Saudi Gazette report
MOSCOW — Minister of Business and Mineral Assets Bandar Alkhorayef met with Russian Minister of Business and Commerce Anton Alikhanov in Moscow.
In the course of the assembly, they mentioned alternatives to advance cooperation in industrial improvement, manufacturing localization, and mining-sector partnerships. Alkhorayef emphasised the Kingdom’s curiosity in leveraging Russia’s industrial experience, significantly in heavy gear, agricultural equipment, chemical compounds, automotive, manufacturing, and superior supplies — sectors that complement Saudi Arabia’s Nationwide Industrial Technique.
Additionally they explored constructing efficient funding partnerships to make the most of out there alternatives in information and know-how switch, innovation, and industrial analysis. They reviewed probably the most outstanding high quality funding alternatives in Saudi Arabia’s promising industrial sectors and the enablers supplied to facilitate buyers’ journeys.
In the course of the assembly, Alkhorayef was accompanied by Saudi Ambassador to the Russian Federation Abdulrahman Al-Ahmad, Nationwide Industrial Improvement Heart (NIDC) Chief Govt Saleh Al-Solami, Saudi Authority for Industrial Cities and Expertise Zones (MODON) Chief Govt Majed Al-Argoubi, and Saudi Export Improvement Authority Chief Govt Eng. Abdulrahman Althukair.
Either side emphasised their dedication to growing non-oil exports and facilitating their entry between the 2 international locations, aiming to contribute to the expansion of commerce and obtain financial diversification in each Saudi Arabia and Russia.
Alkhorayef invited Alikhanov to Saudi Arabia to take part within the Future Minerals Discussion board (FMF), scheduled to happen in Riyadh on January 13–15, 2026.
The assembly is a part of the Kingdom’s ongoing efforts to strengthen worldwide industrial partnerships and develop bilateral cooperation according to the goals of Saudi Imaginative and prescient 2030.
Saudi Pavilion at INNOPROM 2025 inaugurated
Bandar Alkhorayef inaugurated the Saudi pavilion at INNOPROM 2025 in Yekaterinburg, Russia, the place Saudi Arabia is collaborating as a companion nation from July 7 to 10. INNOPROMi s a world industrial exhibition that brings collectively producers and patrons from world wide.
The Saudi pavilion gives a complete program of actions highlighting the Kingdom’s industrial capabilities, particular financial zones, and funding ecosystem. Key shows will cowl superior infrastructure, monetary enablers supplied by the Saudi Industrial Improvement Fund and Saudi EXIM Financial institution, and initiatives pushed by the Nationwide Industrial Technique.
The Kingdom’s most respected firms are showcasing revolutionary merchandise and applied sciences to guests, whereas bilateral conferences between Saudi and Russian business leaders will discover mutual avenues for collaboration and funding to advertise development inside the industrial sector.
Alkhorayef is main a high-level Saudi delegation, accompanied by senior officers from 18 authorities entities and greater than 20 main nationwide firms. These organizations signify precedence sectors together with industrial companies, know-how, manufacturing, equipment, mining, industrial automation, power, tourism, and tradition.
Authorities entities on the Saudi pavilion embody the ministries of business and mineral assets, funding, and power, and entities beneath the umbrellas of “Saudi Made,” “Make investments Saudi,” and “Go to Saudi.”
Additionally collaborating are the Zakat, Tax and Customs Authority, Financial Cities and Particular Zones Authority, the Saudi Funding Promotion Authority, and the Premium Residency Heart, together with a number of Public Funding Fund firms equivalent to NEOM, New Murabba Improvement Firm, and ROSHN Group.
The INNOPROM platform gives a chance for Saudi Arabia to reaffirm its dedication to world industrial cooperation and worldwide funding. The Kingdom goals to boost its position as a trusted financial companion, appeal to international funding, and set up long-term partnerships to help information switch, localize superior applied sciences, and strengthen industrial and mining provide chains, whereas aligning with its broader goal of accelerating non-oil exports.
Saudi Arabia and Russia’s financial relations have witnessed vital development lately, significantly within the fields of business, mining, petrochemicals, and superior manufacturing. Bilateral non-oil commerce elevated from $491 million in 2016 to $3.28 billion in 2024, reflecting the deepening partnership between the 2 international locations.