Saudi, Chinese firms sign 34 investment deals

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The agreements between the two sides covered several sectors in the fields of green energy, green hydrogen, photovoltaic energy, information technology…reports Asian Lite News

Saudi Arabian and Chinese companies have signed 34 investment agreements, within the framework of the visit of President Xi Jinping, in the presence of the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih.

The agreements between the two sides covered several sectors in the fields of green energy, green hydrogen, photovoltaic energy, information technology, cloud services, transportation, logistics, medical industries, housing and construction factories.

Eng. Al-Falih confirmed that the agreements reflect the Saudi’s keenness under the leadership of the King and the Crown Prince to develop the its relations in all fields including economic and investment with China.

He said that this visit reflects the keenness of the leaderships of the two countries to develop and strengthen relations and partnership between the two countries in all fields, including economic and investment, adding that the visit will contribute to raising the pace of economic and investment cooperation between the two countries.

He also explained that the two countries have solid relations and a close partnership that witnessed comprehensive development over the past years, especially after the mutual visits between the leaderships of the two countries, which resulted in fruitful cooperation that included various fields.

He further said that the Kingdom, in light of Vision 2030, offers unprecedented investment opportunities in various sectors including renewable energy, industry, communications, information technology, biotechnology, tourism, building and construction, and others, expressing his aspiration to enhance investments between the Kingdom and China, calling on Chinese companies and investors to come to the Kingdom and benefit from investment opportunities with rewarding returns.

It is worth mentioning that the volume of trade exchange between the two countries amounted to 304 billion Saudi riyals in 2021, and trade exchange in the third quarter of 2022 recorded 103 billion Saudi riyals.

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