed in the gem and jewellery sector.

“Over the last four decades, our work in the development of the gold jewellery industry has experienced remarkable growth, thanks to the support of our wise government. With their guidance, we have achieved significant advancements in developing this sector, allowing Saudi products to stand strong amidst international competition. As a result, we have become one of the leading countries in the production of gold and jewellery, a feat that fills us with immense pride. Today, we continue our dedication to further enhancing this industry,” Al-Kindi says.

Presently, Saudi jewellers are actively participating in international exhibitions across the globe, with particular focus on the gold and jewellery markets in the Middle East, according to Al-Kindi. “We have advanced in our field with distinctive professionalism as we actively participate in international forums and exhibitions, where we showcase cutting-edge production and design machinery, all crafted with a high level of precision using 3D technology. Many Saudi investors and others bring the latest industrial machine inside our factories to lead the spirit of competition, quality and price among them,”Al-Kindi states, adding, “During these events, we witness the tremendous progress within our industry, characterized by high-end designs that resonate with international fashion trends. There is a potential competition between Middle East nations in offering products of exceptional quality, ideal weight, and innovative and distinctive designs that appeal to the contemporary market.”

Al-Kindi is positive that despite the changes and obstacles they encounter, theNational Committee within the Union of Saudi Chambers for the trade of Precious Metals and Gemstoneswill always communicate with various government entities for dialogue and cooperation in overcoming them. “The response from the government has been overwhelmingly positive, which really helps us in strengthening our national and economic role,” he says.

Talking about the challenges faced by the National Committee for Precious Metals & Gemstones K.S.A as it moves towards Saudi Vision 2030, Al-Kindi explains that they have carefully studied the vision of the Kingdom 2030, aligning their strategies with its well-defined plans. “We move in this path in coordination with both governmental and private entities to reach the world in our industry and trade. We aspire to become one of the top three leading countries worldwide in our field, and export our national products to domestic and international markets,” he declares.

By Bushra Satkhed

Retail Jeweller World Exclusive