Minister of Industry Concludes Official Visit to Russian Federation

Yekaterinburg: Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef has concluded a four-day official visit to the Russian Federation. During the visit, he led the Kingdom of Saudi Arabia's delegation participating in the international industrial exhibition INNOPROM 2025. The visit aimed to strengthen economic and industrial partnerships between the two countries while attracting high-quality investments to Saudi Arabia. According to Saudi Press Agency, during INNOPROM, the minister inaugurated the Saudi Pavilion in Yekaterinburg, accompanied by 18 government entities and 20 leading national companies. These entities presented their initiatives, programs, and investment opportunities under the umbrellas of 'Made in Saudi,' 'Invest Saudi,' and 'Visit Saudi.' Alkhorayef also received the Russian prime minister at the Saudi pavilion. The minister delivered an opening speech at the Russian-Saudi Dialogue Forum as part of INNOPROM's activities and participated in a dialogue session titled "Te chnological Leadership: Industrial Breakthrough." In this session, Alkhorayef outlined the Kingdom's efforts to enable industrial transformation, stimulate innovation, and accelerate the adoption of fourth industrial revolution technologies. He also chaired the Saudi-Russian roundtable meeting held on the sidelines of the exhibition. Alkhorayef's visit to Russia included a series of meetings with Russian government officials, including the minister of industry and trade, the minister of natural resources and environment, and the deputy of the Committee on Health Protection. These meetings aimed to expand opportunities for industrial and investment partnership between the two countries. The minister held discussions with leaders of Russian industrial and mining companies, including the Russian Aluminum Association, VSMPO-AVISMA, Salavat Steklo, AlRosa, Norgold, United Confectioners Limited Company, Sistema, and Electro. The discussions centered on strengthening industrial and mining cooperation and developin g joint investments. In Moscow, the minister chaired a roundtable meeting with private-sector representatives to highlight Saudi Arabia's unique position as a prime destination for global investment, its strategic assets, and the competitive advantages of its investment environment. A significant outcome of the visit was the signing of a memorandum of understanding between the Saudi Authority for Industrial Cities and Technology Zones (MODON) and the Moscow City Government Department of Innovation and the Entrepreneurship Development Department. This agreement aims to enhance cooperation in the field of smart industrial cities and enable research, innovation, and entrepreneurial projects in the industrial sector. The official visit of the minister of industry and mineral resources to the Russian Federation is part of the framework for developing strategic economic partnerships between the two countries, particularly in the industrial and mining sectors. This aligns with the objectives of the Saudi Vision 2 030, which calls for strengthening international partnerships and attracting quality investments, contributing to transforming the Kingdom into a leading industrial power and consolidating its position as a global hub for mining and minerals.