China is considering manufacturing cars in Saudi Arabia to meet rising local demand, the country’s Ambassador Li Chengwen said recently.
Li said this would establish a vital market in the two countries.
“There is a strong will by Chinese investors to produce automobiles here in the Kingdom, but the whole idea is under consideration and study.”
He said there were initiatives currently in place to promote cooperation and mutual investment.
There are 150 Chinese firms operating in Saudi markets, mainly in the construction, infrastructure, communication, alternative and renewable energy sectors, he said.
“New Chinese companies will enter Saudi markets during the coming period. We seek to develop work mechanisms between the two countries, to find and increase mutual work trajectories within the different economic sectors. Saudi Arabia and China have always been on good terms as trade partners.”
He announced earlier that 30 Chinese government-owned and private companies in the alternative and renewable energy sector would sign partnerships with Saudi firms.
The main goal of the recent Chinese delegation visit to Saudi Arabia was to support technical, executive and planning cooperation between the two countries, he added.