Industry Minister Bandar Alkhorayef Chairs Business Roundtable To Enhance Industrial And Mining Investment With Greece

Minister of Industry and Mineral Resources Bandar Alkhorayef recently co-led a significant business roundtable with Greek Minister of Development Dr. Takis Theodorikakos. This event brought together leaders from Greece's private sector to enhance investment partnerships in the industrial and mining sectors. Organised by Saudi Arabia's Ministry of Industry and Mineral Resources, in collaboration with Greece's Ministry of Development, the meeting highlighted the growing strategic alignment between the two nations.

The roundtable was part of Alkhorayef’s official visit to Greece, focusing on expanding strategic cooperation and attracting quality investments to Saudi Arabia. This aligns with the economic diversification goals outlined in Saudi Vision 2030. The engagement included National Industrial Development Center Chief Executive Eng. Saleh Al-Solami, officials from the Athens Chamber of Commerce, the Federation of Greek Industries, and leaders from 23 major Greek companies.

In his keynote speech, Alkhorayef stressed the strong strategic and economic ties between Saudi Arabia and Greece. This relationship was solidified by Crown Prince Mohammed bin Salman's historic visit to Greece in 2022, which led to the establishment of the Saudi-Greek Strategic Partnership Council. The Greek prime minister's visit to Saudi Arabia in January 2025 further reinforced these ties.

Alkhorayef noted that as both countries approach their centennial celebration of diplomatic relations, there is a crucial opportunity to leverage this longstanding partnership for mutual economic benefit. He emphasized that the private sector plays a vital role in strengthening investment partnerships between Saudi Arabia and Greece.

Alkhorayef outlined strategic frameworks that position Saudi Arabia as an attractive investment destination. He highlighted the National Industrial Strategy targeting 12 sub-sectors, including national security industries like food, pharmaceuticals, and military industries. These sectors benefit from Saudi Arabia’s comparative advantages in raw materials such as chemicals and metals.

The ambitious transformation of the mining sector into a key pillar of the national industry economy under Vision 2030 was also discussed. Advanced geological surveys have increased the estimated value of Saudi mineral resources from $1.3 trillion to $2.5 trillion.

Reformed Investment Landscape

Alkhorayef pointed out that Saudi Arabia's reformed investment landscape includes a modernized Mining Investment Law ranked among the world’s best. This reform has propelled Saudi Arabia from 104th to 23rd place in the Fraser Institute’s global investment attractiveness index.

The annual Future Minerals Forum was also highlighted as a crucial global platform for building partnerships necessary for developing sustainable mineral supply chains.

This roundtable marks a significant step in transforming diplomatic goodwill into tangible economic cooperation between Saudi Arabia and Greece. It underscores both nations' commitment to advancing their strategic partnership through enhanced investment opportunities in key sectors.

With inputs from SPA