Minister of Industry and Mineral Resources Stresses Importance of Strategic Partnership between KSA and China in Industrial and Mining Sectors

Thursday 1444/5/14 - 2022/12/08
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Riyadh, December 08, 2022, SPA -- Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef stressed the importance of the growing strategic partnership between the Kingdom of Saudi Arabia and China, which was reflected in all areas of cooperation, including industry and mining.
Al-Khorayef, on the occasion of the official visit of Chinese President Xi Jinping to the Kingdom, said cooperation between the two countries has witnessed remarkable growth during the past five years, as non-oil exports in 2021 amounted to more than SR36 billion, while the Kingdom’s imports from China for the same period reached SR112 billion.
The minister highlighted that the investment sector enjoys a large share of the volume of cooperation, as the cities of the Saudi Authority for Industrial Cities and Technology Zones host seven Chinese factories working in various fields, including plastics, metals, ceramics, concrete, and food industries, in addition to around 10 other factories under planning and construction, adding that concerning Saudi investments, there are approximately 12 projects for the Royal Commission for Jubail and Yanbu are going through different stages in cooperation with Chinese companies.
Al-Khorayef stressed the availability of suitable infrastructure in the Kingdom for the development of many industrial sectors including machinery and equipment, industries related to fish farming, medical devices, and medicines, and vehicles (cars and electric cars, batteries, glass), while in the mining sector, Al-Khorayef renewed the Kingdom’s keenness to boost cooperation with China in mining, given that China has huge reserves of some mineral resources, and occupies an advanced position in the production of phosphates, rare earth elements, quartz, and copper, and is considered one of the diamond-producing countries and represents an advanced country in various mineral industries.
15:24 LOCAL TIME 12:24 GMT