Saudi Arabia Minister of Industry and Mineral Resources, Bandar Alkhorayef, has unveiled the Kingdom’s ambitious global industrial vision during his participation in INNOPROM 2025, reinforcing its emergence as a leading force in advanced manufacturing and future technologies.
Speaking at a high level strategic dialogue at INNOPROM 2025, titled ‘Technological Leadership: Industrial Breakthrough’, Alkhorayef detailed the efforts of the Kingdom to position itself at the forefront of global value chains through the integration of Fourth Industrial Revolution (4IR) technologies and robust international partnerships.
Alkhorayef thanked the Russian Federation and INNOPROM 2025 organizers for hosting Saudi Arabia as a strategic partner at this year’s event, emphasizing that the Kingdom’s participation underscores its commitment to global collaboration and industrial transformation.
The minister highlighted the central role of the National Industrial Strategy, launched in 2022, which is driving the transformation of Saudi Arabia’s industrial base. Alkhorayef explained the strategy’s three core pillars:
National resilience industries, focused on localizing critical sectors such as food, pharmaceuticals, water, and defense through targeted investment and strategic alliances.
Resource based and logistical advantages, leveraging Saudi Arabia’s abundant oil, gas, and mineral reserves, along with its geographic position, to grow advanced petrochemicals, mining, and value-added downstream industries.
Future oriented sectors, which include advancing sectors such as artificial intelligence, 3D printing, and Industry 4.0 with early leadership efforts supported by incentives for R&D, technology adoption, and local content development.
According to Alkhorayef, comprehensive geological surveys have raised the estimated value of Saudi mineral resources from $1.3 trillion to $2.5 trillion, covering critical materials such as phosphate, copper, iron ore, zinc, and others. Alkhorayef further noted that the sector is being developed with a strong focus on environmental responsibility and social impact.
A key focus of INNOPROM 2025 remarks by the minister were the Kingdom’s growing mining sector, which has emerged as a major pillar of Vision 2030. At INNOPROM 2025, he also spotlighted the Future Minerals Forum (FMF), hosted annually in Riyadh, which has become a global platform for fostering collaboration in critical minerals. Since its launch in 2022, FMF has convened governments, investors, academics, and industry leaders to strengthen resilient and sustainable mineral supply chains.
Alkhorayef drew attention to the alignment between Saudi Vision 2030 and Russia’s national development goals, particularly in areas such as digital transformation, economic diversification, and industrial innovation. The minister cited the Saudi-Russian Joint Committee, established in 2002, and the Saudi Commercial Attaché office in Moscow, opened in 2022, as key enablers of deepened bilateral cooperation.
Trade between the two nations has significantly expanded, growing from $491 million in 2016 to over $3.28 billion in 2024, signaling increased momentum in Saudi-Russian economic ties. The minister concluded by affirming Saudi Arabia’s dedication to forging cross-border industrial alliances, reinforcing its commitment to shaping the future of global manufacturing, energy, and minerals through innovation, resilience, and strategic diplomacy.
