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Saudi Arabia has reaffirmed its strong commitment to expanding industrial and investment partnerships with the Russian Federation, highlighting a shared vision for long-term economic cooperation. The announcement was made by Minister of Industry and Mineral Resources, Bandar Alkhorayef, during his keynote address at the International Industrial Exhibition “INNOPROM. Saudi Arabia”, currently taking place in Riyadh until February 10.
Minister Alkhorayef emphasized that the Kingdom’s hosting of INNOPROM reflects the deep mutual interest between Saudi Arabia and Russia in strengthening industrial collaboration, building on historical relations that span more than a century. He noted that this cooperation aims to unlock joint opportunities across priority sectors such as industry, logistics, supply chains, and mining, aligning with the goals of Saudi Vision 2030.
The minister also highlighted that Saudi Arabia’s participation as a partner country in the previous INNOPROM edition in Russia, followed by hosting the event in Riyadh, demonstrates both nations’ commitment to deepening bilateral ties and fostering a stable, secure environment for long-term investors. Particular attention was given to the mining and minerals sector, where Saudi Arabia seeks to benefit from Russia’s advanced expertise, as the sector represents the third pillar of the Kingdom’s national industry strategy.
Saudi Arabia’s integrated industrial ecosystem including advanced industrial cities, modern infrastructure, industrial financing solutions, and localization-focused policies was also showcased as a key enabler for high-value foreign investments. The Riyadh edition of INNOPROM features strong Saudi and Russian participation, along with dialogue sessions and bilateral meetings designed to support strategic partnerships and sustainable economic growth.
J K Management Consultancies plays a vital role in supporting foreign investors and industrial companies looking to enter or expand within Saudi Arabia. From company formation, industrial licensing, and investment advisory to Vision 2030 compliance and regulatory support, J K assists businesses in leveraging emerging Saudi–Russia cooperation opportunities with confidence and clarity.
