Saudi Minister of Industry and Mineral Resources His Excellency Bandar Alkhorayef has begun a four-day official visit to the United States, accompanied by a delegation representing Saudi Arabia’s industrial and mining sectors. This trip is focused on strengthening cooperation in mining and critical minerals, areas that are seeing rising global demand.
During his visit, His Excellency Bandar Alkhorayef will meet with senior US government officials and industry leaders from sectors including mining, advanced manufacturing, automotive, aerospace, and food production. Scheduled discussions include meetings with US Secretary of Energy Chris Wright and North Carolina’s Secretary of Commerce Lee Lilley, as well as executives from major companies such as General Mills, Lilac Solutions, RTX, IBM Quantum Innovation Center, International Flavors & Fragrances, CAMAL, Carrier, and Guardian Industries.
Economic Partnership and Trade
The United States is Saudi Arabia’s largest economic partner in the Middle East, according to the Saudi Gazette. Non-oil trade between the two countries reached $18.59 billion in 2024, with Saudi exports—primarily plastics, aluminum, and chemicals—totaling $5.42 billion, while imports from the US, including machinery and pharmaceuticals, amounted to $13.17 billion.
Over 1,300 American companies operate in Saudi Arabia, with more than 200 choosing Riyadh for their regional headquarters. Major US companies such as Caterpillar, John Deere, PepsiCo, Coca-Cola, Nestlé, and Lucid Motors have established a presence in the Kingdom. Notably, Dussur’s $141 million joint venture with Baker Hughes highlights expanding US investment in Saudi industry.
Saudi investments in the US are also significant, with the Public Investment Fund allocating about 40 percent of its global portfolio to the American market. According to the Saudi Gazette, Saudi investments in the United States are estimated at $770 billion, and bilateral agreements now exceed $600 billion, covering sectors like mining, energy, defense, and technology.
Strategic Agreements and Innovation
In May 2025, Saudi Arabia signed a memorandum of cooperation with the US Department of Energy to help secure global supply chains for critical minerals. Additionally, a partnership between the Saudi Arabian Mining Company (Maaden) and US-based MP Materials supports rare earth supply chains essential for the global energy transition.
Advanced technology and innovation will be central topics during the visit. His Excellency Bandar Alkhorayef will promote Saudi Arabia’s adoption of Fourth Industrial Revolution technologies, such as artificial intelligence, automation, and robotics, through initiatives like the Future Factories Program, which aims to modernize manufacturing and supply chains.
The minister will also present attractive investment incentives for international partners, including the Standard Incentives program, which covers up to 35 percent of capital investment costs, capped at SR50 million.
This visit underlines the shared commitment of Saudi Arabia and the United States to drive economic growth, industrial transformation, and a long-term strategic partnership.
