Minister of Industry and Mineral Resources, Bandar Alkhorayef, affirmed that Saudi Expands Partnerships with Russia highlighting the Kingdom’s commitment to strengthening industrial and investment cooperation. He emphasized Saudi Arabia’s intent to leverage joint opportunities across key sectors to advance the mutual interests of both countries.
The remarks were delivered during Minister Alkhorayef’s keynote speech at the International Industrial Exhibition “INNOPROM. Saudi Arabia,” currently taking place in Riyadh and running until February 10. The event features broad participation from public and private sector leaders, as well as major industrial companies from Saudi Arabia, Russia, and other countries.
Saudi Expands Partnerships with Russia
Minister Alkhorayef emphasized that Riyadh’s hosting of INNOPROM reflects the shared interest between Saudi Arabia and Russia in strengthening industrial and investment cooperation, building on historical relations that span over a century. This initiative aims to expand strategic industrial partnerships and stimulate targeted investments between the two nations.
He noted that Riyadh hosting the exhibition shortly after Saudi Arabia’s participation as a partner country in the previous edition in Russia underscores both countries’ dedication to deepening bilateral relations, particularly in priority sectors such as industry, logistics, and supply chains. The minister further highlighted the commitment of both governments to establish a solid cooperative framework that ensures a stable and secure environment for long-term investments.
Addressing the mining and minerals sector, Minister Alkhorayef pointed out that Saudi Arabia values Russia’s advanced expertise in this field and seeks to create opportunities for Russian companies specializing in mining and mine services to contribute to the Kingdom’s sector development. Mining and minerals constitute the third pillar of Saudi Arabia’s national industry under Vision 2030.
The minister also stressed that Saudi Arabia offers an integrated system to support industrial projects, including advanced industrial cities, modern infrastructure, industrial financing, and training and qualification programs. Complemented by policies supporting localization and knowledge transfer, these measures enable high-value industrial investments and enhance their sustainability.
INNOPROM ranks among the leading international industrial exhibitions, hosting annually in Russia for over 15 years. In its Riyadh edition, Saudi and Russian companies actively participate, engaging in a comprehensive business program with dialogue sessions and bilateral meetings that foster strategic partnerships and support both countries’ economic development goals.
For more details, visit the official SPA release here.
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