Saudi Pavilion Inaugurated At INNOPROM 2025 To Showcase Industrial Capabilities And Foster Investment

Saudi Arabia is showcasing its industrial prowess at INNOPROM 2025 in Yekaterinburg, Russia. The event runs from July 7 to 10, with Saudi Arabia participating as a partner country. Minister of Industry and Mineral Resources Bandar Alkhorayef inaugurated the Saudi pavilion, leading a high-level delegation of senior officials from 18 government entities and over 20 national companies.

The Saudi pavilion features a diverse program highlighting the Kingdom's industrial capabilities and investment ecosystem. Presentations focus on advanced infrastructure, financial support from the Saudi Industrial Development Fund and Saudi EXIM Bank, and initiatives under the National Industrial Strategy. The pavilion also showcases innovative products and technologies from top Saudi companies.

Saudi Arabia aims to strengthen its role as a reliable economic partner through this platform. The Kingdom seeks to attract foreign investment, establish long-term partnerships, and support knowledge transfer. These efforts align with its broader goal of increasing non-oil exports by localizing advanced technologies and enhancing industrial supply chains.

The event provides an opportunity for bilateral meetings between Saudi and Russian industry leaders. These discussions aim to explore mutual avenues for collaboration and investment, promoting growth within the industrial sector. The focus is on fostering cooperation in areas like industry, mining, petrochemicals, and advanced manufacturing.

Participating government entities include the ministries of industry and mineral resources, investment, and energy. Other participants are under the umbrellas of "Saudi Made," "Invest Saudi," and "Visit Saudi." Additionally, organizations like the Zakat, Tax and Customs Authority, Economic Cities and Special Zones Authority, and several Public Investment Fund companies such as NEOM are present.

Saudi Arabia's economic ties with Russia have grown significantly in recent years. Bilateral non-oil trade increased from $491 million in 2016 to $3.28 billion in 2024. This growth reflects the deepening partnership between both nations in various sectors.

Commitment to Global Cooperation

The INNOPROM platform allows Saudi Arabia to reaffirm its commitment to global industrial cooperation. By participating actively, the Kingdom aims to enhance its international investment profile while establishing itself as a trusted economic partner globally.

The pavilion also highlights special economic zones that offer unique investment opportunities. These zones are designed to attract international investors by providing favorable conditions for business operations.

This participation underscores Saudi Arabia's dedication to expanding its industrial sector beyond oil dependency. By focusing on innovation and collaboration with international partners like Russia, it aims to achieve sustainable economic growth.

With inputs from SPA