In July 2019, the Saudi Arabia General Investment Authority (SAGIA) had the honor of hosting the Saudi-Chinese Trade and Investment Symposium. At its headquarters in Riyadh, SAGIA welcomed a Chinese delegation of more than 40 delegates, representing the public and private sector. The delegation was headed by the Chairman of the Council for the Promotion of Cooperation with Southern Countries and the Chinese Ambassador to the Kingdom.
SAGIA team outlined promising investment opportunities in the targeted sectors in the Kingdom, in addition to the consultation services provided by SAGIA to investors in order to facilitate their entry and start their business in the Saudi market.
Contributing with about 9% of the total global foreign direct investment and one fifth of the total investment inflow to the Kingdom, China is a strategic partner in SAGIA’s pursuit of the Saudi Vision 2030 China. The Kingdom is also a key partner to China in realizing the Belt and Road Initiative through the Saudi-Chinese Joint Committee.
Recently, Saudi Arabia has seen a sharp uptick in the number of Chinese companies setting up in the Kingdom. The first half of 2019 saw a 100% increase in the number of Chinese companies setting up their operations in the Kingdom, when compared to the same period in 2018.