Beijing: Bandar Alkhorayef, Minister of Industry and Mineral Resources of Saudi Arabia, met with Li Lecheng, Minister of Industry and Information Technology of the People's Republic of China, to explore opportunities for expanding industrial partnerships and investments in advanced sectors. The discussion focused on fostering collaboration in key areas such as automotive manufacturing, pharmaceutical industries, and chemical industries.
According to Bahrain News Agency, the meeting also highlighted the potential for exchanging expertise and technology transfer while focusing on human resource development in these sectors. Both nations recognized the significance of empowering small and medium enterprises (SMEs) within the industrial sector, acknowledging their role in promoting sustainable development.
The dialogue further examined Saudi Arabia's competitive advantages for industrial investments, emphasizing the various incentives available to facilitate investor engagement. The Kingdom's strategic geographical location, rich natural resources, competitive energy pricing, advanced infrastructure, and developed industrial cities were underscored as key elements making it an appealing destination for global industrial investments.
Minister Alkhorayef's visit to China is part of a broader initiative to deepen strategic cooperation between the two nations in the industry and mining sectors, with the goal of attracting quality investments to Saudi Arabia.