Industry Minister Bandar Alkhorayef Explores Global Investment Opportunities In High-Value Industries

During the ninth Future Investment Initiative (FII9) Conference in Riyadh, Minister of Industry and Mineral Resources Bandar Alkhorayef engaged with leaders from several global firms. These discussions centred on investment opportunities in advanced manufacturing and marine industries. The Kingdom's support for investors was a key topic, aiming to enhance cooperation in these sectors.

The meetings highlighted the National Industrial Strategy's goals, focusing on investment prospects in advanced manufacturing and shipbuilding. Discussions also covered technology transfer to Saudi Arabia. The minister met with leaders from Taiwan’s GIGABYTE Group, Giga Computing Technology, Italy’s Fincantieri and D-Orbit, and the U.S.-based Intel Corporation.

Minister Alkhorayef's discussions included reviewing the Kingdom's industrial ecosystem. This ecosystem offers incentives to promote specialized investments aligned with Saudi Vision 2030. The aim is to empower investors by providing necessary enablers for successful ventures in the industrial sector.

A significant outcome of these meetings was a cooperation agreement between the National Industrial Development Center and Fincantieri. This agreement aims to bolster partnerships within the marine industries sector, enhancing collaboration between Saudi Arabia and global industry leaders.

The FII9 Conference serves as a global platform where decision-makers, business leaders, and experts convene. They discuss strategies to stimulate the global economy amidst rapid technological and economic changes. This setting provided an ideal backdrop for Minister Alkhorayef's meetings with international companies.

The companies involved are recognized for their expertise in various fields. GIGABYTE Group leads in computing and AI systems, while Giga Computing Technology specializes in data centers. Fincantieri is renowned for ship design and construction, D-Orbit operates in the satellite industry, and Intel Corporation is a major player in technology.

This gathering underscored Saudi Arabia's commitment to fostering international partnerships and advancing its industrial capabilities through strategic collaborations with leading global firms.

With inputs from SPA