Athens: Minister of Industry and Mineral Resources Bandar Alkhorayef co-chaired a high-profile business roundtable with Greek Minister of Development Dr. Takis Theodorikakos, convening leaders from the Greek private sector to advance investment partnerships in the industrial and mining sectors. The event, organized by the Ministry of Industry and Mineral Resources in cooperation with Greece's Ministry of Development, reaffirms the deepening strategic alignment between the two nations and marks a significant step in transforming diplomatic goodwill into tangible economic cooperation.
According to Saudi Press Agency, in his keynote address, Alkhorayef emphasized the robust strategic and economic ties between the Kingdom and the Hellenic Republic, a relationship cemented by the historic visit of His Royal Highness Mohammed bin Salman, Crown Prince and Prime Minister, to Greece in 2022 -- which established the Saudi-Greek Strategic Partnership Council -- and reinforced by the Greek prime minister's visit to the Kingdom in January 2025. Noting the upcoming centennial celebration of diplomatic relations, Alkhorayef positioned the current moment as a crucial opportunity to leverage this longstanding partnership for mutual economic gain.
Alkhorayef detailed the strategic frameworks making the Kingdom an unparalleled investment destination. He highlighted Saudi Arabia's National Industrial Strategy, which targets 12 sub-sectors, including vital national security industries such as food and pharmaceuticals, and military industries; sectors that capitalize on the Kingdom's comparative advantages in raw materials, such as chemicals and metals; and future-focused industries driven by technology and innovation, including artificial intelligence (AI). He outlined the ambitious transformation of the mining sector into the third pillar of the national industry economy under Vision 2030, noting that advanced geological survey programs have doubled the estimated value of the Kingdom's mineral resources from $1.3 trillion to $2.5 trillion.
Alkhorayef emphasized that the private sector serves as the essential engine for strengthening investment partnerships between the two nations. He pointed to the Kingdom's reformed investment landscape, including a modernized Mining Investment Law ranked among the world's best, which has propelled Saudi Arabia from 104th to 23rd in the Fraser Institute's global investment attractiveness index. He also highlighted the annual Future Minerals Forum as a key global platform for building the partnerships necessary to develop sustainable mineral supply chains.
The roundtable was attended by National Industrial Development Center Chief Executive Eng. Saleh Al-Solami, alongside officials from the Athens Chamber of Commerce, the Federation of Greek Industries, and heads of 23 major Greek companies. The engagement forms a core component of Alkhorayef's official visit to Greece, which is squarely focused on expanding strategic cooperation and attracting quality investments to the Kingdom in line with the economic diversification goals of Saudi Vision 2030.