Saudi Arabia Eyes Investments in Advanced Manufacturing Tech, Marine Industries

Saudi Arabia's Minister of Industry and Mineral Resources Bandar Alkhorayef held bilateral meetings with leaders of several global companies specialising in advanced manufacturing technologies and marine industries last week.

During the meetings they reviewed promising investment opportunities in these sectors and the enablers provided by the Kingdom to facilitate investors’ journeys, said a Saudi Press Agency report.

The meetings were held on the sidelines of the ninth edition of the Future Investment Initiative (FII9) Conference in Riyadh.

Discussions focused on strengthening joint cooperation in the industrial sector, reviewing the objectives of the National Industrial Strategy, and highlighting the investment opportunities it offers in advanced manufacturing, as well as in ship design, construction, maintenance, and the transfer of the latest technologies to the Kingdom.

The meetings also provided an overview of the enablers and incentives offered by the industrial ecosystem to promote specialised industrial investments and empower investors, in line with the objectives of Saudi Vision 2030.

The companies whose leaders Minister Alkhorayef met included Taiwan’s GIGABYTE Group, a leader in computing and artificial intelligence systems; Giga Computing Technology, specialising in data centers; Italy’s Fincantieri, a leading company in ship design and construction; Italy’s D-Orbit, active in the satellite industry; and the U.S.-based technology company Intel Corporation.

Moreover, the minister witnessed the signing of a cooperation agreement between the National Industrial Development Center and Fincantieri, aimed at strengthening partnerships in the marine industries sector.