Shaaf Al-Osaymi, member of the Executive Committee of the Saudi-Russian Business Council, stated that there are abundant opportunities for Russian investors to seize in the services sector that supports the broader industrial field, particularly in emerging and advanced industries such as the mining sector, which requires growth-focused supporting services.
In an interview with Argaam on the sidelines of the Saudi-Russian Roundtable Meeting in Moscow, Al-Osaymi highlighted that Russia is a key partner for the Kingdom, especially in the field of food security, as it is one of the largest producers of agricultural products, which aligns with the Kingdom’s strategies for achieving sustainable food security.
The roundtable discussed potential investment opportunities between the two sides, both within the Kingdom and in Russia, he added.
Al-Osaymi affirmed that there are promising opportunities between the two countries, particularly as both sides operate in similar sectors stemming from the oil and gas industry, such as oil production, gas, petrochemicals, and mining, including gold and base metals, in addition to other sectors.
Saudi Arabia offers diverse opportunities for Russian investors in fields such as industry, technology, technology transfer, cybersecurity, as well as in the construction sector and the execution of mega projects, he further said.
Al-Osaymi also indicated that these pivots were also discussed during the economic forum held two days ago in Yekaterinburg, in the presence of Minister of Industry and Mineral Resources and a Saudi delegation of over 130 participants from both the public and private sectors.
He highlighted that among the main challenges facing cooperation between the two sides are language barriers and differences in standards and specifications, as Saudi Arabia heavily relies on international standards, whereas Russia has its own unique standards and specifications, which can create obstacles when qualifying Russian entities to operate in the Kingdom.
Shaaf Al-Osaymi, member of the Executive Committee of the Saudi-Russian Business Council, stated that there are abundant opportunities for Russian investors to seize in the services sector that supports the broader industrial field, particularly in emerging and advanced industries such as the mining sector, which requires growth-focused supporting services.
In an interview with Argaam on the sidelines of the Saudi-Russian Roundtable Meeting in Moscow, Al-Osaymi highlighted that Russia is a key partner for the Kingdom, especially in the field of food security, as it is one of the largest producers of agricultural products, which aligns with the Kingdom’s strategies for achieving sustainable food security.
The roundtable discussed potential investment opportunities between the two sides, both within the Kingdom and in Russia, he added.
Al-Osaymi affirmed that there are promising opportunities between the two countries, particularly as both sides operate in similar sectors stemming from the oil and gas industry, such as oil production, gas, petrochemicals, and mining, including gold and base metals, in addition to other sectors.
Saudi Arabia offers diverse opportunities for Russian investors in fields such as industry, technology, technology transfer, cybersecurity, as well as in the construction sector and the execution of mega projects, he further said.
Al-Osaymi also indicated that these pivots were also discussed during the economic forum held two days ago in Yekaterinburg, in the presence of Minister of Industry and Mineral Resources and a Saudi delegation of over 130 participants from both the public and private sectors.
He highlighted that among the main challenges facing cooperation between the two sides are language barriers and differences in standards and specifications, as Saudi Arabia heavily relies on international standards, whereas Russia has its own unique standards and specifications, which can create obstacles when qualifying Russian entities to operate in the Kingdom.
