Al-Falih: 750 Chinese companies drive major projects in Saudi Arabia

Saudi Minister of Investment Khalid Al-Falih said that around 750 Chinese companies are currently operating in Saudi Arabia, contributing to major construction projects, including NEOM.

In an interview with Xinhua, Al-Falih stressed that the Kingdom aspires to have more Chinese investments, especially in the new promising areas of the economy.

The Minister highlighted the bright prospects for investment cooperation between China and Saudi Arabia, citing the rapid development of bilateral relations in recent years. He added that investment cooperation continues to grow, offering promising opportunities for both countries across various sectors.

China is Saudi Arabia's largest trading partner, with the volume of bilateral trade surpassing $100 billion last year, said Al-Falih, noting that such strong momentum continued into the first half of this year.

The Minister also highlighted Saudi Arabia's attractive investment environment, which is backed by legislative and regulatory reforms, calling on Chinese investors to explore the great opportunities available in the Kingdom, estimated at about $3 trillion through the National Investment Strategy and "Invest in Saudi Arabia" platform.

Al-Falih also pointed out that the Public Investment Fund, Saudi Aramco, SABIC, and private sector companies have substantial investments in China, in addition to the cooperation in several countries between Saudi and Chinese companies, such as ACWA Power.