Saudi Arabia and Egypt are intensifying their industrial collaboration through new initiatives aimed at deepening economic and trade ties. This effort, highlighted during the Saudi-Egyptian Industrial Forum held in Riyadh, involves government-backed support to facilitate trade, industrial integration, and joint ventures across key sectors such as pharmaceuticals, automotive, construction materials, textiles, and food industries. The partnership seeks to leverage both countries’ strategic geographic locations and industrial capabilities to boost investment, create job opportunities, and expand access to regional and African markets. Officials from both nations, including ministers and business leaders, emphasized the importance of enhancing supply chains, human resources, research, and innovation to realize these goals. The initiatives are part of a broader strategy aligned with Saudi Arabia’s National Industrial Strategy and Egypt’s Vision 2030, aiming to establish thousands of new factories and foster sustainable industrial growth through cooperation and investment.
Speaking at the Saudi-Egyptian Industrial Forum in Riyadh, Minister of Industry and Mineral Resources Bandar Alkhorayef highlighted the two countries’ strong bilateral ties by announcing that the Saudi Export-Import Bank had completed SR1.3 billion ($346.5 million) in operations.
“The industrial strategy emphasizes the importance of industrial integration with other countries, especially Egypt,” he stated, noting that cooperation pathways include industry, mining, and trade, as well as supply chains, human resources, research, and innovation.
He highlighted the vital role of government agencies in supporting exporters and importers from both countries.
Citing the growing economic relations between the two countries’ business sectors, Bandar Al-Ameri, chairman of the Saudi-Egyptian Business Council, pointed out that trade between the Kingdom and Egypt grew by 28% in 2024. Al-Ameri highlighted Egypt’s position as a key economic partner and entry point to African markets, calling the signing of a bilateral investment protection pact a significant accomplishment.
The Federation of Saudi Chambers’ Chairman, Hassan Al-Hwaizy, greeted the Egyptian delegation and said that real cooperation, not just numbers, is the foundation of Saudi-Egyptian commercial ties. He urged the development of collaborative ventures, particularly to cater to African markets, and advocated for increased industrial and trade collaboration.
The industrial cooperation focusses on five important areas, including the food, textile, construction, pharmaceutical, and automotive industries, according to Khalil Ibn Salamah, vice minister of industry and mineral resources for industrial affairs. He highlighted how the two nations’ industrial objectives are strategically aligned and encouraged Egyptian manufacturers to take advantage of the Saudi market’s prospects, pointing out that the Kingdom plans to build 24,000 new factories over the next ten years.
Organized by the Federation of Saudi Chambers in cooperation with the Federation of Egyptian Industries, the forum focused on strengthening strategic cooperation and promoting pathways for industrial integration. The event also showcased available investment opportunities in priority sectors under the Kingdom’s National Industrial Strategy, emphasizing the growing Saudi-Egyptian industrial base, which aims to expand investments in the pharmaceutical, automotive, construction materials, textiles, and food industries.
Over 300 executives and investors from the Saudi and Egyptian industrial sectors attended the Saudi-Egyptian Industrial Forum, which was hosted in Riyadh under the auspices of the Saudi Minister of Industry and Mineral Resources. The forum, which was organised by the Federation of Saudi Chambers in collaboration with the Federation of Egyptian Industries, aimed to advance industrial integration and fortify strategic partnership.
The gathering also highlighted the Kingdom’s National Industrial Strategy’s priority sectors for investment, with a focus on the expanding Saudi-Egyptian industrial base, which seeks to increase investments in the food, textile, construction, pharmaceutical, and automotive sectors.
