Russian private sector eyes Saudi investment opportunities: Alkhorayef

The visit affirmed the depth of relations between Saudi Arabia and Russia. The Russian side showed great interest in identifying opportunities related to Saudi Vision 2030, particularly in the targeted sectors, he added in an interview with Argaam on the sidelines of the Saudi delegation's visit to Moscow.

Alkhorayef further stated that fruitful meetings were held with Russian companies, both the direct meetings with major entities and expanded roundtable meetings with businessmen.

He expressed optimism that these meetings will bear fruit by solidifying investments in strategic sectors, particularly in the mining and industrial sectors, stressing that Russian companies have extensive experience in the mining sector, and that the Kingdom seeks to attract this expertise, both within the sector itself and in supporting fields.

As for the standard incentives and how investors view them, the minister said that they and all forms of enablers are positive factors for investors, as they help them speed up decision-making and initiatives. He noted that a group of products the Kingdom aims to localize has been identified, and that several companies operating in these fields have been identified.

Alkhorayef also highlighted the presence of companies with expertise in the pharmaceutical sector, noting that the Kingdom's plans to localize this sector were discussed, in addition to reviewing the available enablers.

The local content tools are among the factors that help attract investors, who seek clarity on the volume and quality of demand. Since the launch of the local content law and the corporate regulations, the Kingdom has been able to sign advance agreements with investors, giving them confidence that they can produce their products locally, through advance purchase agreements or long-term contracts, according to the minister.