Saudi Arabia Explores Partnerships with Spanish Companies in Drone Technology, Automotive Components, and Geological Surveying
In a bid to bolster industrialization and diversify its economy, Saudi Arabia is actively seeking partnerships with Spanish companies in various sectors. Minister Bandar Alkhorayef recently held talks with business leaders in Madrid to discuss potential collaborations in drone technology, automotive components, and geological surveying.
Localizing Production and Attracting Investment
During the meeting, Alkhorayef emphasized the Kingdom’s commitment to localizing the production of heavy-duty drones, automotive parts, and shipbuilding supplies. These efforts are part of Saudi Arabia’s broader strategy outlined in the National Industrial Strategy to attract investment, encourage economic expansion, and enhance GDP and non-oil exports.
Exploring Opportunities with Spanish Companies
Alkhorayef engaged with officials from companies such as Drone Hopper, Ferroglobe, Reinosa Forgings & Castings, IDIADA, and Xcalibur to explore potential partnerships in their respective fields. Discussions also took place with Ana Maria Alonso-Zarza, director of the Spanish Geological and Mining Institute, to explore opportunities in geological research.
Enhancing Economic Relations with Spain
Meetings were held with Spain’s Industry and Tourism Minister Jordi Hereu and Economy, Trade, and Business Minister Carlos Cuerpo to discuss enhancing economic relations and increasing Spanish investment in Saudi Arabia. Alkhorayef outlined Saudi Arabia’s Vision 2030 goals for economic diversification and highlighted the Kingdom’s efforts to attract foreign investment in the industrial and mining sectors.
Strengthening Mining Cooperation
Alkhorayef also met with Spanish Minister of State for Energy Sara Aagesen Munoz to discuss strengthening mining cooperation between the two nations. He emphasized the critical role of sectors like industry, mining, energy, and logistics in achieving Vision 2030 objectives, with mining playing a vital role in Saudi Arabia’s economic transformation.
Commitment to International Collaborations
These discussions underscore Saudi Arabia’s commitment to fostering international collaborations that align with its economic goals. By seeking partnerships with Spanish companies and engaging in strategic dialogues, the Kingdom is solidifying its position as a key player in the global industrial landscape.