Xi Jinping visits Saudi Arabia, signs 34 investment deals
Chinese President Xi Jinping arrived in Riyadh on Wednesday on a three-day visit at the invitation of Saudi Arabia’s King Salman bin Abdulaziz Al Saud.
Doha: As part of Chinese President Xi Jinping’s visit to Saudi Arabia, Saudi and Chinese companies have signed 34 investment agreements. Saudi Press Agency (SPA) gave this information on Thursday. The signing ceremony was held on Wednesday. The deals include green energy, hydrogen production, photovoltaic energy, information technology and services, transportation, logistics, medical industry and construction. In the report, Saudi Investment Minister Khalid bin Abdulaziz Al-Falih said that these agreements express the intention of Saudi Arabia and China to promote bilateral cooperation in all areas.
Mr. Al-Falih said that as part of the Saudi Vision 2030, the Gulf monarchy offers “unprecedented” opportunities for investment in various sectors, including renewable energy, industry, communications, biotechnology, tourism and construction. At the same time, emphasis is being placed on the economic development program, its diversified economy, and the development of various public service sectors to reduce the country’s dependence on oil.
In 2021, Sino-Saudi trade reached 304.3 billion Saudi riyals ($81 billion), representing a 37 percent increase from 221.6 billion Saudi riyals in 2020.
Chinese President Xi Jinping arrived in Riyadh on Wednesday on a three-day visit at the invitation of King Salman bin Abdulaziz Al Saud of Saudi Arabia. The Chinese leader is going to hold talks with the leadership of Saudi Arabia, the leaders of the Arab Gulf countries and the Gulf Cooperation Council. This is Mr. Xi Jinping’s third foreign trip since the beginning of the Kovid-19 epidemic.
