RIYADH: Saudi Arabia signed 34 investment deals with various Chinese companies on Wednesday as part of President Xi Jinping’s visit. Investment Minister Ng. Khalid Al-Falih and government officials in the field of contracts were present. Agreements have been signed in various sectors such as green energy, green hydrogen, photovoltaic energy, information technology, cloud services, transportation, cargo handling, medical industry, residential construction, factories, etc.
The Saudi investment minister confirmed that the deals reflect moves to develop economic and investment ties with China’s friendly country under the leadership of Sovereign King Salman and Crown Prince Mohammed bin Salman.
He said the Chinese president’s visit to Saudi Arabia is an opportunity for the leaders of both countries to strengthen the partnership and relations between the two countries in all fields. Al-Falih added that the visit will help boost the momentum of existing cooperation between the two countries.
He explained that there is a strong relationship between Saudi Arabia and China, and mutual visits by heads of state since 2016 have paved the way for a global development.
In light of the ‘Vision 2030’, the Minister said that Saudi Arabia offers unprecedented investment opportunities in various sectors such as renewable energy, industry, communication, information technology, biotechnology, tourism and construction industry, and invited Chinese companies and investors to come to Saudi Arabia and benefit from the rewarding investment opportunities.
Al-Falih stressed that the Ministry of Investment is working with many stakeholders in the country’s public and private sectors to attract investors, provide infrastructure and provide a stimulating and safe investment environment. The minister also recalled the increase in trade between the two countries compared to previous years.
