Investment deals over $10 billion at Arab-Chinese Entrepreneurs Conference
On the first day of the 10th Arab-Chinese Entrepreneurs Conference hosted by Saudi Arabia, investment agreements worth more than $10 billion were signed.
In Saudi Arabia’s official SPA news agency, it was reported that 30 deals were made on the first day of the conference in the fields of technology, renewable energy sources, agriculture, real estate, supply chains, tourism and health.
The value of the deals in question was reported to be in excess of $10 billion, with a $5.6 million deal reportedly made between the Saudi Arabian Ministry of Investment and Chinese company Human Horizons on production of electric vehicles.
AGREEMENTS MADE IN THE PUBLIC AND PRIVATE SECTOR
In the news, the deals include a $500 million deal between Saudi Arabia’s ASK International Group and China’s National Mining and Geology Company to develop and finance a copper mining project in the country, as well as the Saudi Arabian Railway Company. Saudi Arabia and the Chinese state-owned train wagon maker, it was reported that there was a $250 million deal between the CRRC, which aims to produce train wagons.
In the news that a number of deals have been made between the public and private sectors, it was noted that in today’s part of the conference, supply chains for the oil and gas sectors, innovation and research partnerships, and associations related to the food sector will be discussed
OVER THOUSAND PEOPLE FROM 23 COUNTRIES ATTENDED
The 10th Arab-Chinese Entrepreneurs Conference, hosted for the first time by Saudi Arabia, is held in Riyadh with the participation of more than 3,000 people from 23 countries for two days under the motto “cooperation for prosperity”.
It was claimed that the conference was organized by the Saudi Ministry of Investment in association with the General Secretariat of the Arab League, the China Council for the Promotion of International Trade and the Union of Arab Chambers.
In addition, it was noted that the conference, which will be attended by more than 150 speakers from executives of large companies and ministers from China and Arab countries, will hold 8 dialogue sessions and 18 workshops, as well as meetings and special events. (AA)