Saudi Arabia Aims to Enhance Industrial and Mining Cooperation with France
Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef met yesterday in Toulouse, France, with Airbus CEO Christian Scherer to discuss enhancing cooperation in the aviation and space-related industries, as well as opportunities for aircraft manufacturing and maintenance in Saudi Arabia.
The meeting focused on the national industrial strategy aimed at developing the aviation sector, which Saudi Arabia prioritizes. The Kingdom has identified investment opportunities exceeding 10 billion riyals in key areas of the aviation industry, including maintenance, repair, and operations services, drone manufacturing, and precision automation, as part of its ambition to become a global aviation hub.
The Minister of Industry added that, to attract investments from global aviation companies, including Airbus, the Kingdom has offered incentives such as streamlined government procedures specifically designed to attract foreign investments, regulatory flexibility, and ease in issuing licenses. He also highlighted the competitive access to vital minerals in the aviation industry, such as aluminum and titanium, along with Saudi Arabia’s strategic geographical location, which positions it as a global trade center and a gateway to Europe, Asia, and Africa. The investments are supported by government initiatives to facilitate financing solutions and advanced infrastructure that ensures business sustainability.
