Minister of Industry and Mineral Resources Advances Trade Relations with Swiss Companies
His Excellency the Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef, recently visited the Federal Republic of Switzerland to strengthen trade relations between the Kingdom of Saudi Arabia (KSA) and Switzerland in the industrial and mining sectors. During his visit, he met with a number of Swiss company officials to explore opportunities for cooperation and investment.
His Excellency held a meeting with the Chief Investment Officer of K-CAP Holdings, and a meeting with the Chief Operating Officer of OC Oerlikon, the CEO of Glencore, and the Director of the Swiss Association of Mechanical and Electrical Engineering Industries. The meetings focused on discussing potential areas for collaboration in the industry and mining sectors between the two countries.
In addition, His Excellency visited the headquarters of the Swiss Nestle company and the executives of the PIECH company, where he discussed opportunities to enhance cooperation in transferring knowledge and localizing the industry. He also visited the research center of the multinational ABB Group.
The discussions during the bilateral meetings and field visits centered on attracting quality investments in targeted sectors to achieve the goals of the National Industry Strategy and the Kingdom’s Vision 2030, and to review the promising opportunities offered by the industrial and mining sectors in the Kingdom. They also reviewed the promising opportunities offered by the industrial and mining sectors in the KSA, as well as the incentives and services provided by the industry and mineral ecosystem to its partners in the private sector and foreign investors.
The aim of His Excellency’s visit to Switzerland was to advance growth paths between Saudi Arabia and Switzerland in promising industries and increase the penetration of Saudi non-oil exports to European markets. The visit also discussed attracting qualitative investment opportunities in the industrial and mining sectors.
The Ministry of Industry and Mineral Resources remains committed to strengthening trade relations and exploring new opportunities for cooperation with international partners to achieve the Kingdom's Vision 2030.