The China-Saudi Arabia Industrial Cooperation and Investment Cooperation Forum, co-hosted by the National Development and Reform Commission of China and the Ministry of Energy, Industry and Mineral Resources of Saudi Arabia, was held in Jeddah on Aug 24.
Nearly 200 representatives of related government departments, enterprises and financial agencies from the two countries discussed the synergy of the Belt and Road Initiative and the Saudi Vision 2030.
Since the two countries signed an industrial cooperation memorandum onthe Belt and Road Initiative early last year, the two sides have agreed 30 key projects, among which eight have started. It is a common hope of the two governments that they can make use of their industrial complementarities, strive for multi-win results and inject new vitality to the world economy.
Khalid A. Al-Falih, minister of the Ministry of Energy, Industry and Mineral Resources, said the Initiative and the Saudi Vision 2030 accord with each other very well and provide a good development environment and platform for enterprises from the two countries.
It is hoped that the Saudi Arabian enterprises, especially private entities can take the opportunity of the China-Saudi Arabia cooperation to change their simplified industrial structure and boost the economic transformation of Saudi Arabia.