The first day of the tenth Arab and Chinese businessmen conference concluded, Sunday, with the signing of investment agreements worth more than $10 billion, which Saudi Arabia will host on June 11 and 12.
The agreements included 30 agreements and deals in a number of sectors, including technology, renewable energy sources, agriculture, real estate, minerals, supply chains, tourism, and healthcare.
The conference, attended by more than 3,500 business leaders, innovators and decision makers from more than 26 countries, witnessed the signing of a number of agreements between the participating companies, including a $533 million deal between the first Amar company and the Zhonghuan International Group from Hong Kong. Ltd. to establish an iron ore processing plant, manufacture iron pellets for smelting plants in Saudi Arabia, and a $500 million agreement between ASK Group and China National Geological and Mining Corporation, to develop, finance, construct and operate a copper mining project in the Arabian Shield region.
A $266 million framework agreement was signed between Al-Safwa Buildings Company Limited, Gizoba International Engineering Group Company Limited, and Top Arabia International Engineering Limited Company for the construction of advanced buildings in Saudi Arabia.
The second day of the conference, on June 12, will witness keynote speeches and private meetings with government leaders and important personalities, as well as specialized workshops that will examine in depth a number of key topics. Such as supply chains for the oil and gas sectors, innovation and research partnerships, challenges and solutions for global commercial supply chains, mining, and food processing.
The Minister of Economy in the caretaker government, Amin Salam, heads the Lebanese delegation to the Arab-Chinese Business Conference, representing the head of the caretaker government, Najib Mikati.
The trade and investment event, organized by the Saudi Ministry of Investment in partnership with the General Secretariat of the League of Arab States, the Chinese Council for the Promotion of International Trade, and the Union of Arab Chambers, coincides with a remarkable growth in the trade movement between the Arab world and China, with a total value of $430 billion in 2022.
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Read more in: The Gulf and the World
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2023-06-12 13:41:25
