RIYADH: On the first day of the 10th Arab China Business Conference, 30 deals worth 10 billion dollars were signed in various sectors, including technology, renewable resources, agriculture, real estate, minerals, supply chain, tourism and health related sectors, among others. Included.
Saudi Foreign Minister Prince Faisal bin Farhan inaugurated the conference on behalf of Crown Prince Mohammed bin Salman. On this occasion, he said that the Crown Prince is making continuous and rapid efforts to expand the long-standing and modern partnership between the Arab world and China in all fields. The Saudi Ministry of Investment said the government has signed agreements with a number of Chinese companies for projects in automotive research, development, manufacturing and sales, tourism and the development of other applications, while on Saudi soil. Joint ventures for manufacture of rail wagons and wheels are also part of the agreement.
Several business-to-business deals were also signed at the key business event that began in Riyadh on Sunday. Speaking at the event, Saudi Energy Minister Prince Abdulaziz bin Salman said that it will not be a surprise to hear more announcements regarding Saudi-Chinese investment soon. He said that our country would prefer to partner with other major economies of the world instead of competing with them. It should be noted that this two-day event has been organized by the Investment and Foreign Ministries of Saudi Arabia in cooperation with the General Secretariat of the Arab League, the Chinese Council for the Promotion of International Trade and the Union of Arab Chambers.
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