Chinese Ambassador in the Kingdom: Chinese companies are planning to establish an automobile factory in Saudi Arabia

By Fahd Al-Talal

Chen Weiqing, the Ambassador of the Republic of China to Saudi Arabia, said that there is a delegation from the largest Chinese automobile manufacturers in discussion with the Ministry of Investment to open a factory in the Kingdom.

The ambassador added at the embassy headquarters in Riyadh: There is a rapid rise in investment areas and it is embodied in two points, which is the development of the Kingdom’s investments in China, indicating that the year 2023 witnessed the entry of Aramco and SABIC into major projects in China.

He explained that the Public Investment Fund also established its first branch in China, noting that China’s investment in the Kingdom is increasing, as many Chinese companies come to Riyadh to discuss investment cooperation opportunities between the two sides.

He continued: “According to the free trade negotiations between China and the Gulf states, 90% of the disputes have been settled, and what remains is not difficult, but will be settled. Communication with the Gulf side is ongoing, and the Gulf Cooperation Council is an important trading partner for China. The signing of the free trade agreement will enhance cooperation between the two sides, and we hope to establish A new round of negotiations.”