Latest news with #INNOPROM
Asharq Al-Awsat
an hour ago
- Business
- Asharq Al-Awsat
Alkhorayef Highlights Opportunities for Russian-Saudi Industrial Collaboration
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef emphasized on Monday the enduring strength of economic ties between Saudi Arabia and Russia. Speaking at the Russian-Saudi Dialogue Forum, held as part of INNOPROM 2025 in Yekaterinburg, he stressed 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 highlighted its 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. He also extended an open invitation to Russian counterparts to visit the Kingdom, explore its diverse investment prospects, and experience its rich cultural heritage, noting that Saudi nationals have been showing increasing interest in travel to Russia. Alkhorayef praised the longstanding relationship between Saudi Arabia and Russia that has spanned over 100 years, creating a foundation to advance joint initiatives in industry, mining, technology, and global trade. Saudi Arabia and Russia's economic relations 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 Russia, 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.
Argaam
7 hours 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.
Leaders
2 days ago
- Business
- Leaders
Investment Ministry to Forge Global Partnerships at 2025 INNOPROM Expo in Russia
The Ministry of Investment will take part in the 2025 INNOPROM International Industrial Exhibition, held in Yekaterinburg, Russia, from July 7 to 10. Representing the Kingdom as a partner country, the Ministry joins the official Saudi delegation led by Minister of Industry and Mineral Resources, Bandar Alkhorayef. Under the 'Invest Saudi' banner, the Ministry's delegation is headed by Assistant Minister of Investment, Dr. Abdullah Aldubaikhi, along with senior ministry officials. Their mission: to identify industrial investment opportunities and cultivate strategic global partnerships. The Ministry's participation aligns with Saudi Vision 2030, aiming to strengthen the Kingdom's presence on key international industrial stages. It also highlights its progress in building a competitive and investor-friendly environment. Throughout the exhibition, the Ministry will host bilateral meetings, dialogue sessions, workshops, and a roundtable discussion connecting investors with key figures from Saudi Arabia's and Russia's industrial sectors. Delegates will also embark on field visits to major Russian industrial facilities to encourage knowledge exchange and foster cross-border industrial collaboration. Additionally, INNOPROM is recognized as one of the world's leading industrial expos, drawing participants from over 60 countries and showcasing advancements in manufacturing technologies, industrial services, machine building, metal industries, and automation. Finally, Saudi Arabia's presence at INNOPROM reaffirms its dedication to advancing industrial investment, expanding international cooperation, and driving sustainable industrial development. Related Topics : A Top Concern for Voters Worldwide: Is Migration a Serious Problem? King Salman Congratulates Sri Lankan President on National Day Insulators Installed in Farasan Islands Reserve to Protect Birds Saudi FM Takes Part in GCC Ministerial Meeting in Kuwait Short link : Post Views: 6
