Latest news with #INNOPROM2025
Leaders
3 days ago
- Business
- Leaders
Saudi Arabia Showcases Investment Potential at INNOPROM 2025
At INNOPROM 2025, held in the Russian Federation, the Saudi Pavilion hosted a series of specialized workshops aimed at strengthening international industrial partnerships and promoting the Kingdom's dynamic investment environment. The events highlighted Saudi Arabia's competitive advantages across key sectors including industry, mining, and energy. The workshops also showcased the enablers and incentives available to investors, reinforcing the Kingdom's strategic position as a global economic hub. Industrial Growth, Incentives The Ministry of Industry and Mineral Resources led several workshops to introduce the industrial investment landscape in Saudi Arabia. One key session, 'Industrial Investments in the Kingdom of Saudi Arabia,' reviewed the evolution of the industrial sector, the goals of the National Industrial Strategy, and the focus areas for localization. The session emphasized the Kingdom's logistical strengths—such as its geographic position, 40+ industrial cities, 10 major ports, and a 5,000-kilometer rail network. Another workshop, 'The Standard Incentive Program for the Industrial Sector,' focused on priority sectors including aerospace, automotive, pharmaceuticals, and downstream chemicals. Additionally, the program offers up to 35% financial incentives, capped at SAR 50 million per project, to eligible investments. Financing, Support Services for Industrial Development Multiple institutions provided insights into Saudi Arabia's robust support systems. The Saudi Industrial Development Fund (SIDF) hosted a session on its financing and advisory services designed to support sustainable, high-quality industrial projects. Meanwhile, the Saudi Export-Import Bank (EXIM) introduced its export financing tools such as supply-chain finance, export credit, and guarantees—supporting the global competitiveness of non-oil Saudi products. The Economic Cities and Special Zones Authority presented the benefits of investing in special economic zones, while the National Industrial Development Center (NIDC) highlighted high-value opportunities in downstream chemicals, aiming to quadruple the sector's contribution to GDP under the National Industrial Strategy. Expanding Opportunities in Mining, Energy A major focus was also placed on mining and energy. The Ministry of Industry and Mineral Resources introduced the workshop 'The Kingdom: The World's Next Hub for Mineral Processing,' highlighting Saudi Arabia's $2.5 trillion in mineral reserves and its goal to boost the sector's GDP contribution to $64 billion by 2030. Moreover, the Ministry of Energy presented investment opportunities across the energy sector, while other entities such as the Premium Residency Center, ROSHN Group, and the Spirit of Saudi Arabia tourism program showcased incentives for skilled professionals, real estate development, and tourism respectively. INNOPROM Saudi Arabia's participation as a partner country at INNOPROM 2025 underscores its commitment to fostering global industrial cooperation and attracting strategic investments. By highlighting its advanced infrastructure, strategic location, and supportive ecosystem, the Kingdom aims to deepen ties with Russian and international investors, boost non-oil exports, and position itself as a leading industrial and investment destination. Related Topics: Investment Ministry to Forge Global Partnerships at 2025 INNOPROM Expo in Russia Saudi-Russian Industrial Dialogue Forum Highlights Promising Investment Opportunities Saudi Artist Malak Al-Johani Revives Grandmother's Memories Through Interactive Art Short link : Post Views: 21
Asharq Al-Awsat
3 days ago
- Business
- Asharq Al-Awsat
From Russia, Alkhorayef Says Saudi Aims to Lead in Future Tech
Saudi Arabia is leading a sweeping industrial transformation aimed at reshaping the national economy and securing a leading position in advanced sectors, the kingdom's Minister of Industry and Mineral Resources Bandar Alkhorayef said. Speaking at the main session of the INNOPROM 2025 international industry fair in Yekaterinburg, Russia, Alkhorayef highlighted Saudi Arabia's early adoption of future technologies and its efforts to boost production capabilities within global value chains. He outlined that the National Industrial Strategy, launched in 2022, serves as the operational framework for the kingdom's industrial vision. The strategy focuses on three integrated pillars targeting key industrial groups. The first pillar covers industries related to national security — including food, pharmaceuticals, water, and military sectors — which Saudi Arabia aims to localize through active partnerships. Alkhorayef said the second pillar focuses on industries that leverage Saudi Arabia's relative advantages, including abundant natural resources such as oil, gas, and minerals, as well as its strategic geographic location that positions the kingdom as a global logistics hub. Key sectors under this pillar include advanced petrochemicals, mining, and value-added manufacturing. The third pillar targets future-oriented and emerging technologies. Saudi Arabia aims to strengthen its position in the early adoption of cutting-edge technologies through clear incentive policies. These include support for research and development, applications of the Fourth Industrial Revolution, artificial intelligence, and 3D printing. Complementary measures such as the local content policy prioritize domestic products and bolster reliance on national capabilities, he added. Alkhorayef also outlined recent developments in the kingdom's mining sector, a key focus of Vision 2030. He said efforts have followed three main tracks, starting with expanded geological exploration that boosted the estimated value of Saudi mineral reserves from $1.3 trillion to $2.5 trillion. These reserves include strategic minerals such as phosphate and copper, with ongoing attention to social and environmental considerations in mining areas. The second track involves strengthening international partnerships through the annual Riyadh International Mining Conference, which has evolved into a global platform addressing challenges related to securing critical raw materials for the energy transition. The conference fosters coordination among governments, private sector players, and academic and research institutions to enhance the mining sector's efficiency and sustainability. Alkhorayef expressed gratitude for the Russian government's contributions to the event. Highlighting strong Saudi-Russian ties, he said there are promising opportunities to deepen cooperation, particularly given the alignment between Saudi Vision 2030 and Russia's 2030 national development goals in economic growth, digital transformation, and technological leadership. Alkhorayef noted that the launch of the Saudi-Russian Joint Committee in 2002 and the opening of the Saudi commercial attaché office in Moscow in 2022 marked key milestones in advancing the partnership. He pointed to significant growth in bilateral trade, which surged from $491 million in 2016 to over $3.28 billion in 2024.
Saudi Gazette
3 days ago
- 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
4 days ago
- 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.
Leaders
5 days ago
- Business
- Leaders
Saudi-Russian Industrial Dialogue Forum Highlights Promising Investment Opportunities
The Saudi Minister of Industry and Mineral Resources, Bandar Al-Khorayef, highlighted the promising opportunities for industrial cooperation and investment between Saudi Arabia and Russia, as part of his participation in the Saudi-Russian Dialogue Forum at INNOPROM 2025, held in Yekaterinburg, Russia. In his opening speech, Al-Khorayef reaffirmed the depth of strategic and economic ties between Saudi Arabia and Russia, which act as a pillar for enhancing bilateral trade, investment and cooperation across various sectors, most notably industry, mining and technology, according to the Saudi Press Agency (SPA). Furthermore, Al-Khorayef praised the positive outcomes achieved by the Saudi-Russian Joint Committee and its crucial role in promoting investment opportunities in key economic sectors, strengthening cooperation, and exchanging expertise and knowledge. The Saudi Industry Minister highlighted the Kingdom's strategic advantages which position it as a global investment hub, including its strategic geographical location connecting three continents, the abundancy of natural resources, competitive energy prices, and developed infrastructure. He also highlighted the incentives to attract international investors, inviting Russian companies and investors to visit Saudi Arabia to explore the promising investment opportunities across various sectors. Moreover, Al-Khorayef pointed to the Kingdom's efforts to localize the mining sector, as a vital enabler for economic diversification under Saudi Vision 2030, particularly that Saudi Arabia possesses vast mineral resources. The economic relations between Saudi Arabia and Russia have seen monumental growth over recent years, especially in industry, mining, petrochemicals, and advanced manufacturing. The non-oil trade volume between the two countries jumped to $3.28 billion in 2024, rising from $491 million in 2016 – a testament to the expanding economic partnership between both countries. Al-Khorayef is spearheading Saudi Arabia's delegation to INNOPROM 2025, comprising senior officials from 18 government entities and over 20 national companies in the fields of industrial services, technology, manufacturing, industrial automation, energy, tourism and investment. Short link : Post Views: 70
