Minister Bandar Alkhorayef Engages With Egyptian Officials To Enhance Industrial And Mining Collaboration

Minister of Industry and Mineral Resources Bandar Alkhorayef engaged in discussions with Egyptian ministers in Cairo. The focus was on enhancing industry and mining cooperation and attracting investments to strategic industrial opportunities in Saudi Arabia. These meetings aimed to strengthen bilateral ties and explore potential collaborations between the two nations.

Alkhorayef met with Egyptian Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir. During this meeting, he stressed the importance of reinforcing collaboration to activate agreed industrial integration paths. He highlighted Saudi Vision 2030's role in driving economic transformation and growth across various sectors.

In a separate meeting with Minister of Investment and Foreign Trade Hassan El-Khatib, Alkhorayef discussed ways to enhance cooperation in investments. They explored fostering effective partnerships within the private sector of both countries to leverage available investment opportunities. This dialogue aimed at creating a conducive environment for mutual economic benefits.

Alkhorayef also met with Minister of Petroleum and Mineral Resources Karim Badawi, where he emphasized Saudi Arabia’s commitment to strengthening collaboration in the mining and mineral industries sector. He underscored the Kingdom’s interest in leveraging the economic strengths of both nations for mutual benefit.

An invitation was extended by Alkhorayef to the Egyptian minister to participate in the fourth Future Minerals Forum scheduled for January 2025 in Riyadh. This forum aims to bring together stakeholders from various sectors to discuss future prospects in minerals and mining industries.

The conversation with Central Bank of Egypt (CBE) Governor Hassan Abdallah focused on exploring financing mechanisms. They discussed guarantees provided by financial institutions in both countries to enhance trade and offer solutions to investors, aiming at facilitating smoother financial transactions.

Key Attendees

The meetings were attended by notable figures including Industry and Mineral Resources Deputy Minister for Industry Affairs Khalil Ibn Salamah, Saudi EXIM Bank Chief Executive Saad Alkhalb, Saudi Exports Development Authority Chief Executive Abdulrahman Althukair, and Saudi Ambassador to Egypt Saleh Al-Husseini. Their presence underscored the significance of these discussions.

These meetings reflect a concerted effort by both nations to deepen their economic ties through strategic partnerships. By focusing on industry, mining, and investment opportunities, they aim to create added value and stimulate growth across various sectors.

With inputs from SPA