Al-Khorayef Urges Chinese Companies to Invest in Car, Aircraft, Machinery Manufacturing
The Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef, invited Chinese companies to invest in promising industrial sectors. The National Industry Strategy focuses on localizing and developing several sectors.
These sectors include automobiles, food, pharmaceuticals, and aircraft. This invitation was extended during his participation in a roundtable meeting organized by the Federation of Chambers of Commerce in Guangzhou, as part of his official visit to the People’s Republic of China.
His Excellency reviewed the meeting on the enablers, incentives, and services that the Kingdom offers to industrial investors, including developed industrial land, industrial financing, workforce training, incentives for certain targeted industries, and the preference for local products in government procurement.
He said, “We are looking for companies that enhance investment in strategic industrial sectors needed by the Kingdom and develop supply chains, with a focus on automobiles, aircraft, food, pharmaceuticals, machinery, and equipment, as well as industries related to renewable energy. Additionally, this includes buses, trucks, and light transport vehicles, for which demand is expected to increase in the coming years.”
He praised the strong bilateral relations between the Kingdom and China at both leadership and popular levels, expressing the Kingdom’s desire to strengthen economic ties, especially in the sectors of industry and mining, to diversify its economic base.
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