Saudi Arabia, South Africa seek to identify new investment opportunities

Saudi Arabia is looking into ways to expand investments with South Africa, with plans to identify and enhance high-value opportunities, empower Saudi investors in the South African market, and address challenges facing cross-border business, Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef stated.

Speaking at the Saudi-South African Business Forum, Alkhorayef noted that Vision 2030 offers opportunities for international partnerships across sectors, including mining, where demand is rising rapidly.

Saudi Arabia plays a pivotal role in the mining sector, and the complementarity between the two countries is clear.

South Africa remains a well-established industrial base with abundant natural resources and a strategic partner for Saudi institutions in fields such as technology, capacity building, and innovation, Alkhorayef highlighted.

The minister also underlined the importance of bilateral trade, pointing to the establishment of a Saudi commercial attaché and the opening of a Saudi EXIM Bank office in Johannesburg to support companies, facilitate exports, and mitigate cross-border investment risks. He called on investors and entrepreneurs to explore and seize available opportunities.