Industry Minister Bandar Alkhorayef Engages With Boeing, Airbus, And BMW On Economic Cooperation

Minister of Industry and Mineral Resources Bandar Alkhorayef engaged in several bilateral discussions with leaders from major global industrial firms and international financial institutions. These meetings took place during the 8th Future Investment Initiative Conference (FII8) in Riyadh. The focus was on strengthening economic cooperation, especially in the industrial and mining sectors.

Vice Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid Al-Mudaifer also attended these discussions. They explored promising opportunities across 12 key industrial sectors targeted for development under the National Industrial Strategy. These sectors include aerospace, automotive, food, vaccines, pharmaceuticals, knowledge transfer, and smart manufacturing solutions.

The meetings highlighted investment prospects in Saudi Arabia’s mining sector, covering all stages from exploration to extraction and processing. Discussions also reviewed the comprehensive mining strategy and the Mining Investment Law, which aims to enhance competitiveness and stability in the mining investment environment.

Advanced financial technologies were another focal point of these talks. The expansion plans of some global companies within the Kingdom were discussed as well. This reflects Saudi Arabia's commitment to fostering a conducive environment for foreign investments.

Alkhorayef met with several prominent figures from global companies. These included the executive vice president of strategy at Airbus, the chairman of BMW, and the CEO of Nestle Middle East and North Africa. Discussions also involved the chairman of Vale, a leading global mining company, among others.

Other notable attendees included representatives from Sanofi Pharmaceuticals, Brookfield's head of private equity, Boeing International's CEO, 3D Systems' CEO, and SoftBank Group's founder and chairman. These engagements underscored Saudi Arabia's strategic interest in attracting diverse investments.

The meetings also addressed incentives and facilities provided by Saudi Arabia to investors. This aligns with the Kingdom's broader economic goals under Vision 2030 to diversify its economy beyond oil dependency.

By engaging with leaders from various sectors, Saudi Arabia aims to position itself as a hub for industrial innovation and investment. The discussions at FII8 reflect this ambition by exploring new avenues for collaboration and growth.

With inputs from SPA