Kuwait air traffic returns to normal, flights resume QatarEnergy announces new oil discovery offshore Namibia UAE developer Alef launches $1.1bln mixed-use development in Sharjah ADNOC eyeing Canada upstream and LNG opportunities via XRG arm, executive says Dubai real estate deals in April surge to $18.7bln Saudi's SAMA mandates advance notification of investment rounds by financing companies Qatar maritime trade activity accelerates in May Oil steadies as uncertainty over US-Iran talks keeps markets on edge Qatar: Relatively hot daytime conditions expected, moderate night Dubai Centre for Family Businesses explores ways to strengthen business adaptability Saudi Crown Prince, UAE President discuss regional security and cooperation UAE President and Qatar’s Emir discuss fraternal ties and regional developments in phone call Flydubai operates 3,800 flights in March, posts high net promoter score Oman Investment Bank names new CEO Saudi sovereign investor PIF mandates 3yr, 7yr, 30yr USD issuance Abu Dhabi's TA’ZIZ Methanol JV secures $2bn financing for methanol plant Emirates airline posts record net profit despite war impact Qatar unveils support package to steady markets, boost investor confidence Saudi Vision 2030 milestones forge a stronger, diversified, and resilient economy Abu Dhabi non-oil trade jumps 36% to $113bln in 2025; exports rise 63% Qatar's GTA extends 2025 tax return submission deadline until June 30 Qatar targets strategic FDI as global competition intensifies New pharma plant opens in Nizwa, boosting Oman’s drug security Jeddah Tower hits new construction milestone; tops 100 floors Qatar’s banking assets touch $596bln in February: QNBFS Dubai Holding Real Estate, ENBD partner to offer financing for key projects Ajman DED issues 1,617 new licences, renews 8,777 in Q1 Saudi: SFDA begins classifying fines according to size of establishment in bid to support MSMEs Burjeel Holdings strengthens growth outlook Saudi Arabia raises its oil price for Asia

Log in

عربي

Media Centre

Home » Media Centre

Saudi, Singaporean Industry Ministers discuss Kingdom's investment opportunities

Saudi, Singaporean Industry Ministers discuss Kingdom's investment opportunities

Saudi, Singaporean Industry Ministers discuss Kingdom's investment opportunities

Sep 03, 2024

Singapore: Minister of Industry and Mineral Resources Bandar Alkhorayef met with Minister for Manpower and Second Minister for Trade and Industry of Singapore Tan See Leng to discuss the qualitative investment opportunities in the Kingdom.

During the meeting at the Singaporean Ministry of Trade and Industry, Alkhorayef highlighted the Kingdom's strategic location, which connects the Asian, African, and European continents, as well as its abundant and diverse natural resources.

He also underlined the services and potentials of the industrial and mineral wealth system, alongside its promising and competitive sectors, proposing the formation of working teams to enhance industrial cooperation between the two countries.

Assistant Minister of Industry and Mineral Resources for Planning and Development Abdullah Ali Alahmari; CEO of the Industrial Center Saleh Al-Solami; CEO of the Saudi Authority for Industrial Cities and Technology Zones "MODON" Majed Al-Argoubi and, the Saudi Ambassador to Singapore Abdullah Al-Madhi, attended the meeting.

The two sides explored ways to build human capital in areas of mutual interest between the two countries, affirming the strength of the Saudi-Singaporean relationship.

Alkhorayef has officially visited Singapore as part of his current economic tour of East Asia, which includes China. The minister leads a delegation from the industrial and mineral resources system, with the goal of enhancing bilateral ties, attracting quality investments to the Kingdom, and exploring mutual investment opportunities in the industrial sector.

Alkhorayef's visit comes while Saudi non-oil exports to Singapore amounted to 9.3 billion Saudi Riyals in 2023, while imports reached 5.9 billion Saudi Riyals.

The Kingdom's key exports to Singapore included plastics, chemical products, electrical devices and equipment, and base metals and their products.

Meanwhile, the Kingdom's main imports from Singapore comprised ships, boats, floating structures, optical instruments, medical devices, and pharmaceutical products.

Moreover, the third session of the Saudi-Singapore Joint Committee witnessed the signing of seven memoranda of understanding in various sectors aimed at enhancing cooperation in economic, investment, and trade fields.