Saudi Industry Minister Discusses Boosting Industrial Cooperation with Hong Kong Officials

Alkhorayef underscored the Kingdom’s strategic advantages, which make it an attractive investment destination for leading global companies. (SPA)
Alkhorayef underscored the Kingdom’s strategic advantages, which make it an attractive investment destination for leading global companies. (SPA)
TT
20

Saudi Industry Minister Discusses Boosting Industrial Cooperation with Hong Kong Officials

Alkhorayef underscored the Kingdom’s strategic advantages, which make it an attractive investment destination for leading global companies. (SPA)
Alkhorayef underscored the Kingdom’s strategic advantages, which make it an attractive investment destination for leading global companies. (SPA)

Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef held bilateral meetings on Saturday with officials in Hong Kong to boost cooperation in the industrial sector, Knowledge transfer, and innovation, and smart manufacturing solutions.

Alkhorayef underscored the Kingdom’s strategic advantages, which make it an attractive investment destination for leading global companies.

He reviewed the Kingdom's positive economic transformations in recent years and its role in developing the industrial and mining sectors.

He discussed joint investment opportunities in automation, in line with the Kingdom’s Future Factories initiative, inviting Hong Kong companies to invest in promising industrial sectors in the Kingdom.

Alkhorayef met with the Director of the Trade and Industry Department, officials from the Innovation and Technology Commission, and the Secretary for Commerce and Economic Development of Hong Kong.

They discussed the prospects for strengthening ties between Saudi Arabia and Hong Kong and the opportunities to develop industrial cooperation between them.



GASTAT: Saudi Non-oil Exports Increased by 19.7% in November 2024

GASTAT: Saudi Non-oil Exports Increased by 19.7% in November 2024
TT
20

GASTAT: Saudi Non-oil Exports Increased by 19.7% in November 2024

GASTAT: Saudi Non-oil Exports Increased by 19.7% in November 2024

Saudi Arabia’s General Authority for Statistics (GASTAT) released the international trade publication for November 2024, revealing a 19.7% increase in non-oil exports compared to November 2023.
The publication also highlighted an 82.9% rise in the value of re-exported goods during the same period, while merchandise exports decreased by 4.7% and imports grew by 13.9%, SPA reported.
It also showed that chemical products are among the most significant non-oil exports, accounting for 24.0% of the total, a 1.6% decrease compared to November 2023.
Plastics, rubber, and their products, which represented 21.7% of total non-oil exports, recorded a 4.0% increase compared to November 2023.
Machinery, electrical equipment and their parts accounted for 28.1% of total imports, showing a 22.4% increase compared to November 2023. Transportation equipment and their parts, representing 14.2% of total imports, also saw a 22.0% increase compared to November 2023.
The publication revealed that total exports reached SAR90.5 billion, total imports totaled SAR73.7 billion, and the trade balance stood at SAR16.8 billion.