Saudi-Russia Industrial Cooperation Expands As Alkhorayef Commits To Expanding Partnerships

Saudi Arabia is strengthening industrial and investment ties with Russia, with Riyadh hosting the "INNOPROM. Saudi Arabia" exhibition until 10 February. Minister of Industry and Mineral Resources Bandar Alkhorayef said the Kingdom aims to expand cooperation across key sectors that serve the shared economic interests of both countries.

Alkhorayef delivered his comments during a keynote address at the event, which gathers senior public officials and private sector leaders. Major industrial companies from Saudi Arabia, Russia and other states are also taking part, underlining the scale of interest in joint industrial and investment projects.

The minister explained that hosting "INNOPROM. Saudi Arabia" shortly after the Kingdom joined the exhibition in Russia as a partner country shows the depth of bilateral engagement. That sequence, Alkhorayef noted, reflects a joint desire to expand cooperation in industry, logistics and supply chains.

Alkhorayef stressed that both governments seek to build a strong cooperative base that gives investors predictable conditions. According to the minister, Saudi Arabia and Russia are working to ensure a stable and secure environment for long-term capital, especially in sectors identified as strategic by both sides.

Turning to mining, Alkhorayef said Saudi Arabia views Russia’s advanced expertise in minerals and mining services as a reference point. The minister stated that there are promising prospects for Russian companies to participate in Saudi projects, supporting development of a sector considered the third pillar of national industry under Saudi Vision 2030.

Alkhorayef added that Saudi Arabia has built an integrated support system for industry, which includes specialised industrial cities and modern infrastructure. The Kingdom also provides industrial finance, training and qualification programmes, together with policies that encourage localisation and transfer of technology, helping attract high-value projects and improve their long-term resilience.

The minister linked the exhibition to long-standing ties, noting that cooperation is based on historical relations of more than one hundred years between Saudi Arabia and the Russian Federation. Hosting the event in Riyadh, Alkhorayef said, helps widen the scope of strategic industrial partnerships and encourages targeted mutual investments.

INNOPROM has been organised annually in Russia for over 15 years and is considered a major international industrial exhibition. The Riyadh edition features broad Saudi and Russian representation, alongside a business agenda of dialogue sessions and bilateral meetings designed to support economic development goals in both countries.

Key cooperation priorities highlighted during the exhibition include industry, logistics, supply chains and mining. These fields are expected to anchor future Saudi-Russian industrial partnerships and investment projects.

With inputs from SPA