JEDDAH: Saudi-Singaporean industrial ties are set to strengthen after senior officials from the countries met to explore cooperation in sustainable growth, small and medium enterprises, and advanced manufacturing technology.
During his official visit to the Asian island, the Kingdom’s Minister of Industry and Mineral Resources Bandar Alkhorayef met with heads of agencies and institutions, including Singapore Economic Development Board Chairman Png Cheong Boon where the two discussed leveraging the EDB’s expertise.
The minister also met with Enterprise Singapore Executive Chairman Lee Chuan Teck to discuss cooperation in capacity building, innovation, and transformation, and Meinhardt Group’s head of the fourth industrial revolution division to explore modern technologies to enhance efficiency and innovation in the sector.
The meetings were also attended by the Kingdom’s Assistant Minister for Planning and Development Abdullah Ali Al-Ahmari, CEO of the National Industrial Development Center Saleh Al-Sulami, and Majed Rafed Al-Argoubi, CEO at the Saudi Authority for Industrial Cities and Technology Zones.
The discussions are part of an economic tour of East Asia, where Alkhorayef is leading his ministry’s delegation to enhance bilateral ties, attract high-quality investments to Saudi Arabia, and explore mutual opportunities in the industrial sector.
In October 2023, the Kingdom and Singapore signed seven memorandums of understanding to facilitate investment opportunities across multiple sectors, inked during the third session of the Saudi-Singapore Joint Committee held in Riyadh at that time.
The two countries have a robust partnership, with trade volume reaching SR45.2 billion ($12.05 billion) in 2022, a 50 percent increase from the previous year.
In his discussion with the Agency for Science, Technology and Research CEO, Alkhorayef explored ways to strengthen cooperation with the organization, which is considered one of the top innovative government bodies globally in the field of science and technology.
The minister and delegation members also toured the Port of Singapore, which stands as the world’s largest automated maritime terminal.
During his visit, the transfer of expertise, including the port’s model for handling the world’s largest container ships, adopting new technologies, and training were discussed.
Tuas Port was also toured, which opened in 2022 and is slated to be fully operational by 2040.
Covering an area roughly equivalent to 3,300 football fields, the terminal will include 66 automated docks extending 26 km to accommodate the largest container ships. Its projected throughput is 65 million twenty-foot equivalent units.
