Riyadh – Mubasher: Saudi Arabian General Investment awarded two Chinese electronic firms, Zte and Shandong Electric, foreign investment licences.
Chinese Zte, specialised in the manufacture of smartphones, will establish a smart metres factory with investments worth SAR 200 million, according to the Saudi Ministry of Commerce.
China’s Shandong Electric, which is specialised in electronic and industrial works, was awarded a foreign investment licence. the ministry tweeted on Thursday.
The Saudi Chinese Investment Forum was launched with the presence of a number of Saudi and Chinese companies and businessmen.
Saudi Arabia signed a number of trade, economic, and military agreements with China, besides memorandums of understanding (MoU) worth $65 billion (SAR 243.75 billion).
