CST unveils $100M investment by Chinese company in Saudi markets

Logo of The Communications, Space & Technology Commission (CST)

The Communications, Space & Technology Commission (CST) revealed investments of $100 million by the Chinese technology company Honor in the Saudi markets.

This move aligns with CST's pivotal role in market regulation and its efforts to attract global technological investments, according to a statement picked up by Argaam.

These investments will contribute to stimulating the local telecommunications market and promoting diversification in modern technologies enriched with artificial intelligence (AI).

CST emphasized that the investment was announced on the LEAP 2024 platform. It underscored the significance of the leading Chinese company's participation in the Saudi technology sector, being driven by CST to attract major companies and position the Kingdom as a regional tech hub.

Honor is deemed a paradigm of innovation in the smart device field. The Chinese company is committed to dedicating its efforts to developing technologies that empower people globally through robust research and development capabilities and future-oriented technologies, the commission stated.