Saudi Arabia's Minister Unveils Ambitious Industrial Plans At INNOPROM 2025 In Russia

During the INNOPROM 2025 event in Yekaterinburg, Russia, Minister of Industry and Mineral Resources Bandar Alkhorayef revealed Saudi Arabia's ambitious industrial plans. He highlighted the Kingdom's goal to become a global leader in advanced manufacturing and future technologies. Alkhorayef spoke at a session titled "Technological Leadership: Industrial Breakthrough," where he detailed strategies to enhance Saudi Arabia's position in global value chains and embrace Fourth Industrial Revolution technologies.

Alkhorayef expressed gratitude to the Russian Federation and INNOPROM organisers for hosting Saudi Arabia as a strategic partner. He stated that this participation underscores the Kingdom's dedication to international collaboration and its aim to attract partners to its rapidly evolving industrial sector. The National Industrial Strategy, introduced in 2022, is pivotal in transforming Saudi Arabia's industrial base.

The strategy is built on three main pillars. The first pillar emphasises industries crucial for national resilience, such as food, pharmaceuticals, water, and defence. These sectors are being localised through targeted investments and international collaborations. The second pillar capitalises on Saudi Arabia's natural resources and strategic location, focusing on advanced petrochemicals, mining, and high-value downstream industries.

The third pillar targets future-oriented sectors like artificial intelligence, 3D printing, and Industry 4.0 applications. The Kingdom aims to lead these areas through robust R&D support, technology adoption incentives, and a strong local content policy prioritising national capabilities. Alkhorayef noted that mining has become a significant component of Vision 2030.

Through extensive geological surveys, the estimated value of Saudi Arabia's mineral resources has increased from $1.3 trillion to $2.5 trillion. This includes critical minerals like phosphate, copper, iron ore, zinc, and other strategic materials. Alkhorayef stressed that the sector is advancing with environmental stewardship and social responsibility commitments.

The Future Minerals Forum (FMF), hosted annually in Riyadh since 2022, highlights Saudi Arabia's role as a global convenor for critical minerals dialogue. FMF has become a leading platform for shaping the future of minerals by fostering collaboration on mineral resilience and responsible supply among governments, industry experts, investors, academia, and stakeholders across the mineral value chain.

Strengthening International Ties

Alkhorayef pointed out similarities between Saudi Vision 2030 and Russia's strategic development goals in economic diversification, digital transformation, and industrial innovation. He mentioned the establishment of the Saudi-Russian Joint Committee in 2002 and the opening of the Saudi Commercial Attaché office in Moscow in 2022 as key steps towards enhancing bilateral cooperation.

The trade exchange volume between Saudi Arabia and Russia has grown significantly over recent years. It increased from $491 million in 2016 to over $3.28 billion by 2024. This growth reflects deepening economic ties between the two nations.

Saudi Arabia is positioning itself as a leader in advanced manufacturing by leveraging its natural resources and strategic location while embracing future technologies through comprehensive strategies outlined by Minister Bandar Alkhorayef at INNOPROM 2025.

With inputs from SPA