Saudi Arabia and China signed 34 investment agreements yesterday during Chinese President Xi Jinping’s visit. Saudi’s Minister of Investment, Khalid bin Abdulaziz Al-Falih was present during the deals’ signing.
The agreements between the two countries 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.
Al-Falih said that Saudi Arabia 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 benefit from investment opportunities with rewarding returns.
The statement released by the state’s Press Agency stated that the volume of trade exchange between the two countries amounted to 304 billion Saudi riyals in 2021, which amounts to $80 billion, and 103 billion Saudi riyals in 2022, which amounts to $27 billion.
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