RIYADH: The Kingdom’s industry minister met with business leaders in Madrid to discuss potential collaborations with Spanish firms in the fields of geological surveys, automotive components, and drone technology.
According to the Saudi Press Agency, Bandar Alkhorayef, the Saudi Minister of Industry and Mineral Resources, talked about localising the manufacture of heavy-duty drones, car parts, and shipbuilding supplies during the meeting.
These initiatives are a component of Saudi Arabia’s larger plan to support industrialisation and diversify the economy away from reliance on crude oil. In addition to boosting non-oil exports and the gross domestic product, the National Industrial Strategy seeks to draw in investment and promote economic growth.
Alkhorayef spoke with representatives of a number of businesses in Madrid, including Reinosa Forgings & Castings, a manufacturer of massive forgings and mouldings; Ferroglobe, a supplier of silicon metal; and Drone Hopper, a Spanish start-up renowned for creating multi-rotor unmanned drones.
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