Industry Minister Concludes Official Visit to China

Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef concluded an official visit to the People's Republic of China on Sunday, which included stops in Guangzhou and the Hong Kong Special Administrative Region.

During the visit, he discussed enhancing industrial and mining cooperation, opportunities for knowledge transfer and innovation in the automotive industry, automation, and smart manufacturing solutions, as well as mutual investment opportunities in lithium and copper production and processing. The visit also focused on attracting high-quality investments to the Kingdom's strategic industrial sectors.

The tour included a visit to the Guangzhou Economic and Technological Development District (GETDD), established in 1984 and classified as one of the top ten high-tech parks globally. AlKhorayef reviewed best practices for capacity building and knowledge transfer and explored Guangzhou's experiences in science and technology innovations, particularly in industrial advancements.

During his meeting with Chairman of GAC Group, Alkhorayef discussed opportunities for establishing a strategic partnership with the group and developing sustainable transportation solutions. He also explored collaboration in high-tech vehicle manufacturing with officials from Guangzhou Mino Equipment.

Moreover, Alkhorayef visited Guangzhou Industrial Investment Group, where he met with the group's chairperson to enhance cooperation in the industrial sector, particularly in the production of smart equipment. He also met with Chairman of FOTON, a company specializing in commercial vehicles, including buses and light, medium, and heavy trucks, where they explored joint opportunities in manufacturing electric and hybrid vehicles and advanced automotive technologies.

The minister participated in a roundtable organized by the Guangdong Chamber of Commerce, attended by several Chinese investors. In his speech, he emphasized Saudi Arabia's commitment to attracting Chinese companies to invest in its strategic industrial sectors and enhancing supply chains in industries such as automotive, aerospace, food, pharmaceuticals, machinery, equipment, and renewable energy. He affirmed that Saudi Arabia welcomes Chinese investors and offers various incentives, including developed industrial lands, industrial financing, workforce training, and a preference for local products in government procurement.

Alkhorayef also met with the Mayor of Guangzhou, discussing Saudi Arabia's strategic advantages as a global investment destination, and invited the mayor to visit the Kingdom to witness its developmental progress firsthand.