Saudi Arabia highlights $2.5tn mineral wealth and industrial roadmap at INNOPROM 2025 in Russia
Speaking at a strategic session titled 'Technological Leadership: Industrial Breakthrough,' Minister of Industry and Mineral Resources Bandar Alkhorayef laid out the Kingdom's vision to become a global force in future technologies and Industry 4.0 innovation.
The announcement comes as Saudi Arabia was honoured as a strategic partner at this year's INNOPROM exhibition—highlighting its increasing international engagement in industrial cooperation and technological advancement.
Saudi Arabia industrial strategy
A National Industrial Strategy built on three pillars:
Localising critical industries including food, pharmaceuticals, water, and defence
Leveraging natural resources such as oil, gas, and minerals for advanced petrochemicals and mining
Pioneering future sectors including AI, 3D printing, and smart manufacturing (Industry 4.0)
Strong focus on R&D, local content development, and technology adoption incentives
Alkhorayef announced that the Kingdom's mineral wealth is now estimated at $2.5tn, up from $1.3tn, thanks to extensive geological surveys.
Key resources include phosphate, copper, iron ore, zinc, and other strategic minerals vital for the energy transition and industrial supply chains.
The Future Minerals Forum (FMF)—hosted annually in Riyadh since 2022—has emerged as a global platform for dialogue on mineral resilience and responsible sourcing, uniting governments, investors, academia, and industry experts across the value chain.
The minister highlighted the alignment between Saudi Vision 2030 and Russia's economic diversification goals, pointing to shared priorities in digital transformation, innovation, and non-oil growth.
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.
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