Saudi Minister Discusses Investment And Industry With China

Minister of Industry and Mineral Resources, Bandar Alkhorayef, conducted a series of bilateral meetings with leaders of major industrial companies in Shanghai, China. The discussions focused on promoting industrial investment opportunities and localizing high-value industries in the Kingdom as part of Saudi Arabia’s National Industrial Strategy.

Promoting High-Value Industries

During his meetings, Alkhorayef discussed ways to advance the localization of high-value industries. Topics included manufacturing building materials, smartphones, electronic devices, heating compressors, and air conditioners. These industries are considered strategic for the Kingdom’s goal of developing advanced manufacturing capabilities.

Meetings With Leading Companies

The Minister met with leaders from Kinta Group, Transsion Holdings, Tongli Paints Industries, and HUAWEI Tech Investment Saudi Arabia. Discussions focused on aligning the companies’ expertise and investment potential with Saudi Arabia’s vision for industrial growth, technology transfer, and innovation-driven projects.

Industrial Research And Development

The meetings also addressed enhancing cooperation in industrial research and development. Both sides explored opportunities for knowledge exchange, technical expertise transfer, and innovation partnerships. These efforts aim to strengthen Saudi Arabia’s industrial sector through collaboration with leading global companies.

Human Resource Development

Another key topic was the development and qualification of human resources in the industrial sector. The Minister emphasized the importance of training programs, skill development, and adoption of international best practices to ensure a highly capable workforce that can support industrial growth in the Kingdom.

Signing Of Tripartite MoU

Alkhorayef witnessed the signing of a tripartite memorandum of understanding (MoU) between the National Industrial Development Center, Saudi AlJazirah Falcon Company, and China’s Kinta Group. This agreement focuses on localizing the manufacture of air conditioning compressors in Saudi Arabia, representing a major step in technology transfer and industrial localization.

Supporting National Industrial Strategy

The discussions aligned with the Kingdom’s National Industrial Strategy, which seeks to diversify the economy and strengthen local manufacturing. By attracting foreign investment and leveraging international expertise, Saudi Arabia aims to become a regional hub for advanced manufacturing and industrial innovation.

Participation Of Key Leaders

The meetings were attended by Eng. Saleh Al-Solami, CEO of the National Industrial Development Center, along with leaders from the Kingdom’s industrial and mineral resources ecosystem. Their participation ensured coordination between public and private stakeholders to maximize the impact of investment and localization efforts.

Minister Bandar Alkhorayef’s visit to Shanghai reflects Saudi Arabia’s commitment to industrial growth, innovation, and localization of high-value sectors. Through partnerships with international companies, technology transfer, and workforce development, the Kingdom is advancing its industrial capabilities and strengthening its position as a global industrial player.