Minister of Investment: 750 Chinese companies currently operating in Saudi Arabia

Engineer Khalid Al-Falih, Minister of Investment, said that about 750 Chinese companies are currently operating in Saudi Arabia and contributing to major construction projects, including the giant NEOM project, adding that we aspire to increase Chinese investments in the Kingdom, especially in new promising areas of the Saudi economy.”

According to Xinhua News Agency, Al-Falih stressed that Saudi Arabia and China have bright prospects for investment cooperation with the rapid growth of relations between the two countries in recent years.

Al-Falih said in an interview on Wednesday in Riyadh that investment cooperation between Saudi Arabia and China is constantly developing with promising opportunities for both countries in various sectors.

He added that China is Saudi Arabia’s largest trading partner, with bilateral trade exceeding $100 billion last year, and the momentum continued “in the first half of this year.”

Pointing to the expansion of bilateral investment cooperation, Al-Falih said that many Saudi institutions and companies, such as the Public Investment Fund, Aramco, and SABIC, as well as private sector companies, have made significant investments in China.

He explained that “there is also cooperation between Saudi and Chinese companies in third countries, such as ACWA Power, which focuses on renewable energy, clean energy, and water desalination.”

Al-Falih stressed the attractive investment environment in Saudi Arabia, supported by legislative and regulatory reforms.

He said, “We welcome Chinese investors to explore the great opportunities available in the Kingdom, estimated at about $3 trillion, through the National Investment Strategy and the Invest in Saudi Arabia platform.”