Latest news with #Alkhorayef
Saudi Gazette
09-07-2025
- Business
- Saudi Gazette
Alkhorayef emphasizes Saudi Arabia's growing role as global industrial investment hub
Saudi Gazette report YEKATERINBURG — Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef emphasized the Kingdom's growing role as a global destination for industrial investment. He highlighted this while chairing Saudi-Russian roundtable meeting held on the sidelines of the 2025 INNOPROM International Industrial Exhibition in Yekaterinburg, Russia. The roundtable, organized by the Ministry of Investment, brought together senior government officials, business leaders, and investors from both Saudi Arabia and the Russian Federation to explore avenues for deepening economic and industrial cooperation and forming strategic partnerships in key sectors. In his speech, Alkhorayef highlighted the transformative impact of Vision 2030 in reshaping the Kingdom's economy into a diversified, competitive, and sustainable model. He underscored the wealth of opportunities available in Saudi Arabia's strategic sectors, particularly in industry and mining. He pointed to a range of strategic assets that make the Kingdom an attractive investment destination, including its geographic position linking major global markets, robust industrial infrastructure comprising industrial cities and economic zones, as well as the availability of natural resources, competitive energy prices, and a skilled workforce. He noted the ease of doing business and the wide range of investor support services available, such as financing solutions, ready-built factories, and export incentives. The minister stressed Saudi Arabia's commitment to building human capital as a cornerstone of sustainable industrial growth. He noted that the Kingdom's localization efforts include comprehensive training and upskilling programs aimed at equipping the national workforce with advanced manufacturing competencies tailored to the evolving needs of modern industries. Also present at the meeting were Assistant Minister of Investment Dr. Abdullah Aldubaikhi and Saudi Ambassador to Russia Abdulrahman Al-Ahmad. The roundtable formed part of Minister Alkhorayef's official visit to Russia, where he is leading the Saudi delegation at INNOPROM 2025. Saudi Arabia's participation underscores its efforts to enhance international industrial cooperation, promote knowledge transfer, and attract advanced technologies to support the localization of high-potential industries. Saudi Arabia's global industrial ambitions unveiled at INNOPROM Minister Alkhorayef unveiled on Wednesday Saudi Arabia's sweeping industrial ambitions during his participation at INNOPROM 2025 in Yekaterinburg, positioning the Kingdom as a rising global force in future technologies and advanced manufacturing. Speaking at a strategic dialogue session titled "Technological Leadership: Industrial Breakthrough," Alkhorayef outlined the Kingdom's plan to lead the next wave of industrial innovation by strengthening its position in global value chains and accelerating the adoption of Fourth Industrial Revolution technologies. Alkhorayef thanked the Russian Federation and the INNOPROM organizers for hosting the Kingdom as a strategic partner at this year's exhibition. He noted that Saudi Arabia's participation reflects its broader commitment to international cooperation and its intent to attract partners to the Kingdom's rapidly evolving industrial landscape. The minister said that the National Industrial Strategy, launched in 2022, is central to the transformation aimed at reshaping the Kingdom's industrial foundation. The plan is based on three main pillars. The first focuses on industries critical to national resilience, such as food, pharmaceuticals, water, and defense, which are being localized through targeted investments and international partnerships. The second pillar leverages Saudi Arabia's natural and logistical advantages, including its oil, gas, and mineral wealth, as well as its strategic location as a crossroads between continents, covering advanced petrochemicals, mining, and high-value downstream industries. The third pillar targets future-oriented sectors, such as artificial intelligence, 3D printing, and Industry 4.0 applications, where the Kingdom aims to take early leadership through strong R&D support, technology adoption incentives, and a robust local content policy that prioritizes national capabilities. Alkhorayef noted that the mining sector has become a significant pillar of Vision 2030. Through extensive geological surveying, the estimated value of Saudi Arabia's mineral resources has increased from $1.3 trillion to $2.5 trillion, encompassing critical minerals such as phosphate, copper, iron ore, zinc, and other strategic materials. He emphasized that the sector is advancing with a full commitment to environmental stewardship and social responsibility. The minister highlighted the Kingdom's growing role as a global convenor for critical minerals dialogue through the Future Minerals Forum (FMF), hosted annually in Riyadh. Since its inaugural edition in 2022, FMF has become a leading global platform for shaping the future of minerals, driving collaboration on mineral resilience and responsible supply by bringing together governments, industry experts, investors, academia, and stakeholders across the entire mineral value chain. The minister highlighted the similarities between Saudi Vision 2030 and Russia's strategic development goals, particularly in economic diversification, digital transformation, and industrial innovation. He referenced the establishment of the Saudi-Russian Joint Committee in 2002 and the opening of the Saudi Commercial Attaché office in Moscow in 2022 as pivotal steps in deepening bilateral cooperation. He noted that the volume of trade exchange between the two countries has witnessed remarkable growth in recent years, rising from $491 million in 2016 to more than $3.28 billion in 2024.
Saudi Gazette
08-07-2025
- Business
- Saudi Gazette
Alkhorayef highlights promising opportunities for Saudi
Saudi Gazette report YEKATERINBURG, RUSSIA — Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef highlighted the promising opportunities for industrial collaboration between the Kingdom of Saudi Arabia and the Russian Federation. The minister made the remarks while opening the Russian-Saudi Dialogue Forum, held on the sidelines of INNOPROM 2025 in the Russian city of Yekaterinburg. INNOPROMi is an international industrial exhibition that brings together manufacturers and buyers from around the world. Alkhorayef emphasized the enduring strength of economic ties between Saudi Arabia and Russia. He highlighted the importance of Saudi Arabia's mining sector as a vital enabler for economic diversification as part of the Kingdom's objectives under Saudi Vision 2030. Underscoring the Kingdom's vast mineral resources, he reiterated Saudi Arabia's strategic geographic location as a global trade hub that connects three continents, offering promising opportunities for international investors. Alkhorayef praised the outcomes of the Saudi-Russian Joint Committee, emphasizing its role in identifying investment opportunities across key sectors and enhancing knowledge exchange between the two countries. The minister called on forum participants to continue strengthening cooperation and creating tangible projects that support the sustainable growth of both Saudi Arabia and Russia. Alkhorayef also extended an open invitation to Russian officials and business leaders to visit the Kingdom, explore its diverse investment prospects, and experience its rich cultural heritage. He noted that Saudi nationals have been showing increasing interest for travel to Russia. In his speech, Alkhorayef also celebrated the longstanding relationship between Saudi Arabia and the Russian Federation that has spanned over 100 years, creating a foundation to advance joint initiatives in industry, mining, technology, and global trade. The economic relations between Saudi Arabia and Russia have already witnessed monumental growth in recent years, particularly in the fields of industry, mining, petrochemicals, and advanced manufacturing. Bilateral non-oil trade increased from $491 million in 2016 to $3.28 billion in 2024, reflecting a growing partnership between the two countries. Alkhorayef is currently leading a high-level Saudi delegation to the Russian Federation, accompanied by senior officials from 18 government entities and more than 20 leading national companies representing priority sectors including industrial services, technology, manufacturing, machinery, mining, industrial automation, energy, tourism, and culture. During his current visit to Russia, Alkhorayef met with Russian Minister of Industry and Trade Anton Alikhanov on Monday.
Saudi Gazette
07-07-2025
- Business
- Saudi Gazette
Alkhorayef emphasizes Saudi keenness on leveraging Russia's industrial expertise
Saudi Gazette report MOSCOW — Minister of Industry and Mineral Resources Bandar Alkhorayef met with Russian Minister of Industry and Trade Anton Alikhanov in Moscow. During the meeting, they discussed opportunities to advance cooperation in industrial development, manufacturing localization, and mining-sector partnerships. Alkhorayef emphasized the Kingdom's interest in leveraging Russia's industrial expertise, particularly in heavy equipment, agricultural machinery, chemicals, automotive, manufacturing, and advanced materials — sectors that complement Saudi Arabia's National Industrial Strategy. They also explored building effective investment partnerships to take advantage of available opportunities in knowledge and technology transfer, innovation, and industrial research. They reviewed the most prominent quality investment opportunities in Saudi Arabia's promising industrial sectors and the enablers provided to facilitate investors' journeys. During the meeting, Alkhorayef was accompanied by Saudi Ambassador to the Russian Federation Abdulrahman Al-Ahmad, National Industrial Development Center (NIDC) Chief Executive Saleh Al-Solami, Saudi Authority for Industrial Cities and Technology Zones (MODON) Chief Executive Majed Al-Argoubi, and Saudi Export Development Authority Chief Executive Eng. Abdulrahman Althukair. Both sides emphasized their commitment to developing non-oil exports and facilitating their access between the two countries, aiming to contribute to the growth of trade and achieve economic diversification in both Saudi Arabia and Russia. Alkhorayef invited Alikhanov to Saudi Arabia to participate in the Future Minerals Forum (FMF), scheduled to take place in Riyadh on January 13–15, 2026. The meeting is part of the Kingdom's ongoing efforts to strengthen international industrial partnerships and expand bilateral cooperation in line with the objectives of Saudi Vision 2030. Saudi Pavilion at INNOPROM 2025 inaugurated Bandar Alkhorayef inaugurated the Saudi pavilion at INNOPROM 2025 in Yekaterinburg, Russia, where Saudi Arabia is participating as a partner country from July 7 to 10. INNOPROMi s an international industrial exhibition that brings together manufacturers and buyers from around the world. The Saudi pavilion offers a comprehensive program of activities highlighting the Kingdom's industrial capabilities, special economic zones, and investment ecosystem. Key presentations will cover advanced infrastructure, financial enablers provided by the Saudi Industrial Development Fund and Saudi EXIM Bank, and initiatives driven by the National Industrial Strategy. The Kingdom's most reputable companies are showcasing innovative products and technologies to visitors, while bilateral meetings between Saudi and Russian industry leaders will explore mutual avenues for collaboration and investment to promote growth within the industrial sector. Alkhorayef is leading a high-level Saudi delegation, accompanied by senior officials from 18 government entities and more than 20 leading national companies. These organizations represent priority sectors including industrial services, technology, manufacturing, machinery, mining, industrial automation, energy, tourism, and culture. Government entities at the Saudi pavilion include the ministries of industry and mineral resources, investment, and energy, and entities under the umbrellas of 'Saudi Made,' 'Invest Saudi,' and 'Visit Saudi.' Also participating are the Zakat, Tax and Customs Authority, Economic Cities and Special Zones Authority, the Saudi Investment Promotion Authority, and the Premium Residency Center, along with several Public Investment Fund companies such as NEOM, New Murabba Development Company, and ROSHN Group. The INNOPROM platform provides an opportunity for Saudi Arabia to reaffirm its commitment to global industrial cooperation and international investment. The Kingdom aims to enhance its role as a trusted economic partner, attract foreign investment, and establish long-term partnerships to support knowledge transfer, localize advanced technologies, and strengthen industrial and mining supply chains, while aligning with its broader objective of increasing non-oil exports. Saudi Arabia and Russia's economic relations have witnessed significant growth in recent years, particularly in the fields of industry, mining, petrochemicals, and advanced manufacturing. Bilateral non-oil trade increased from $491 million in 2016 to $3.28 billion in 2024, reflecting the deepening partnership between the two countries.
Saudi Gazette
21-05-2025
- Automotive
- Saudi Gazette
Alkhorayef: Saudi Arabia rapidly localizing auto industry, becoming re-export hub
Saudi Gazette report DOHA— Minister of Industry and Mineral Resources Bandar Alkhorayef highlighted Saudi Arabia's swift progress in localizing the automotive industry during his participation in a dialogue session at the Qatar Economic Forum in Doha on Wednesday. He emphasized that Saudi Arabia would become a re-export hub with its rapid transformation taking place in the automobile industry. The minister highlighted the Kingdom's emergence as a key player in car re-exports, driven by advancements in infrastructure and logistics services. He also discussed the Kingdom's focus on the future of the electric vehicle industry to achieve the goals of transitioning to clean energy, as per the goals of Vision 2030. Alkhorayef noted that industrial transformation, the adoption of advanced manufacturing technologies, and the deployment of applications from the Fourth Industrial Revolution, including AI and robotics, requires a robust digital infrastructure. He pointed out that the Kingdom has made substantial progress in this area through targeted investments in digital infrastructure and the implementation of regulations and laws to ensure privacy and cybersecurity. He stated that 2024 saw a significant leap in the performance of non-oil exports, with their contribution to GDP rising from 16 percent to 25 percent. This achievement stems from effective government policies, a favorable investment environment, and active engagement from the private sector. Speaking at a dialogue session during the Qatar Economic Forum, Minister of Economy and Planning Faisal Alibrahim underscored the continued efforts to implement reforms aimed at improving the business environment and enhancing investment opportunities in the Kingdom, in line with the objectives of Vision 2030. Alibrahim explained how the Kingdom is restructuring its economy for the long term, transitioning from a consumption-based model to a more complex and productive one, while continuing to attract global capital and talent. The minister emphasized that Vision 2030 is not merely a plan but a transformative journey, underpinned by institutional efficiency and effective decision-making.
Leaders
11-05-2025
- Business
- Leaders
Industry Minister Wraps Up Official Visit to Denmark, Strengthens Bilateral Industrial Ties
Bandar Alkhorayef, Minister of Industry and Mineral Resources, has concluded an official visit to Denmark, marking a pivotal step forward in deepening economic collaboration between the two nations. The visit centered on expanding cooperation in the industrial and mining sectors, aligned with Saudi Vision 2030's objectives to diversify the Kingdom's economy and advance its industrial capabilities. Visit to Denmark Over the course of the two-day visit, Minister Alkhorayef engaged in high-level discussions with Danish government officials and industry leaders, focusing on strategic partnerships in non-oil sectors such as pharmaceuticals, green technology, sustainable energy, food production, and advanced machinery. A key highlight of the visit was a bilateral meeting with Denmark's Minister for Economic Affairs, Stephanie Lose. The ministers explored ways to enhance policy coordination, support industrial growth, and strengthen investment flows between the two countries. To foster greater private-sector collaboration, Minister Alkhorayef also met with representatives from the Danish Chamber of Commerce, as well as executives from Vestas and European Energy. Discussions revolved around boosting trade, encouraging knowledge transfer, and identifying joint investment opportunities. Alkhorayef chaired a roundtable with senior leaders from prominent Danish companies to further explore prospects for industrial cooperation. Separate meetings were also held with executives from Novonesis, Arla Foods, Danfoss, FLSmidth, and Novo Holdings, focusing on forging stronger commercial ties in areas targeted by Saudi Arabia's National Industrial Strategy. Novo Nordisk The minister's itinerary included a tour of Novo Nordisk's campus to gain insights into its advanced insulin and biopharmaceutical manufacturing technologies. He also visited DTU Science Park, where he reviewed innovative research initiatives and cutting-edge industrial solutions. The visit concluded with a meeting between Minister Alkhorayef and Gerd Müller, Director General of the United Nations Industrial Development Organization (UNIDO). They discussed bolstering the strategic partnership between Saudi Arabia and UNIDO, and ongoing preparations for the 21st UNIDO General Conference, set to take place in Riyadh this November. This official visit underscores Saudi Arabia's commitment to achieving the goals of Vision 2030 by building international partnerships. Finally, this attracts quality investments to localize critical industries that support the Kingdom's health, food, and industrial security. Related Topics : Saudi Arabia, Denmark Explore Investment Opportunities in Industry, Mining Kurt Westergaard, the Prophet Muhammad cartoonist from Denmark dies at 86. Saudi Foreign Minister: Two-State Solution is Basis for Peace, Security WHO Honors Saudi Arabia for Trans Fat-Free Food Products Short link : Post Views: 17
