Latest news with #SaudiIndustrialDevelopmentFund
Leaders
2 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
Saudi Arabia, Russia Seek to Deepen Economic and Industrial Ties
Saudi Arabia and Russia have stepped up efforts to strengthen their economic and industrial partnerships, as Minister of Industry and Mineral Resources Bandar Al-Khorayef led a high-level Saudi delegation to the INNOPROM 2025 International Industrial Exhibition in Yekaterinburg, Russia. Opening the Saudi pavilion - where the Kingdom is participating as the exhibition's partner country - Al-Khorayef underscored more than a century of strategic relations and robust economic ties that, he said, form the basis for expanding trade, investment, and cooperation in key sectors including mining, manufacturing, and technology. The Saudi delegation includes officials from 18 government entities and 20 leading companies spanning industrial services, automation, machinery, metals, energy, and advanced manufacturing. The pavilion is showcasing the Kingdom's competitive advantages as an investment hub, along with opportunities identified in Saudi Arabia's National Industrial Strategy. Promotional events highlighted financial incentives, including funding solutions from the Saudi Industrial Development Fund and the Saudi EXIM Bank, as well as Saudi Arabia's rapidly developing infrastructure, industrial cities, special economic zones, and specialized complexes aimed at supporting investors. During the exhibition, Al-Khorayef and Russian Minister of Industry and Trade Anton Alikhanov met to discuss ways to deepen cooperation. Both ministers stressed the importance of enabling the private sector to seize emerging investment opportunities, and pledged to support joint initiatives that drive industrial development in both countries. The Saudi minister noted Riyadh's strong interest in Russian expertise across priority sectors such as heavy equipment, agricultural machinery, chemicals, automotive, and advanced manufacturing technologies. Talks also focused on forging investment partnerships that facilitate knowledge transfer, industrial innovation, and technology localization. The two sides reaffirmed their commitment to boosting non-oil exports and simplifying market access, aiming to diversify their economies and enhance trade flows. Saudi Arabia's participation in the exhibition, officials said, reflects its strategy to build international partnerships that reinforce its standing as a trusted global economic partner. Recent years have seen steady growth in Saudi-Russian economic ties. Non-oil trade rose from $491 million in 2016 to $3.28 billion in 2024, driven by expanding cooperation in mining, petrochemicals, and advanced industries. The Kingdom hopes to attract high-value Russian investments, strengthen industrial supply chains, and further develop local capabilities as part of its push for economic diversification and sustainable growth.
Argaam
5 days ago
- Business
- Argaam
Industry Minister inaugurates Saudi pavilion at Russia's INNOPROM 2025
Minister of Industry and Mineral Resources Bandar Alkhorayef inaugurated today, July 7, the Saudi pavilion at the 2025 edition of the INNOPROM International Industrial Exhibition, which is being held in Yekaterinburg, Russia, from July 7-10. The Kingdom is participating as a partner country in this year's edition. Alkhorayef is heading the Saudi delegation, which includes 18 governmental officials and representatives from 20 national companies in key sectors such as industrial services, technology, manufacturing, machinery, mining, industrial automation, energy, tourism, and culture. The pavilion is organizing a number of promotional events to highlight the competitive advantages of Saudi Arabia's investment environment and the promising opportunities in various industrial sectors. These events will also showcase the enablers and incentives offered to industrial investors in the Kingdom, including financing solutions from the Saudi Industrial Development Fund and the Saudi Export-Import Bank. This is besides shedding light on the Kingdom's advanced industrial infrastructure, including industrial cities, special economic zones and industrial complexes. Saudi companies are showcasing their latest industrial products and technologies to visitors. The pavilion also hosts several bilateral meetings between industrial leaders from Saudi Arabia and the Russian Federation, aimed at discussing opportunities to strengthen industrial cooperation and expanding joint investments.
Times of Oman
05-07-2025
- Business
- Times of Oman
Oman and Saudi Arabia launch Phase II of industrial integration
Riyadh: The second stage of the industrial integration initiatives between the Sultanate of Oman and the Kingdom of Saudi Arabia kicked off on Saturday within the activities of the Economy, Trade and Industry Committee of the Oman-Saudi Coordination Council. The launch ceremony was organised under the patronage of Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion and Bandar bin Ibrahim bin Abdullah Al Khorayef, Minister of Industry and Mineral Resources in the Kingdom of Saudi Arabia, in the presence of Sayyid Najib bin Hilal bin Saud Al Busaidi , the Sultanate of Oman's Ambassador to Saudi Arabia, its Permanent Representative to the Organisation of Islamic Cooperation and a number of officials from the two sides. The ceremony included a virtual presentation on the key industrial initiatives between the Sultanate of Oman and the Kingdom of Saudi Arabia in priority sectors. The ceremony also discussed a number of future initiatives aimed at boosting industrial cooperation, expansion of the mutual investments and the support of the supply chains and manufacturing between the two countries. During the visit, Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion met with Prince Sultan bin Khalid Al Saud, CEO of the Saudi Industrial Development Fund. The meeting discussed the finance and financial support for the joint industrial projects. The meeting also discussed ways of exchange of expertise in the fields of industrial estates and finance of basic structure supportive to the industrial sector. The second stage of the industrial integration initiatives included incorporating the Sultanate's products in the list of the industrial potentials approved in the KSA and implementation of the rules of the national source of origin as to ensure equal treatment between the Omani and Saudi companies in government tenders and purchases. Qais Al Yousef reaffirmed that the launch of the second stage of the industrial integration initiatives and the signing of the bilateral agreements stress the joint interest of the Sultanate of Oman and the Kingdom of Saudi Arabia for boosting the economic cooperation and industrial integration between the two countries. Qais Al Yousef met with Dr. Fahad bin Ibrahim Al Shathri, CEO of the Saudi General Authority of Competition. The two sides discussed ways of technical and legislative cooperation and exchange of information on issues of competition and coordinating efforts for following with the cross- border harmful monopoly practices. The event also saw the signing of a memorandum of understanding between the Ministry of Commerce, Industry and Investment Promotion and the General Authority of Competition on protection of competition and prevention of harmful monopoly practices. The Minister of Commerce, Industry and Investment Promotion also met with Ibrahim bin Yousef Al Mubarak, Assistant Minister of Investment of the Kingdom of Saudi Arabia. The meeting reviewed mutual investment opportunities in both countriesand the initiatives aimed at enhancement of the investment environment in the industrial and commerce sectors. The minister also met with a number of representatives of the Saudi private sector. The meetings reviewed the investment opportunities in the services, manufacturing and retail sectors besides exploring the opportunities of expansion in the regional markets through strategic partnerships between the private sectors in both the countries.
Trade Arabia
02-04-2025
- Business
- Trade Arabia
Saudi ministry showcases latest innovations at Hannover Messe
The ministry is taking part at the event as part of the big Saudi Industry and Mineral Resources pavilion which has other key entities including the Saudi Industrial Development Fund (SIDF), the Saudi Export Development Authority, the Saudi Authority for Industrial Cities and Technology Zones (Modon), and the National Industrial Development Center. The pavilion showcases key enablers in the industrial sector, along with targeted incentive schemes designed to support its growth and boost investment appeal. It highlights the kingdom's competitive advantages in the sector, including advanced infrastructure and a network of 36 industrial cities across various regions, reflecting efforts to localize knowledge and empower the private sector. Saudi Arabia's participation reflects its ambitious vision for industrial transformation and underscores its ongoing commitment to technological innovation and sustainable development, said senior officials at the event. The ministry officials are meeting potential global investors at the event to highlight the wide range of investment and collaboration opportunities in the industrial and mining sectors. "The initiative seeks to establish strategic and fruitful partnerships to help realize Saudi Arabia's industrial aspirations. It will also facilitate high-impact agreements to attract foreign investments and strengthen the national economy in alignment with the Kingdom's Vision 2030 targets," they stated.
