Saudi Minister embarks on US visit to enhance cooperation in industry and mining

Saudi Gazette report

RIYADH — Minister of Industry and Mineral Resources Bandar Al-Khorayef has commenced an official visit to the United States aimed at bolstering industry and mining collaboration, strengthening bilateral ties, and attracting investments to Saudi Arabia.

The visit, which lasts until September 28, will take him to New York, California, and Nevada, where he will engage with government officials and CEOs of major American companies.

Kicking off his trip in New York, Al-Khorayef will participate in an event organized in collaboration with the United Nations Industrial Development Organization (UNIDO). This gathering aims to garner support for Saudi Arabia’s hosting of the 21st session of the UNIDO General Conference in Riyadh in 2025, as well as the Multilateral Industrial Policy Forum (MIPF) scheduled for October. The event focuses on strengthening ties between the Kingdom and UNIDO and developing innovative industrial solutions to foster regional and global industrial growth.

Al-Khorayef’s itinerary includes a tour of the New York Stock Exchange, the largest stock market in the US, and a visit to Columbia University, where he will engage with faculty and students.

Following New York, he will head to Las Vegas to attend “MINExpo,” the world’s premier mining exhibition, where he plans to meet with representatives from leading mining firms and explore the latest technologies utilized in mining operations. The Ministry of Industry and Mineral Resources will actively participate in this exhibition, organized by the National Mining Association (NMA).

In Los Angeles, Al-Khorayef will convene a roundtable meeting with heads of major US companies to discuss promising sectors outlined in the National Industrial Strategy, exploring opportunities and incentives for foreign investors. His schedule also includes visits to notable companies in advanced industries, including JetZero, an aviation enterprise, and SpaceX, a leader in space exploration technologies.

Additionally, Al-Khorayef will meet with Saudi students studying in the US, highlighting the Kingdom’s commitment to fostering educational ties.

Saudi Arabia has robust economic relations with the US, with non-oil exports reaching SR10.08 billion in 2023 and imports valued at SR67.61 billion. Key exports include chemical products, basic metals, aircraft, and transport equipment, while significant imports comprise nuclear reactors, railway locomotives, optical instruments, and pharmaceuticals.