Yesterday, Wednesday, Saudi and Chinese companies signed 34 investment agreements as part of President Xi Jinping’s current visit to Saudi Arabia.

The Saudi press agency SPA said the signing took place in the presence of Saudi Investment Minister Khaled al-Falih and representatives of government agencies associated with the industries around which the agreements were signed.

The agreements between the two parties included several sectors in the fields of green energy, green hydrogen, solar photovoltaic, information technology, cloud services, transportation, logistics, medical industry, housing and construction.

The Minister of Investment of Saudi Arabia confirmed that these agreements reflect the desire of the Kingdom, under the leadership of the Custodian of the Two Holy Mosques and His Highness the Crown Prince, to develop and develop the Kingdom’s relations in all fields, including economic and investment, with the friendly Republic. China.

He explained that the Kingdom, in light of Vision 2030, offers unprecedented investment opportunities in various sectors, including renewable energy, industry, communications, information technology, biotechnology, tourism, construction, and others, and encouraged Chinese companies and investors to come. to the Kingdom and take advantage of investment opportunities with rewards.

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

Source: SPA

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Robin Jackson is the editor-in-chief at 24PalNews. As an editor and author who covers business and finance, Robin shares the latest business news, trends, and insights with his extensive audience.

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