St. petersburg: On the sidelines of his participation in the 2026 St. Petersburg International Economic Forum, Minister of Industry and Mineral Resources Bandar Alkhorayef held a bilateral meeting with Russian Direct Investment Fund CEO Kirill Dmitriev to discuss opportunities to strengthen the investment partnership between the Kingdom of Saudi Arabia and the Russian Federation across a range of industrial sectors of mutual interest.

According to Saudi Press Agency, the meeting highlighted the growing economic relations between the two countries, which open broader prospects for stimulating mutual investments in several promising industrial sectors. It also underscored the importance of moving from the stage of exploring opportunities to working on practical, implementable initiatives that serve the shared interests of both countries.

The meeting also reviewed the objectives of the National Industrial Strategy, the high-quality opportunities it offers, the incentives provided to investors, and the competitive advantages that make Saudi Arabia an attractive destination for global investments.

Saudi Arabia's participation in the St. Petersburg International Economic Forum 2026 reflects its commitment to strengthening its presence in international economic forums, developing effective partnerships that support industrial and mining growth, and opening new avenues for cooperation and investment.