Minister of Industry and Mineral Resources Bandar Alkhorayef
The Saudi Authority for Industrial Cities and Technology Zones (MODON) will be home for seven Chinese factories operating in various fields, in addition to 10 others in different phases of planning and construction, Minister of Industry and Mineral Resources, Bandar Alkhorayef, said.
The Royal Commission for Jubail and Yanbu (RCJY) also has 12 projects with Chinese firms, some of which will start operations or in the designing phase, the Saudi Press Agency (SPA) reported.
Alkhorayef highlighted the significance of partnership between Saudi Arabia and China, which was reflected on various fields of operations, such as industry and mining.
He added that Saudi non-oil exports exceeded SAR 36 billion, while imports from China reached SAR 112 billion in 2021. Petrochemicals and metals topped Saudi exports to China, while heavy equipment, electronics, vehicles and spare parts were the key Chinese imports.
Moreover, the Saudi Industrial Development Fund (SIDF) participates in financing six joint ventures (JVs) between the two countries.
The minister also pointed to the potential opportunities for future cooperation between both nations. He also stressed that Saudi Arabia has an appropriate infrastructure for many industrial sectors, such as machines and equipment, aquaculture, medical devices and cars.
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