Saudi Arabia discusses with the Chinese “Foton Motor” the localization of bus, truck, light transport industry

Bandar bin Ibrahim Alkhorayef, Minister of Industry and Mineral Resources, held a meeting in the Chinese city of Guangzhou with a number of officials from the “Foton Motor” company to discuss ways to enhance cooperation in the field of vehicle manufacturing and localizing the bus, truck and light transport industry in the Kingdom.

The meeting, which was attended by a number of officials from the Ministry of Investment, the Ministry of Transport and Logistics, and the Industry and Mineral Resources System, reviewed the investment opportunities available in the vehicle and bus manufacturing sector in the Kingdom, and how to localize this vital industry, in a way that contributes to achieving the goals of the Kingdom’s Vision 2030. Alkhorayef stressed that the Ministry is keen to enhance cooperation with international companies specialized in the manufacture of commercial and heavy vehicles, including “Foton Motor”, and to benefit from global expertise in this field, pointing out the Kingdom’s endeavor to become a regional center for the automotive industry and an attractive destination for foreign investments in this sector.

For his part, Foton Motor officials expressed their great interest in the Saudi market, and their desire to expand the scope of their investments in the Kingdom, and contribute to localizing the industry and transferring technical knowledge to national cadres.

This meeting comes within the framework of the efforts of the Ministry of Industry and Mineral Resources aimed at enhancing cooperation with leading global companies in the field of automotive manufacturing, and localizing this strategic industry in the Kingdom, which contributes to diversifying the national economy and achieving the goals of the National Industrial Strategy.

Foton Motor, which was founded in 1996 in the Chinese capital, Beijing, is one of the most prominent leading companies in the manufacture of commercial vehicles worldwide, including light, medium and heavy trucks, and has a strong presence in many global markets and the Saudi market.