The Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, has on Wednesday explored ways to strengthen industrial cooperation with Italy, reported the Saudi Press Agency (SPA).
During a meeting with the President of the Italian Region of Lombardy, Attilio Fontana, at the Ministry’s headquarters, both officials discussed opportunities for cooperation between the Kingdom and Italy in the fields of industrial innovation and advanced manufacturing solutions.
Moreover, they explored knowledge transfer and smart solutions for promising industrial sectors that Saudi Arabia aims to localize.
Additionally, the meeting discussed enhancing joint cooperation in sectors that utilize the Fourth Industrial Revolution’s solutions to support knowledge-based sustainable economic growth. These sectors include advanced industries, communications, healthcare, and renewable energy.
Both sides also explored mutual opportunities in advanced industries, such as aviation, space, and information technology.
Furthermore, Al-Khorayef highlighted the objectives of Saudi Vision 2030 to diversify the national economy and the investment opportunities provided by the National Industrial Strategy in promising industrial sectors.
He also spotlighted the multiple competitive advantages offered to foreign investors, including advanced infrastructure, streamlined procedures, and government incentives for investment, along with abundant energy resources.
The Saudi Deputy Minister of Industry and Mineral Resources for Planning and Development, Dr. Abdullah bin Ali Al-Ahmari, attended the meeting. Meanwhile, the Italian Ambassador to the Kingdom, Carlo Baldocci, and several Italian senior officials attended the meeting.
Also on Wednesday, the Federation of Saudi Chambers hosted the Saudi-Italian Business Forum, attended by Fontana and Baldocci, along with over 140 companies and representatives from various government agencies from both countries.
During the Forum, an Italian business association of 7,000 companies has announced plans to expand Italian investments in Saudi Arabia and collaborate with Saudi investors to explore promising opportunities under the framework of Vision 2030.
