Saudi Minister Of Industry Bandar Alkhorayef Inaugurates Industry Day To Enhance Aerospace Cooperation

Minister of Industry and Mineral Resources Bandar Alkhorayef recently inaugurated the Industry Day event at Airbus Helicopters' facility in Marignane, France. The event gathered Airbus Helicopters’ suppliers and Saudi aviation companies to discuss potential collaborations in aerospace and enhance bilateral investment partnerships.

Alkhorayef emphasised the importance of the aerospace sector in Saudi Arabia's industrial landscape. He noted that it is one of the Kingdom’s most advanced industries, with a focus on localisation and development. This aligns with the National Industrial Strategy, which aims to diversify the national economy as part of Saudi Vision 2030.

The minister outlined Saudi Arabia’s ambition to accelerate aerospace localisation and expand its manufacturing capabilities. Achieving this requires several key elements: localising advanced technologies, empowering the private sector, strengthening international partnerships, attracting promising investments, and leveraging strategic assets like geographic location, competitive energy prices, abundant mineral resources, and young talent.

Alkhorayef invited Airbus Helicopters and its supplier network to deepen cooperation with Saudi Arabia. The goal is to build a sustainable and competitive aerospace ecosystem that benefits both parties. He highlighted the shared vision of transforming Saudi Arabia into a global hub for aerospace activities.

The Kingdom has identified several sub-sectors within aerospace offering significant investment opportunities worth SAR10 billion. These include airframe maintenance, component repair, and unmanned aerial vehicle (UAV) manufacturing. Such investments are seen as crucial for boosting industrial growth.

According to the National Industrial Strategy, Saudi Arabia aims to double its industrial GDP from $88 billion to $377 billion by 2035. Advanced manufacturing sectors like aerospace are central to this transformation effort.

Official Visit Objectives

Alkhorayef’s inauguration of the Industry Day event was part of his official visit to France. The visit aimed at enhancing industrial and mining cooperation between the two countries while exploring joint investment opportunities in promising sectors such as aerospace and food.

The minister concluded his speech by encouraging further collaboration between Airbus Helicopters and Saudi partners. He stressed that such partnerships are vital for achieving mutual goals in building a robust aerospace industry.

With inputs from SPA