Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef, has met with Spanish Minister of Industry and Tourism Jordi Hereu and Minister of Economy, Trade, and Business Carlos Cuerpo in Madrid.
According to the Saudi Press Agency (SPA), the meetings aimed basically at strengthening the industrial relations between Saudi Arabia and Spain.
During his meeting with Hereu, Alkhorayef underscored the Kingdom’s commitment to boosting the bilateral relations and capturing Spanish investment to Saudi Arabia.
Moreover, the Saudi Industry Minister shed light on the ambitious objectives of Saudi Vision 2030 and its pursuit to diversify the Kingdom’s economy and cut oil dependency.
Consequently, Alkhorayef highlighted that foreign investors have various advantages and incentives in the Kingdom’s investment environment.
Alkhorayef has held another meeting with the Spanish Minister of Economy Carlos Cuerpo to foster the industrial and mining cooperation between both countries.
Both ministers discussed the possibility of establishing joint research and development centers to develop manufacturing and mining innovation and bolster technological capabilities.
They also explored the available opportunities in mineral exploration and extraction in line with environmental sustainability standards.
The meeting also tackled ways to encourage the Spanish private sector to invest in giant construction projects in the Kingdom.
Alkhorayef’s meetings with Spanish ministers are part of his official visit to Spain to boost the industrial and mining cooperation and attract promising investment opportunities.
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