Saudi Gazette report

NEW YORK — Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef visited the New York Stock Exchange (NYSE) on Tuesday, the largest exchange in the world. The visit was mainly aimed to gain insights into exchange's latest electronic systems for evaluating companies and sectors. During the visit, he learned about the history of the exchange, its trading mechanisms, purchasing processes, and best practices aimed at enhancing efficiency and competitiveness.

Established in 1792, the NYSE boasts a market capitalization exceeding $30 trillion, facilitating the buying and selling of shares through an auction-based system managed by securities brokers on behalf of clients. The exchange is known for its stringent listing requirements and transparency, providing high levels of investor protection. While primarily operating in the United States, it also maintains offices in Asia, the Middle East, Europe, and North America.

During his visit to New York, Minister Alkhorayef also welcomed industry ministers and leaders of industrial transformation from around the world at an event organized by the Kingdom in partnership with the United Nations Industrial Development Organization (UNIDO). This event served as a precursor to the upcoming 21st General Conference of UNIDO in Riyadh in 2025, as well as the Multilateral Industrial Policy Forum (MIPF) 2024.

Alkhorayef invited global industry leaders to participate in these events, presenting opportunities to develop innovative industrial solutions and policies that support regional and global industrial development.

The minister's official visit to the United States, which will continue until September 28, aims to enhance cooperation in industrial and mining sectors, strengthen bilateral ties, attract quality investments to the Kingdom, and explore mutual investment opportunities in promising sectors, notably aviation and aerospace.